PASSIVE FOREIGN INVESTMENT COMPANY - PFIC
A foreign-based corporation that has one of the following qualities:
- At least 75% of the corporation's income is considered "passive", which is based on investments rather than standard operating business.
- At least 50% of the company's assets are investments that produce interest, dividends and/or capital gains
PFICs include foreign-based partnerships, mutual funds, and other pooled investment vehicles that have at least one U.S. shareholder. Most investors in PFICs must pay income tax on all distributions and appreciated share values, regardless of whether capital gains tax rates would normally apply.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 12:00 | CBI retail sales volume balance | Apr | |
| 01:01 | BRC Shop Price Index | Apr | |
| 01:30 | Unemployment Rate | Mar | |
| 05:04 | BoJ MPC Interest Rate Announcement | Apr | |
| 05:04 | Monetary Policy Meeting Minutes | ||
| 05:04 | BOJ Outlook Report | ||
| 07:00 | BOJ Core CPI | Mar | |
| 08:30 | Bank of Japan Press Conference | ||
| 09:00 | Unemployment Rate | 1 quarter |
