The Central Government is satisfied that a practice was generally prevalent regarding levy of service tax (including non-levy thereof), under section 66 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act ), on services provided by an authorised person or sub-broker to the member of a recognised association or a registered association, in relation to a forward contract
, and that such services were liable to service tax under the Finance Act, which was not being levied according to the said practice during the period commencing from the 10th day of September 2004 and ending with the 30th day of June 2012.
Congress intended to distinguish between a forward contract
(which may be entitled to safe harbor protections) and an ordinary commodity purchase or sale transaction.
Peab AB (STO:PEABB) said today that has on 2 April 2012 it exercised its forward contract
of purchase of 940,000 shares of i Lemminkainen Oy, which is reportedly 4.
Therefore, gain or loss arising from a disposition or settlement of a foreign currency forward contract
generally ought to be ordinary in character, regardless of whether the contract represents a foreign currency contract under Sec.
The forward contract
arises due to the required agreement with the investment bank to pay an agreed price for the shares that the investment bank repurchases to cover its short position during the term of the forward contract
, which may be anywhere from 30 to 360 days.
In its latest Beef Action For Profit leaflet, beef farmers are told they need to understand how forward contracts
work and whether they are right for their own business before taking the plunge.
to repurchase an issuer's equity shares that require physical settlement in exchange for cash are initially measured at the fair value of the shares at inception, adjusted for any consideration or unstated rights or privileges, which is the same as the amount that would be paid under the conditions specified in the contract if settlement occurred immediately.
Purchase and sales contracts are, in fact, forward contracts
Similarly, in 1989 in establishing the manner of the conduct of the receivership of insured depository institutions under federal law, the Financial Institutions Reform, Recovery and Enforcement Act of 1989 provided for the termination, or closeout, and netting of qualified financial contracts, including securities, commodity and forward contracts
, and repurchase and swap agreements.
The purchase price for the required volume of rough diamonds in a forward contract
will be determined by a customer s bid relative to the spot price for the same type of goods at the De Beers Auction Sales spot auction event when the contract matures.
PartnerRe had entered the three year equity forward contract
, involving 6.
For example, if a taxpayer physically settled a forward contract
on stock by delivering stock to the counterparty in exchange for the forward contract
price, the taxpayer was treated as simply selling the stock for the forward price without realizing gain or loss on the forward contract
itself, notwithstanding that the contract was a separate property right that may have had built-in economic gain or loss.