Is the process of trading in shares subject to income tax?

Yes, and under the law of tax returns, records, documents and profit rates for the year 2015, where the article 21 stipulates the following:

A-For the purposes of calculating income tax on the profits of trading in shares from a natural person, a general partnership company, a limited partnership company, and a non-resident person, a percentage (0.08%) of the value of the sale of shares is approved by both the seller and the buyer for each sale.

B-Financial brokerage companies are obligated to deduct the tax referred to in Paragraph (A) of this Article from those involved in buying and selling shares, collecting it and supplying it to the Department within the next day of the sale process.

C-The withholding tax according to the provisions of Paragraph (B) of this Article is considered final for the entities referred to in Paragraph (A) thereof.

FAQS Taxonomy
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