Capital Gains Tax by Country 2024
Finland’s High Capital Gains Tax
Capital gains taxes are the taxes that are paid on gains made on investments, and Finland has one of the highest capital gains taxes in the world. When looking at capital gains tax by country rates, most countries are going to have a tax rate here in the 10 to 15 percent mark with stipulations on what is and isn’t taxed, and how much.
Finland has a capital gains tax of 30 to 32 percent, a figure that is based on realized income. Some of these taxes can be exempted during real estate transactions if the property has been owned and resided in over the previous two years. This is not an affordable country for investors.
France’s High Capital Gains Tax
France also has a high capital gains tax of 32.5 percent, to fund its more socialist policy. It is a policy that embodies the strategy of taxing the wealthy while leaving the middle class to pay taxes of an average rate. There was a time when the president of the country wanted to tax millionaires at a rate of 75 percent. Whether or not he was joking remains to be seen, but it was a strategy that still won him the election.
The short-term capital gains on realized income will have higher tax rates than others in France, and can be as high as 45 percent. Tax representatives during real estate purchases are not uncommon in France. This may not be an affordable place for investors, but the payoff can be significant.
Denmark’s Capital Gains Taxes
Europe is prone to being a heavily taxed area of the world to live in, and Denmark offers an excellent example here. This country offers a capital gains tax of almost 60 percent in some realized income categories, while 42 percent is closer to a normal standard of living in Denmark.
When profits on realized income are smaller, or less than $10 thousand, capital gains taxes are reduced to 27 percent. This is close to the American rate of capital gains taxes which is complained about by Americans frequently.
Heavy Capital Gains Taxes in the United States
Capital gains taxes on income that is realized from appreciated assets in the United States are regulated by the Taxpayer Relief Act of 1997 at a rate of 28 percent. This country also, like other countries, stipulates tax rates based on the amount of income realized.
The mindset here is that the wealthy get taxed more heavily. Additionally, longer-term gains have a higher tax rate closer to the 28 percent mark, while high tax brackets for general income can see tax rates close to 20 percent.
At the same time, in the United States, and all other countries, the capital gains tax by country rates are going to be determined by the current leadership of the country, and are subject to change with every election cycle.
- CIT = Corporate Income Tax
- PIT = Personal Income Tax
- FCT = Foreign Contractor Tax
Country | Corporate Tax Rate | Individual Tax Rate |
|---|---|---|
| Ireland | 33 | 33 |
| Mexico | 30 for a Mexican resident, accrued as regular taxable income. | 25 on the gross proceeds, or 35 on the net gain, for non-residents. | 10 |
| Greenland | 26.5 (i.e. 25 + 6 surcharge) | N/A |
| South Korea | 24 (same as normal CIT rates) | 45 for registered real property (varying depending on the type of asset, holding period, etc.) |
| South Africa | 21.6 | 18 |
| United States | 21 | 20 |
| Vietnam | 20 | N/A |
| Madagascar | 20 | 20 |
| Chad | 20 | 20 |
| Zimbabwe | 20 | 20 |
| Jordan | 20 | 30 |
| Puerto Rico | 20 | 15 - Resident | 25 - Non-resident |
| Cyprus | 20 | 20 |
| Guyana | 20 | 20 |
| Costa Rica | 15 (2.25 under certain conditions) | 15 (2.25 under certain conditions) |
| Kenya | 15 | 15 |
| Colombia | 15 | If the assets were held for two or more years, the gain will be taxed as a capital gain at a 15% flat rate (recapture rules are applicable). | If the assets were held for less than two years, the gain will be taxed as ordinary capital income (up to 39% for FY 2023). |
| Nicaragua | 15 | 15 |
| Serbia | 15 | 15 |
