Tax break for ETF funds is not automatic
The Finance Ministry has declared that the tax break for ETF funds is not automatic and yields from some ETF funds must be taxed. Based on legislation passed in 2015, the general consensus was that yields from ETF funds traded on stock exchanges are not taxed if the funds are held for over a year. The ministry, though, now says that some ETF funds resemble mutual funds, which are not tax exempt. Securities traders and banks are confused and disagree. The ministry is not offering any guidance how to distinguish between ETF funds, leaving securities traders and banks to demand clearer rules.
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