Currency Regulation / "I"- Accounts

(Tax News Reporter - Two Weeks Ended 4 June 1996)

At a recent seminar, the head of the State Tax Service announced that various changes are being considered in relation to the currency accounts used by non-residents. In particular, a less onerous regime is being considered for non-residents undertaking limited transactions through "I" accounts, whilst the tax regime for non-residents actively trading through "I" accounts may be considerably tightened.

Legal developments are usually reported in Tax News Reporter on official publication. This may be long after the law is issued.

This publication is intended for general guidance only and should not form the basis of specific decisions.