Manufacturing firms and tax experts have renewed calls on lawmakers to amend the law to factor inflation when calculating capital gains tax (CGT) accruing on the disposal of house, land and privately-held shares.
The calls come on the back of proposed changes to the Income Tax Act seeking to raise capital gains tax (CGT) from the current five percent to 15 percent from January next year, increasing the obligation for those looking to sell a house or land three-fold.
