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KHO:1998:11 KI-generiert

Currency fluctuation gains on USD to JPY swaps are not realized taxable income until the transaction is completed.

Geschäftsnummer KHO:1998:11
Gericht / Behörde
Rechtsordnung Finnland (FI)
Entscheiddatum
Ausgang Gutgeheissen (Allowed)
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Legislator-Zusammenfassung

KI-generiert

The Supreme Administrative Court ruled that currency gains or losses from swapping US dollars for Japanese yen do not constitute realized income for tax purposes. The taxpayer argued that the fluctuation should be taxed, but the court held that the transaction remains unrealized until the funds are actually exchanged. Consequently, the court confirmed that such fluctuations are excluded from taxable income in the relevant tax years.

Legislator-Regeste

KI-generiert

Tuloverolaki 1994; 1 §: Currency gains or losses from foreign exchange swaps are not realized income until the transaction is completed.

Schlagwörter

KI-generiert
realized income currency fluctuation foreign exchange swap taxable income unrealized gain tax year USD to JPY Umrechnungskurs

Zitierte Gesetzesbestimmungen

KI-generiert
Tuloverolaki 1994
KI-generiert
kho-precedent_1997_25
Foreign currency gains from stock sales are taxable in Finland if the intent was to convert profits back to Finnish currency.
admin_2021_hameenlinna__426
Court held currency fluctuation between investment and redemption dates must be considered for life insurance income calculation under Finnish tax law.
kho-precedent_2015_178
Currency loss from closing a foreign currency account is not deductible under Income Tax Act s. 54b unless from a loan obligation.
kko-precedent_1998_45
Supreme Court dismisses claim against bank for bad faith when recipient used funds in good faith.
kho-precedent_1999_57
Euro currency conversion on 1.1.1999 deemed irreversible, making currency gains taxable in full for 1999.

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Volltext

Jos henkilö, jota verotetaan tuloverolain mukaan, vaihtaa veronalaisella tilillä suomalaisessa pankissa olevia US dollareita Japanin jeneiksi tai muuksi ulkomaan valuutaksi, vaihdettavien dollareiden saantopäivän ja muiden ulkomaan valuuttojen hankintapäivän välillä tapahtuvasta dollarin valuuttakurssin mutoksesta johtuva kurssivoitto tai -tappio ei vielä valuutanvaihdon johdosta realisoidu tuloverotuksessa huomioon otettavaksi eräksi. Ennakkoratkaisu verovuosille 1997 ja 1998.