What is Capital gains tax?
A '''capital gains tax''' is a tax on the profit realized on the sale of a non-inventory [[asset]]. The most common capital gains are seen from the sale of [[stock]]s, [[Bond (finance)|bonds]], [[precious metal]]s, real estate, and [[property]]. Not all countries have a capital gains tax and most have different rates of taxation. Countries that do not impose a capital gains tax include [[Bahrain]], [[Barbados]], [[Belize]], [[Cayman Islands]], [[Isle of Man]],<ref>{{Cite web|url=http://www.iomguide.com/taxation.php|title=Isle of Man Guide – GOVERNMENT, Taxation|website=iomguide.com|access-date=2 February 2019}}</ref> [[Jamaica]],<ref>{{cite web|url=http://www.pwc.com/jm/en/business-in-jamaica/tax-system.jhtml |title=PwC Jamaica |publisher=Pwc.com |access-date=26 September 2018}}</ref> [[New Zealand]], [[Sri Lanka]], [[Singapore]], and others. In some countries, such as New Zealand and Singapore, professional traders and those who trade frequently are taxed on such profits as a business income. In the United Kingdom people paid £16.7 billion in capital gains tax in 2021-22.<ref>{{Cite news|last=Agyemang|first=Emma|date=2023-08-03|title=Britons paid record £16.7bn in capital gains tax in 2021-22|work=Financial Times|url=https://www.ft.com/content/1987db3a-a542-4052-88ce-440ff798784a|access-date=2023-08-04}}</ref> ==References== {{reflist}} {{stub}} [[Category:Taxation]]