| Lebanon | 15 | 15 |
| Albania | 15 | 15 |
| India | 10-20 (applicable surcharge and cess) long-term and 15-40 (applicable surcharge and cess) short-term (may be exempt under Double Taxation Avoidance Agreement). | Long-term capital gain: 10% (on sale of equity shares/ units of equity oriented funds/units of business trust in excess of INR 100,000 and security transaction tax is paid). | For others, 10 for non-residents (without cost inflation adjustment) 20% for residents/ non-residents (with cost inflation adjustment). | Short-term capital gain: 15% (if securities transaction tax paid on sale of equity shares/ units of equity oriented funds/ units of business trust). For others, normal slab rate applies. |
| El Salvador | 10 or 30 | 10 or 30 (see El Salvador's Individual tax summary for more information). |
| Myanmar | 10 for non-oil and gas sector. | 40 to 50 for oil and gas sector. | 10 |
| Nigeria | 10 | 10 |
| Sri Lanka | 10 | 10 |
| Guatemala | 10 | 10 |
| Honduras | 10 | 10 |
| Sweden | 10 | 30 |
| Portugal | 10 | 28 |
| Panama | 10 | 10 |
| Fiji | 10 | 10 |
| Malta | 8 or 10 | 8 or 10 |
| Philippines | 6 | 15 - Resident | 20 or 25 - Non-resident |
| Pakistan | 5 | 15 |
| Rwanda | 5 | 5 |
| Mongolia | 02 for resident, | 20 for non-residents | 2 - Resident | 10 - Non-resident |
| Egypt | 0, 10, or 22.5 | 0, 10, or 25 |
| United Arab Emirates | UAE CT rates, where participation exemption is not available | N/A |
| Switzerland | The effective tax rate (ETR) depends on the company’s location of corporate residency in Switzerland. The ETR of a company resident at the capital cities of the Swiss cantons varies between 11.9% and 21.0%. Exceptions to be considered relate to the participation relief and capital gains on real estate. | Movable assets: Exempt. | Non-movable assets: Exempt for federal tax, and cantonal tax rate varies per canton. |
| Gabon | Subject to a discharge levy at the rate of 20% due by the Gabonese company whose rights are transferred. | 20 |
| Tajikistan | Resident: Subject to the normal CIT rate (18% or 13% for entities producing goods or 20 for the activities of financial institutions and mobile companies). | Non-resident: Capital gains are treated as other income subject to 15% rate. | 15 (Residents exempt for certain property if established requirements are met) |
| Brazil | Resident: 34 for legal entities (considered as part of regular income and subject to regular CIT rates). | Non-resident: 15 to 22.5 (WHT). | Non-resident in tax haven countries: 25 (WHT). | 22.5 |
| Papua New Guinea | PNG does not currently tax capital gains. | PNG does not currently tax capital gains. |
| Azerbaijan | Normal profit tax rate. | 25 |
| Kyrgyzstan | Normal profit tax rate (10%). | 10 (normal PIT rate). |
| Maldives | Normal income tax rate. | Normal income tax rate. |
| Saudi Arabia | Normal income tax rate applicable to the taxpayer. Non-resident capital gains tax rate is 20. | N/A |
| Chile | Normal FCT rate. | 40 |
| Macau | Normal complementary tax rate. | N/A |
| Italy | Normal CIT rate. For financial investments, the PEX regime at 95 exemption may be applied, provided that the conditions set by the law are met. | 26, although normal PIT rate applies in certain instances. |
| China | Normal CIT rate. | 20 |
| Japan | Normal CIT rate. | Gains arising from sale of stock are taxed at a total rate of 20.315 (15.315 for national tax purposes and 5 local tax). Gains arising from sale real property are taxed at a total rate of up to 39.63 (30.63 for national tax purposes and 9 local tax) depending on various factors. |
| DR Congo | Normal CIT rate. | N/A |
| Turkey | Normal CIT rate. | 40 |
| Germany | Normal CIT rate. | 25, plus 5.5% solidarity surcharge on tax paid (in total 26.375% plus church tax if applicable) |
| Thailand | Normal CIT rate. | Normal PIT rate. |
| United Kingdom | Normal CIT rate. | 10 or 20 |
| Tanzania | Normal CIT rate. | 10 - Resident | 30 - Non-resident | 30 - Sale of mineral or petroleum rights |
