Developers see sales softening on 15pc tax

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Property developers are bracing for a slowdown in sales of homes as the capital gains tax triples to 15 percent. PHOTO | POOL

Property developers are bracing for a slowdown in sales of homes as the capital gains tax triples to 15 percent.

The change in the rate of tax levied on property transfers follows the coming into effect of the amendment on January 1 and which was carried through the 2022 Finance Act.

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Note: The results are not exact but very close to the actual.