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PR Newswire
29-10-2013, 12:42 PM
Sales of some foreign securities held by UIS may be subject to capital gain taxes imposed by the authorities of the countries concerned.
In addition, I recall that many years ago, arising from uncertainty over the treatment of trading gains, our IRAS introduced a new regime taxing more on sales of more recently-purchased securities with exemption on those that have been held beyond a stipulated period.
If these taxes are indeed applicable, and UIS has not provided for such possible taxes as it is impractical to do so, investors may have to factor likely diminution of NTA when UIS liquidates its securities holdings.
In addition, I recall that many years ago, arising from uncertainty over the treatment of trading gains, our IRAS introduced a new regime taxing more on sales of more recently-purchased securities with exemption on those that have been held beyond a stipulated period.
If these taxes are indeed applicable, and UIS has not provided for such possible taxes as it is impractical to do so, investors may have to factor likely diminution of NTA when UIS liquidates its securities holdings.