The Budget for the fiscal year 2012/13 which was presented on 1 June 2012 was approved on 14 June 2012 with some amendments. The Finance Bill 2012 containing the Budget proposals are as follows:
Direct taxation
The main direct taxation proposals are as follows:
| – | a capital gains tax (CGT) on the sale of immoveable property has been proposed. A rate of 10% will apply if the property is disposed o… |