Investors disposing of properties will still be exposed to higher tax charges even with the reduction in proposed capital gains tax (CGT) after lawmakers rejected calls to factor inflationary changes on the buying prices.
The Finance and Planning Committee of the National Assembly has recommended that the proposed tax on disposal of property such as houses, land, and privately-held shares in the Finance Bill 2022 be reduced to 10 percent from 15 percent fronted by the Treasury.
