Aberdeen Global V - Aberdeen Asset Management

TaxationTAXATION OF ABERDEEN GLOBAL VAberdeen Global V is not liable to any Luxembourg tax onprofits or income.Aberdeen Global V is liable in Luxembourg to a tax at a rateof 0.01% per annum of the Net Asset Value of each Fundsuch tax being payable quarterly on the basis of the value ofthe net assets of Aberdeen Global V at the end of the relevantcalendar quarter.The following are exempt from such tax:a) the value of the assets represented by units held inother undertakings for collective investment, providedthat such units have already been subject to such taxprovided for by the Article 68 of the Law or by Article129 of the amended law of 20 December 2002 relatingto undertakings for collective investment;b) Funds:(i) the exclusive object of which is the collectiveinvestment in money market instruments and theplacing of deposits with credit institutions, and(ii) the weighted residual portfolio maturity of whichdoes not exceed 90 days , and(iii) that have obtained the highest possible rating froma recognised rating agency;c) Funds the securities of which are reserved for (i)institutions for occupational retirement provision, orsimilar investment vehicles, set up on one or severalemployers’ initiative for the benefit of their employeesand (ii) companies of one or several employers investingthe funds they own, in order to provide their employeeswith retirement benefits.No stamp duty or other tax is payable in Luxembourg on theissue or redemption of Shares except for a capital duty ofEuro 1,250 paid by Aberdeen Global V on its incorporation.No Luxembourg tax is payable on the realised capital gainsor unrealised capital appreciation of the assets of AberdeenGlobal V.Dividends and interest received by Aberdeen Global V on itsinvestments may be subject to irrecoverable withholdingtaxes at source.TAXATION OF SHAREHOLDERSLuxembourgUnder current Luxembourg laws, Shareholders are notsubject to any capital gains, income, withholding, gift,estate, inheritance or other tax in Luxembourg (except forshareholders domiciled, resident or having a permanentestablishment in Luxembourg and except for certain formerresidents of Luxembourg if owning more than 10% ofAberdeen Global V’s total Shares in issue).GeneralProspective investors should note that levels and basesof taxation may change and should ascertain fromtheir professional advisers the potential consequencesto them of acquiring, holding, redeeming, transferring,selling or switching any of Aberdeen Global V’s Sharesor receiving dividends therefrom under the relevant lawsof each jurisdiction to which they are subject, includingthe tax consequences and any foreign exchange controlrequirements. These consequences will vary with the law andpractice of a shareholder’s country of citizenship, residence,domicile or incorporation and personal circumstances.EUROPEAN TAX CONSIDERATIONThe Council of the European Union adopted, on 3 June 2003,Council Directive 2003/48/EC on the taxation of savingsincome. Under this Directive, Member States of the EuropeanUnion (“Member States”) will be required to providetax authorities of another Member State with details ofpayments of interest or other similar income paid by a payingagent within its jurisdiction to an individual resident in thatother member state, subject to the right of certain MemberState (Austria, Belgium and Luxembourg) to opt instead for awithholding tax system for a transitional period in relation tosuch payments. The applicable withholding tax is 20%, risingto 35% on 1 July 2011. Because of the Aberdeen Global Vstructure and the investment policy it pursues, it is presentlyexpected that dividends which may be distributed by a Fundand capital gains realized by Shareholders on the disposalof Shares in a Fund will not be subject to such reporting orwithholding.The foregoing statements on taxation are given on the basisof Aberdeen Global V’s understanding of present legislationand practice in force at the date of this document and issubject to change.26 Aberdeen Global V Prospectus