SAC: exchange of shares upon capital increase from own sources interrupts time test

The Supreme Administrative Court (SAC) has unambiguously concluded that the time test for exempting proceeds from the sale of securities from personal income tax is considered interrupted…

Time test for tax exemption upon spouses’ community property settlements

The Coordination Committee of the General Financial Directorate (GFD) and the Chamber of Tax Advisers confirmed that the time test for the tax exemption of income from the sale of shares …

Ministry of Finance income tax plan for 2021

2020 has just begun, but two new amendments to the Income Tax Act for 2021 are already being discussed. The ministry is planning to introduce a lump-sum tax for selected individuals, monetary contributions for employee meals and the cancellation of…