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Taxman said: 21 July 2015 at 14:28 I would like to know what are the tax implications on exchange gains/losses on a foreign bank account. I know the interest is taxable but is the gains/losses on the capital from forex taxable? |
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TaxTim Evan said: 21 July 2015 at 15:22 Is this just for money held offshore? |
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Taxman said: 21 July 2015 at 15:56 Yes, It is for money held in an offshore USD bank account that earns minimal interest. |
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TaxTim Evan said: 21 July 2015 at 16:09 No you do not need to pay tax on the foreign exchange gains and losses. |
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