Securities transaction tax clarified: options and futures taxed with seller or purchaser liability depending on sale or exercise. The amendment specifies a securities transaction tax scheme: sale of an option is taxed at a rate payable by the seller; sale of an option when exercised ... Summary
Securities transaction tax clarified: options and futures taxed with seller or purchaser liability depending on sale or exercise.
The amendment specifies a securities transaction tax scheme: sale of an option is taxed at a rate payable by the seller; sale of an option when exercised is taxed at a higher rate payable by the purchaser; and sale of a futures is taxed at the seller's rate. Section 99 is amended to define taxable value for options-option premium for sale of an option and settlement price for an exercised option.
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