How is capital gains tax applied on resale?
No capital gains tax is due if the property is held for more than 2 years by an individual. Before 2 years, a 5% tax applies to the net gain. Companies are subject to a 15% corporate income tax.
No capital gains tax is due if the property is held for more than 2 years by an individual. Before 2 years, a 5% tax applies to the net gain. Companies are subject to a 15% corporate income tax.