In a letter penned to FBR Chairman Shabbar Zaidi, SECP Chairman Farrukh Sabzwari pointed out that SHC's decision regarding CGT
on listed companies had devastated the capital market.
He had sought court order against the revised amount of capital gains tax (CGT
) determined by the government on the sale of 75 percent stakes of his firm, Nepal Satellite Telecom.
However, not all transfers attract CGT
. Key exemptions include the transfer of property to a spouse, transfer of property worth less than Sh3 million, transfer of securities listed or traded in the Nairobi Stock Exchange as well as machinery and motor vehicles, among others.
Budget proposals for next fiscal year 2019-20, available with Pakistan Today, revealed that giving rationale to its proposals, the PSX said that the exemption of CGT
for foreign investors would facilitate substantial capital inflow by relaxing the cumbersome and time consuming account opening and registration process for foreigners as they get discouraged and overwhelmed with the current registration structure and look for better investment alternatives in regional markets.
In terms of design, the CGT
blends functionality with innovation.
In a statement the DOTr said President Duterte led the inauguration of the CGT
and the ceremonial loading of a container to a roll-on/roll-off (RoRo) barge bound for Manila.
The aggregate amount of CGT
arising on disposal of shares at Pakistan Stock Exchange, for the period October 01, 2018 to October 31, 2018, will be collected on Thursday, November 29, 2018 through respective settling banks of the clearing members, along with refund or adjustments on the basis of amount collected up to previous month, the NCCPL said.
Deputy Economic Affairs Minister Senator Dr Mohd Radzi Md Jidin said the CGT
is under the purview of the Finance Ministry and no decision has been made regarding its implementation.
The proposal is that landlords can sell a property to a tenant of three years or more without paying CGT
on any growth in value as long as half of the CGT
liability is split with the tenant.
Similar to Entrepreneurs' Relief, gains made by investors on the disposal of their shares in trading companies can attract a lower rate of 10% CGT
on qualifying share disposals up to a lifetime limit of PS10,000,000.
Pharmaceutical company Profounda Inc stated on Thursday that it has passed the US Food and Drug Administration's Competitive Generic Therapy (CGT
) Designation for the planned future ANDA filing of Minocycline Hydrochloride Microspheres in 1 mg under section 506H(b) of the FD&C Act.