| France | Normal CIT rate. | 30, plus exceptional income tax for high earners at 4% |
| Uganda | Normal CIT rate. | 40 |
| Spain | Normal CIT rate. | 26 - Resident | 19 - Non-resident capital gains generated as a result of a transfer of assets |
| Algeria | Normal CIT rate. | 15 - Resident | 20 - Non-resident |
| Iraq | Normal CIT rate. | Normal PIT rate. |
| Argentina | Normal CIT rate. | 15 |
| Poland | Normal CIT rate. | Transfer of real property: Subject to the normal PIT rate. | Transfer of shares: 19%. |
| Morocco | Normal CIT rate. | 20 |
| Mozambique | Normal CIT rate. | Normal PIT rate. |
| Peru | Normal CIT rate. | 5 |
| Ivory Coast | Normal CIT rate. | N/A |
| Cameroon | Normal CIT rate. | 16.5 - Stocks and shares 30 - Real property |
| Venezuela | Normal CIT rate. | Normal PIT rate. |
| Australia | Normal CIT rate. | Normal PIT rate. |
| Malawi | Normal CIT rate. | Normal PIT rate. |
| Kazakhstan | Normal CIT rate. | 10 (normal PIT rate). |
| Romania | Normal CIT rate. | Normal PIT rate. |
| Senegal | Normal CIT rate. | Normal PIT rate. |
| Cambodia | Normal CIT rate. | 20 (being postponed until January 2024). |
| Bolivia | Normal CIT rate. | N/A |
| Tunisia | Normal CIT rate. | 10 or 15 |
| Dominican Republic | Normal CIT rate. | Normal PIT rate. |
| Czech Republic | Normal CIT rate. | Normal PIT rate. |
| Israel | Normal CIT rate. | 25 |
| Austria | Normal CIT rate. | 28 |
| Turkmenistan | Normal CIT rate. | Normal PIT rate. |
| Libya | Normal CIT rate. | Normal PIT rate. |
| Paraguay | Normal CIT rate. | Normal PIT rate. |
| Bulgaria | Normal CIT rate. | 10 |
| Republic of the Congo | Normal CIT rate. | Normal PIT rate. |
| Denmark | Normal CIT rate. | Normal PIT rate. |
| Finland | Normal CIT rate. | 30 (and 34% on income exceeding EUR 30,000 annually). |
| Norway | Normal CIT rate. | Normal PIT rate. |
| Slovakia | Normal CIT rate. | 19 |
| Mauritania | Normal CIT rate. | Normal PIT rate. |
| Kuwait | Normal CIT rate. | N/A |
| Croatia | Normal CIT rate. | 10%, increased for municipal tax (levied at the rates ranging from 0% to 18%, depending on taxpayer's place of residence). |
| Georgia | Normal CIT rate. | General capital gain tax rate is 20%. | Tax rate is reduced to 5% in case of supply of residential apartment and the land attached to it or a supply of a vehicle. |
| Bosnia and Herzegovina | Normal CIT rate. | Normal PIT rate. |
| Moldova | Normal CIT rate. | Normal PIT rate (taxable gain basis represent 50% from the capital gain). |
| Armenia | Normal CIT rate. | 10 or 20 (depending on the type of property and whether sold to a tax agent or individual) |
| Lithuania | Normal CIT rate. | 20 |
| Botswana | Normal CIT rate. | 25 |
| Equatorial Guinea | Normal CIT rate. | Normal PIT rate. |
| Latvia | Normal CIT rate. | 20 |
| Timor Leste | Normal CIT rate. | Normal PIT rate. |
| Luxembourg | Normal CIT rate. | Normal PIT rate. |
| Montenegro | Normal CIT rate. | 15 |
| Cape Verde | Normal CIT rate. | Disposal of immovable property, intellectual property, shareholdings: 1% | Gambling, lottery, betting, prizes awarded in sweepstakes, contests: 20% |
| Iceland | Normal CIT rate. | 22 |
| Taiwan | Normal CIT rate, except for marketable securities and real properties. | Normal PIT rate, except for securities and real properties. |
| Greece | Normal CIT rate unless the participation exemption is applicable. | 15 |
| Indonesia | Normal CIT rate except for certain tax objects subject to final income tax. | Normal PIT rate, except for certain tax objects subject to final income tax (see the Individual tax summary). |
| Uzbekistan | Normal CIT rate - Residents | 20 - Non-residents | Normal PIT rate - Resident 12 - Non-resident |
| Belgium | Normal CIT rate (except capital gains on shares under certain conditions). | In general exempted (except in some specific cases) |
| Netherlands | Normal CIT rate (25.8%). Capital gains on qualifying participations are tax exempt. | N/A |
