Page 75 - P6 Slide Taxation - Lecture Day 4
P. 75

EXCHANGE ITEM TRANSACTION DATE





     A debt owing by a person Date on which it was actually


                                                                incurred.


     A debt owing to a person                                   Date on which the amount payable


                                                                under the debt accrued to him or


                                                                acquired in any other manner.

     FEC                                                        Date on which it was entered into.


     (Forward exchange

     contract)


     FCOC                                                       Date on which it was entered into

     (Foreign currency option                                   or acquired.


     contract)



     A unit of foreign currency. Date on which the amount was


                                                                acquired.
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