Category Archives: Capital Gains Tax

Capital gains tax

Capital Gains Tax (CGT) EFFECTIVE DATE The proposed effective date for the implementation of Capital Gains Tax (CGT) is 1 October 2001 CGT APPLIES TO a residents worldwide assets a non-residents immovable property or assets of a permanent establishment in the Republic DISPOSALS CGT is triggered on disposals of an asset Important disposals include A donation Abandonment scrapping loss etc Vesting of an interest in an asset of a trust in the beneficiary Distribution of an asset by a company to a shareholder Granting of…

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