| Slovenia | Normal CIT rate (19%). | 25 |
| Ukraine | Normal CIT rate (18%). | Taxable as ordinary income. |
| Hungary | Normal CIT rate (9%); however, the participation exemption regime may apply. | 15 (normal PIT rate). If certain conditions are not met, an additional 15.5% social tax is also payable. |
| Jamaica | No capital gain tax regime. | Transfer tax at 2% on transfers of Jamaican real estate and securities. | No capital gain tax regime. Transfer tax at 2% on transfers of Jamaican real estate and securities. |
| New Zealand | New Zealand does not have a comprehensive capital gains tax. However, capital gains derived by a company will generally be taxed as dividends on distribution to shareholders, subject to certain exceptions. | New Zealand does not have a comprehensive capital gains tax. |
| Zambia | N/A | N/A |
| Hong Kong | N/A | N/A |
| Singapore | N/A | N/A |
| Namibia | N/A | N/A |
| Bahrain | N/A | N/A |
| Trinidad and Tobago | N/A | N/A |
| Estonia | N/A | Normal PIT rate. |
| Mauritius | N/A | N/A |
| Eswatini | N/A | N/A |
| Barbados | N/A | N/A |
| Saint Lucia | N/A | N/A |
| Isle of Man | N/A | N/A |
| Cayman Islands | N/A | N/A |
| Bermuda | N/A | N/A |
| Gibraltar | N/A | N/A |
| Palestine | Income tax is imposed on capital gains. | Income tax is imposed on capital gains. |
| Canada | Half of a capital gain constitutes a taxable capital gain, which is included in the corporation's income and taxed at ordinary rates. | Half of a capital gain constitutes a taxable capital gain, which is included in the individual's income and taxed at ordinary rates. |
| Malaysia | Generally, gains on capital assets are not subject to tax, except for gains arising from the disposal of real property situated in Malaysia, which is subject to RPGT (up to 30%). | Generally, gains on capital assets are not subject to tax, except for gains arising from the disposal of real property situated in Malaysia, which is subject to RPGT (up to 30%). |
| Oman | Gains on sales of securities listed on the Muscat Securities Market are exempt from taxation. Gains on transfers of other assets are taxable as ordinary income. | N/A |
| Ethiopia | Class A taxable assets relate to immovable assets, and the CGT rate is 15%. | Class B taxable assets relate to shares and bonds, which attract CGT at the rate of 30%. | Class A taxable assets relate to immovable assets, and the CGT rate is 15%. | Class B taxable assets relate to shares and bonds, which attract CGT at the rate of 30. |
| Uruguay | CIT, taxed at 25% (there is no corporate capital gains tax in Uruguay). | There is no individual capital gains tax in Uruguay. Subject to IRPF or IRNR, taxed at 12 (with some exceptions). |
| Qatar | CIT rate. | N/A |
| Ecuador | Capital gains generated by the transfer of equity rights (i.e. shares) are subject to a 10% income tax rate. | Capital gains generated by the transfer of equity rights (i.e. shares) are subject to a 10% income tax rate. |
| Liechtenstein | Capital gains derived from the sale of shares are tax-exempt. Capital gains from the sale of real estate are subject to a separately assessed real estate profit tax of up to 24%. | Capital gains derived from the sale of shares are tax-exempt. Capital gains from the sale of real estate are subject to a separately assessed real estate profit tax of up to 24%. |
| Angola | Capital gains arising from the disposal of financial instruments: 10% | Generally, the Investment Income Tax for capital gains is 10%. |
| North Macedonia | Capital gains are part of the regular profit for the year, thus subject to the normal CIT rate. | 10 (normal PIT rate). |
| Ghana | Capital gains are included as part of income and taxed at the applicable corporate income tax rate. | Capital gains are included as part of income and taxed at the individual’s marginal/graduated tax rate for residents and 25% for non-residents; or 25% (upon election and the gains are as a result of the realisation of investment assets). |