News File
Abolishment of Exchange Tax
(Dec 18, 1998)
The exchange tax which has been imposed on transactions on The Tokyo International Financial Futures Exchange (TIFFE) will be abolished from 1st of April 1999.
TIFFE has requested for years to the Ministry of Finance and to various organizations concerned to repeal the exchange tax. The Liberal-Democratic Party (LDP) summarized the tax reform proposals for fiscal 1999, and we are pleased to inform you that the LDP has decided the exchange tax will be abolished. After amendments of the Tax Law in the next session of the Diet, this abolishment will be effective from 1st of April 1999.
With this abolishment of the exchange tax, TIFFE will be able to provide a more competitive and attractive market on Euroyen futures as a fully computerized exchange. Furthermore, the Segregation scheme of customer funds has started this month, providing more financial safeguards to our customers.
-ends-
TIFFE has requested for years to the Ministry of Finance and to various organizations concerned to repeal the exchange tax. The Liberal-Democratic Party (LDP) summarized the tax reform proposals for fiscal 1999, and we are pleased to inform you that the LDP has decided the exchange tax will be abolished. After amendments of the Tax Law in the next session of the Diet, this abolishment will be effective from 1st of April 1999.
With this abolishment of the exchange tax, TIFFE will be able to provide a more competitive and attractive market on Euroyen futures as a fully computerized exchange. Furthermore, the Segregation scheme of customer funds has started this month, providing more financial safeguards to our customers.
