Commentary

I9.329 Securities issued by international organisations

IHT, trusts and estates

I9.329 Securities issued by international organisations

I9.329 Securities issued by international organisations

Under the Bretton Woods Agreements Order in Council 19461 any obligation or security, including any dividend or interest thereon, issued by the International Monetary Fund or the International Bank for Reconstruction and Development, or guaranteed by that Bank is not taxable if the sole basis for the taxation is the place or currency in which the obligation or security is issued, payable or paid, or the location of any office etc maintained by the Fund or Bank2. The result is that such securities, irrespective of their legal situation, are taxable only in the circumstances

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