Government Increases Capital Gains Tax on Stock Market Earnings
Summary
The government has raised the capital gains tax on stock market earnings for the fiscal year 2083/84, setting final rates of 10% for shares held under one year and 7.5% for those held longer.
Key Points
- The government increased the capital gains tax on share trading profits based on holding periods.
- Shares sold within one year of purchase will be taxed at 10%, up from 7.5%.
- Shares held for more than one year will be taxed at 7.5%, up from 5%.
- Finance Minister Dr. Swarnim Wagle announced the new tax rates during the budget presentation, aiming to boost investor confidence by finalizing these rates.
