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Why capital gains tax doesn’t bode well for unquoted market
Taxes collected from financial deals arising from the transfer of real estate and shares in privately-held firms posted a double-digit fall in the third quarter of the current financial year. FILE PHOTO | SHUTTERSTOCK
Some things don’t work well together; water and oil, Arsenal and trophies, Slay queens and a tight budget, politicians and answering questions, markets and, of course, taxes.
On the latter, it is the recent hike in capital gains tax (CGT) which is most unwelcome.
