search query: @indexterm TAX LAW / total: 154
reference: 57 / 154
Author: | Ross, D. |
Title: | The taxation of foreign exchange gains and losses |
Journal: | Accountancy
1991 : SEP, p.88-89 |
Index terms: | TAXATION TAX LAW |
Language: | eng |
Abstract: | If a company borrows in hard currency, typically paying a lower interest rate than that on sterling, then any exchange loss on repayments is merely part of the cost of servicing the debt. The consultative document of the Inland Revenue solves some problems, but it creates new ones. The particular inequity of taxing unrealized gains, could have disastrous financial consequences for firms. |
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