TAX MATTERS: New tax law on listed shares not so mischievous after all!

PROCEEDINGS in the National Assembly pertaining to the debate on the Finance Bill have displayed the House’s displeasure at the prescribed rate on the sale of listed marketable securities, which some have termed a punitive measure.

The Budget brought forward a proposal and alluded to the fact that where a marketable security listed on the stock exchange is held for less than 270 days, a 40 percent capital gains tax will be charged on the date of it