Page 2 - P6 Slide Taxation - Lecture Day 5 - Foreign Exchange
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Learning outcomes:
- What are exchange differences?
- To whom will it apply?
- How and when are exchange differences calculated? [Method & timing?]
- What is the effect of exchange differences on a TP’s ‘income’ as defined?
- How are the general provisions of s 24I applied in a tax calculation?
- How are exchange difference treated when an asset is purchased?
- How are exchange differences treated in transactions with connected
persons?
- What are hedging items and affected contracts?
- How is s 25D applied to underlying items?
