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Open Date
14 Dec 2022
Closing Date
10 Feb 2023
Consultation closed

Foreign investment fund (FIF) default calculation method

This QWBA explains that a person does not have a choice of calculation methods and must use a default method to calculate FIF income if they fail to declare the income in a tax return and later file a voluntary disclosure, or fail to file a tax return by the due date and later provide one with the income.

This item is particularly relevant for natural persons and eligible trustees.

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