Capital gains taxation in major Western European and Asian countries

Cover of: Capital gains taxation in major Western European and Asian countries |

Published by Law Library of Congress in Washington, DC .

Written in English

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  • Capital gains tax -- Law and legislation -- Europe,
  • Income tax -- Law and legislation -- Europe,
  • Capital gains tax -- Law and legislation -- Asia,
  • Income tax -- Law and legislaion -- Asia

Edition Notes

Book details

StatementIvan Sipkov, Chief, European Law Divison.
ContributionsSipkov, Ivan, 1917-
LC ClassificationsK4505 .C37 1989
The Physical Object
Pagination28 leaves ;
Number of Pages28
ID Numbers
Open LibraryOL16483148M
LC Control Number2007406748

Download Capital gains taxation in major Western European and Asian countries

The capital gains tax exists under various forms and is levied at various rates in numerous countries. The United States was the first country to introduce it. It undoubtedly has effects on the market economy. The first consequence To this, one must add that in most European countries, following the entry.

internationally for capital, high capital gains tax rates place the United States at a disadvantage relative to its competitors. Some of the United States' major competitors, such as Germany and Hong Kong, exempt long-term gains from taxation altogether; and other countries, such as Japan, tax capital gains File Size: KB.

Capital gains are taxed by the income tax. Domestic and foreign, see Taxable income and Tax rates. Income tax on indirect transfer. Income tax on indirect transfer may apply if a non-resident entity is transferred provided that at least 30 percent of value of the entity is represented by assets located in Argentina and provided that the transferor owns at least 10 percent of the capital of.

In arriving at effective capital gains tax rates, the Global Property Guide makes the following assumptions: These assumptions are critical. In many countries a holding period of less than 5 years results in capital gains being taxable.

But a longer holding period often results in no capital gains. This edition of the Taxand Global Guide to M&A Tax has been designed as a desktop reference book covering 37 countries.

Like its predecessors, it provides at-a-glance insight into the tax treatment of mergers and acquisitions worldwide. It is intended to facilitate interaction within global planning teams by providing a basic introduction. Capital Gains Taxation by Country (OECD) Top long-term capital gains tax rate ()* Integrated capital gains tax rate ()** Italy Denmark 42 France United States Sweden 30 Norway 28 Germany 25 Finland 28 United Kingdom 28 Australia Japan 10 Spain [ ].

The Capital Gains Tax Rate in USA is unfavorable for economic growth when compared with other major economies in the world, as per a report published by the American Council for Capital Formation (ACCF), based in Washington,DC. More specifically the study was based on the long-term capital gains tax rates for individuals.

Capital Gains Tax. Levied at a rate, which depends on your total taxable income, between 10% and 28%. VAT. This is a sales tax levied at the point of sale at a standard rate of 20% or a reduced rate of 5% (for e.g.

fuel). Many items are exempted e.g. basic foodstuffs, children’s clothes and prescription medicine. Janet A. Meade, "The Impact of Differential Capital Gains Tax Regimes on the Lock-In Effect and New Risky Investment Decisions," The Accounting Review, Vol.

65, No. 2 (April ), pp. Asia: Capital gains taxes (%). In arriving at effective capital gains tax rates, the Global Property Guide makes the following assumptions: The property is directly and jointly owned by husband and wife; They have owned it for 10 years; It is their only source of capital gains in the country; It has appreciated in value by % over the A capital gains tax (CGT) is a tax on the profit realized on the sale of a non-inventory most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property.

Not all countries impose a capital gains tax and most have different rates of taxation for individuals and corporations. The island nation of ab people was one of the countries blacklisted as a tax haven by the EU of the lowest corporate tax rates in Europe.

income tax, and no capital gains tax. The U.S. capital gains tax only applies to profits from the sale of assets held for more than a year, referred to as "long term capital gains."The rates are 0%, 15%, or 20%, depending on your tax.

Taxation is, by and large, the most important source of government revenue in nearly all countries. According to the most recent estimates from the International Centre for Tax and Development, total tax revenues account for more than 80% of total government revenue in about half of the countries in the world – and more than 50% in almost every country.

Capital gains tax describes the federal tax imposed on certain types of investments or properties that taxpayers sell for a profit. While there are a few very generous capital gain tax.

17In relation to total tax revenue, however, capital taxes in France account for a proportion that is close to the European average, that being 23%, as opposed to the average of 20% in the EUThe relatively heavy taxation of capital income in France is therefore primarily a reflection of the relatively heavy fiscal burden across all taxes, even though capital income is not particularly badly.

The list focuses on the main indicative types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST, but does not list capital gains tax.

Some other taxes (for instance property tax, substantial in many countries, such as the United States) and payroll tax are not shown here. Estonia ( percent), Latvia ( percent), and the Czech Republic ( percent) have the lowest top income tax rates of all European countries covered.

The countries with the highest top income tax rates are Slovenia ( percent), Portugal ( percent), and Belgium ( percent).

The threshold at which the top income tax rate applies also plays an important role. Taxation in Asia Taxation in Asia This publication presents an overview of tax policy and tax administration issues—how countries in Asia and the Pacific compare with the rest of the world in main taxes, revenue collections, tax morale, and others.

