Capital Gains Withholding Tax is a tax withheld from any capital gain arising from the disposal of a specified asset. Specified asset means immovable property (e.g. land and buildings) and any marketable security (e.g. debentures, shares, unit trusts, bonds and stock). Conveyancer, practitioner, estate agent, Who should Depositary includes: building societies, Sheriff or Master of the High Court, stockbroker or financial withhold the institution who holds the whole or part of the price paid or payable to the seller Capital Gains in respect of the specified asset. Withholding Tax? of Withholding Tax A These are tabulated as follows: is Description of Period Rate of tax Specified Asset for Sale of listed Prior to 31 July 2009 5% of the sale price. and securities remission Sale of listed From 1 August 2009 1% of sale price of the tax securities before the Sale of non- to 1 September 2010 10% of sale price transfer listed securities of any amount Sale of non-listed From 1 October 2010 5% of sale price he holds securities to the seller Sale of immovable 1st February 2009 and 5% of the sale price (this tax after the property years becomes the final tax for sale or purchased prior to Capital Gains Tax purposes) transfer 1st February 2009 of a specified Sale of immovable 1st February 2009 and 15% of the sale price. asset. property subsequent years purchased and sold 1st February 2009
Capital Gains Withholding Tax is a tax withheld from any capital gain arising from the disposal of a specified asset. Specified asset means immovable property (e.g. land and buildings) and any marketable security (e.g. debentures, shares, unit trusts, bonds and stock). Who should withhold the Capital Gains Withholding Tax? A is for and remission of the tax before the transfer of any amount he holds to the seller after the sale or transfer of a specified asset. Depositary includes: Conveyancer, practitioner, estate agent, building societies, Sheriff or Master of the High Court, stockbroker or financial institution who holds the whole or part of the price paid or payable to the seller in respect of the specified asset. of Withholding Tax These are tabulated as follows: Description of Specified Asset Period Rate of tax Sale of listed securities Prior to 31 July 2009 5% of the sale price. Sale of listed securities From 1 August 2009 1% of sale price Sale of non- listed securities to 1 September 2010 10% of sale price Sale of non-listed securities From 1 October 2010 5% of sale price Sale of immovable property purchased prior to 1st February 2009 1st February 2009 and years 5% of the sale price (this tax becomes the final tax for Capital Gains Tax purposes) Sale of immovable property purchased and sold 1st February 2009 1st February 2009 and subsequent years 15% of the sale price.
1475484051.docx