Belarus makes Forex trading tax exempt

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At a first glance Belarus seems like an unlikely candidate for being a Forex trading haven, but the country surprisingly turned out to be among the most favourable destinations for over-the-counter (OTC) foreign exchange industry. That seems to apply to it now more than ever, as the Belarusian president moved to make Forex trading in the country tax exempt.
Alexander Lukashenko may have been the only member of the Belarusian parliament to vote against independence from the Soviet Union in 1991 but he recently signed a decree which removes all taxation on Forex trading in the country.
To be more specific, individual profit from transactions with OTC financial instruments will not be subjected to an income tax.
Do you know whether there are other jurisdictions out there that have done so? Because this is the first time I hear of such a thing.


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