The implications of reducing reliance on customs tariff. Dominica is a pure tax haven that imposes no income taxes, no corporate taxes, and no capital gains tax on income earned abroad. There are also. TOTAL TAX REVENUE. US taxes are low relative to those in other high-income countries (figure 1).

Intaxes at all levels of US government represented 24 percent of gross domestic product (GDP), compared with an average of 34 percent for the other 35 member countries of the Organisation for Economic Co-operation and Development (OECD). ducted can be taken as tax credits No W/T on capital gain Pay PIT in Thailand Individual, residing in foreign country (non-DTA) W/T at 15% on Capital Gain No PIT in Thailand on Capital Gain No W/T on Capital Gain No PIT in Thailand on Capital Gain Individual, residing in foreign country.

You will pay US tax on capital gains, dividends, rents, royalties, and passive income no matter where you live. Category two includes countries that tax residents on their worldwide income. In most cases, a resident is anyone who spends more than days a year in the country.

Canada, Western Europe, Japan, Australia, and South Africa. developing countries The lower-income countries of the world, most of which are in Africa, Asia, and Latin America. newly industrialized countries (NICs) Countries that have industrialized and grown rapidly over the past 40 years.

Chapter36W 3/24/04 PM Page 1. One of the world's highest tax rates, and the highest of Western European countries, has been imposed on the citizens of Belgium. On average, Belgium taxpayers are. The Chinese gains tax also can result in incremental tax if another foreign subsidiary of the U.S.

company sells the intermediary holding company and is not subject to U.S. or foreign taxation. As mentioned above, the U.S. capital loss adjustment is the amount by which the foreign-source capital gain exceeds the amount of worldwide capital gain: $ − $ = $ Step 1: The $ U.S.

capital loss adjustment must be apportioned between the foreign passive and general income categories.D apportions $ of the $ U.S. capital loss adjustment to passive category income ($   The Czech Republic and Belgium in the EU have no capital gains tax on share sales.

CZ requires a 3 year holding period. They are the most West of EU nations offering this amazing deal. Of the two, CZ is also considerably cheaper than Belgium.

I vo. Short-term capital gains tax rate: All short-term capital gains are taxed at your regular income tax a tax perspective, it usually makes sense to hold onto investments for more than a year.

Long-term capital gains tax rate: The tax rate paid on most capital gains depends on the income tax in the 10% and 12% income tax brackets generally pay zero capital gains tax. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - List of Countries by Personal Income Tax Rate.

List of Countries by Personal Income Tax Rate - provides a table with the latest tax rate figures for several countries including actual values, forecasts, statistics and historical data.

Non-resident individuals owning property in France also pay capital gains tax at 19% plus surtaxes, regardless of where they live. They are also subject to the % social charges, but only on real estate capital gains. Capital gains tax in French is called impôt sur les plus values.

Capital Gains. Domestic investors in China aren’t subject to capital-gains taxes. Profits made before Nov. 17,in the QFII program won’t be subject to the capital-gains tax, according to the authorities. The Capital Gains Tax Return (BIR Form No. ) shall be filed and paid within thirty (30) days following the sale, exchange or disposition of real property, with any Authorized Agent Bank (AAB) or Revenue Collection Officer (RCO) of the Revenue District Office (RDO) having jurisdiction over the place where the property being transferred is located.

- Capital gains on sale of shares of ISC and ISD: Where there is a potential opportunity to divest stake in any one or both of the Indian subsidiaries, capital gains on sale of shares shall technically arise only in India and could be subject to 20/40% tax based on the period of holding of shares.

Thomas Piketty’s voluminous book, Capital in the Twenty-First Century, created a rare academic frenzy in this country and did so by playing a major role in offering a specific. Former World Bank economist set to become the eastern European nation’s first female leader UK bosses rush to sell stakes over capital gains tax fears a pro-western former World Bank.

Those from the 15 countries which made up the EU beforeincluding France, Germany, Italy and Spain, contributed 64% – £15bn more in taxes.

Capital gains taxes: a comparative survey / Michael Littlewood it explains how a number of countries tax capital gains and the successes and pitfalls of these methods.

Examining key issues in the theory and practice of capital gains taxation in a general context, this book also provides a detailed analysis of the tax systems of Australia.

A amendment to the income tax act that permits the government to tax foreign companies retroactively on capital gains remains on the books and continues to unnerve foreign investors. Further, while the capital gains tax clauses in China’s tax. treaties do not contain beneficial ownership requirements, the PRC tax authorities have repeatedly denied treaty relief for capital gains on the grounds of substance and the list of negative factors in Circular As a result, Circular has become a hot button issue for.

In the Asia-Pacific region, equities moved broadly higher, extending Monday’s gains. Japan’s Topix climbed per cent, Hong Kong’s Hang Seng was up per cent and South Korea’s Kospi.Lower capital gains taxes would favor assets that pay off in the form of capital gains.

This would have both good and bad effects on the mix of investment. A lower capital gains tax would reduce the double taxation of corporate equity and might encourage risk-taking and investment in new, innovative. The United Arab Emirates has one of the world's highest per-capita incomes at $49, It has no personal income or capital gains taxes.

Instead of generating revenue from personal income, the.

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