, Korea

Korea unveils new tax on derivatives trades

This move is in hopes of boosting tax revenues by 100 billion won per year to buoy its aging population.

BBVA Research said Korea will introduce a new tax on derivatives trades (including on popular Kospi 200 futures and options contracts) beginning in 2016, a move which is expected to raise boost tax revenues by 100 billion won (US$88.6 million) per year in order to support its aging population.

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