Japan may scrap capital gains tax for foreigners : report By V. Phani Kumar Last update: 7:45 p.m. EST Jan. 6, 2009 Comments: 3 HONG KONG (MarketWatch) -- The Japanese government will seek to scrap capital gains taxes for foreigners holding stakes in domestic companies through investment funds, the Nikkei business daily reported Tuesday. Japan currently applies a corporate tax of about 40% on capital gains when funds sell shares. The government plans to submit a bill to the current parliament session, seeking to end corporate and income taxes on foreign investors from April. Foreign investors with a stake of 25% or more in partnership funds, or ownership of 50% or higher in management companies for funds won't be eligible for the exemption, the report added. End of Story
PTM Price at posting:
$3.40 Sentiment: Hold Disclosure: Held
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