06.08.2015 - Korea fund managers demand clarity on tax reforms
Korean fund managers have called for greater clarity over tax exemptions for funds that invest abroad. Tax disincentives have generally been cited by foreign fund managers in Korea as one of the biggest hurdles of developing funds which invest overseas, given that Korean investors are subject to a withholding tax of 14.5% on foreign funds. Other important announcements by the government in June included further deregulation of Korea Investment Corporation (KIC) with the aim of supporting the management of small trust accounts as well as encouraging small and medium-sized pension funds to open trust accounts with KIC. he $85 billion sovereign wealth fund will also be allowed to jointly invest in overseas M&As with domestic corporations...............................................Full Article: Source
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