How Much Is Capital Gain Tax in Namibia?
WHAT IS CAPITAL GAIN TAX?
Capital gain tax is the tax on profits or gains realized on the sale or disposal of an asset either than trading inventory. The most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property.
WHAT IS THE NEED OF CAPITAL GAIN TAX?
Capital gain tax helps investors know the profits they make when an investment is sold.
WHAT IS CAPTITAL GAIN TAX USED FOR?
The capital gain tax can be used by investors to reinvest profits from selling an investment property into a like-kind asset.
WHEN CAN YOU STOP PAYING CAPITAL GAIN TAX?
Sometime back, the IRS allowed people over the age of 55 a tax exemption for home sales. Somewhere in 1997 the exclusion was closed in favour of the expanded exemption for all homeowners. Current tax law does not allow you to take a capital gain tax break based on age.
HOW DO YOU AVOID CAPITAL GAIN TAX?
There’s no way to avoid capital gain tax as long as you are an investor and a business person. However, there are a number of perfectly legal ways to minimize your capital gain tax;
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Hang onto your investment for more than one year
Keep track of any qualifying expenses that you incur in making your investment.
HOW MUCH IS CAPITAL GAIN TAX IN NAMIBIA?
The standard rate of capital gain in Namibia is 10% where a company holds more than 25% shares in the Namibian company. The tax payable in some cases is 20%.