Capital Gains Tax On Sale – Accountants In Islamabad
October 13, 2022 ⚊ 1 Min read ⚊ Views 70 ⚊ BUSINESS
When you sell an item, you are subject to a tax known as the capital gains tax (CGT) on any profit you received from the sale of that asset. It is only the gain that is considered taxable, not the total amount that you receive, that is subject to taxation. Gain subject to taxation is often calculated as the difference between the amount you bought for the item and the price you sold it for. This is known as the “cost basis.” The individual who makes the disposal is the one who is responsible for paying the CGT.
Tags: Accountants, Accounting Services in Islamabad
