Korea transaction tax could halve number of derivatives transactions

seoul-southkorea

Turnover in the derivatives market in South Korea could be reduced by over 50% if a proposed new transaction tax on derivatives is approved, say market participants.

The Korean ministry of strategy and finance announced the government's proposed tax law amendments for 2013 that impose a 0.001% tax on Kospi 200 index futures trades, and a 0.01% tax on Kospi 200 index options transactions, effective from January 1, 2016.

The ministry said that the new measures are designed to bring the taxation of

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