Firms advised to use derivative tools to minimise forex risks

Firms advised to use derivative tools to minimise forex risks

Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.

Taxation of cross border financial derivatives still at the crossroads?

“Taxpayers, especially banks have petitioned to the MoF for consideration and approval of their proposed FCT exemption on cross border derivative deals”