Investments in short term Japanese government paper can now be held through global custodians that are Qualified Foreign Intermediaries (QFI), provided that the beneficial owner is eligible for tax exemption. The tax stipulation will restrict the benefit to sovereign investors, and certain foreign corporations and trusts. The change in the rules was effective from 1 April.
Short Term Japanese Government Debt Can Now Be Held Through Custodian Banks
Investments in short term Japanese government paper can now be held through global custodians that are Qualified Foreign Intermediaries (QFI), provided that the beneficial owner is eligible for tax exemption. The tax stipulation will restrict the benefit to sovereign investors,
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