AS A REAL ESTATE DEVELOPER ARE YOU RESPONSIBLE TO PAY BOTH CORPORATE TAX AND CAPITAL GAINS TAX?
The Income Tax Act (ITA), CAP 470 provides for payment of corporate tax chargeable from the profits of a corporation and payment of Capital Gains Tax (CGT) as levied on gains made from the transfer of a property acquired on or before January 2015. This leaves real estate developers with the question on whether they …