Capital gains are taxed by the income tax (see Taxable income and Tax rates.).

Stamp duty or stamp tax is a provincial tax triggered by the entering of written agreements signed by both parties. The tax rate applicable varies in connection with the province and in connection with the agreement. Tax rates are of 0.2 percent up to 5 percent of the total amount of the agreement.

There are legal mechanisms to avoid the payment of stamp tax by entering into an agreement as an offering letter.

Transfers of shares, assets and real estate property are taxed under the income tax (see Taxable income and Tax rates.).

No capital duty. Stamp duties and transfer taxes may be imposed at the state and territory level on transfers of assets and other "dutiable transactions," which includes certain transfers of shares in "landholders."

Where applicable, exemption may be available on application to, and approval by, the relevant state/territory revenue office.

From July I, 2016, share transfer duty was abolished in all states and territories.

Stamp duty

Austria levies stamp duty on certain legally predefined transactions for which a written contract has been established. Stamp duty has to be paid if at least 1 Austrian party is involved or, even if a contract is concluded between non-Austrian parties only, if the subject of the contract relates to Austria. The Austrian administration's understanding of a ‘written contract’ is very broad and covers not only paper contracts but also contracts concluded by electronic means (eg, electronically signed emails).

Relevant legal transactions subject to stamp dutyinclude:

• Instructions (2 percent)

• Rental agreements: eg, rental contracts for movable or immovable property, leases (1 percent)

• Declarations of surety and specific guarantees (1 percent)
• Mortgage (1 percent)
• Assignments of receivables (0.8 percent)

It should be mentioned that exemptions are available. Loan and credit agreements are not subject to stamp duty.

There is no capital duty. Share transfers are not subject to stamp duty or transfer tax. Stamp duties and transfer taxes may, however, be imposed on other transactions (eg, transfer of real estate).

Brazil does not impose capital duty or stamp duty. Transfer taxes may be imposed at the state (ITCMD) or local level (ITBI) as discussed below.

Canada does not levy a general capital tax, but federal and provincial capital taxes may be imposed on certain financial institutions. Canada does not have a general stamp duty; however, transfer taxes may be imposed at the provincial level. Some provinces and municipalities also impose speculation tax or vacancy taxes on residential properties.

Credit operations (eg, granting of loans, issuance of bonds, or other operations the create a lender-borrower relationship) are subject to Stamp Tax. Generally it becomes chargeable upon the issuance of the document evidencing the credit operation or when it is accounted for by a Chilean entity if the document is issued abroad. Maximum rate is 0.8 percent imposed on the principal amount. 

There is no capital duty in the PRC upon capital contribution.  China has also abolished registration fee based on the amount of registered capital of an enterprise. Stamp duty and transfer taxes (value-added tax) may be imposed on asset and equity transfers as applicable.

• Capital and Stamp Duties

The Registry Tax levies the registration of documents before the Chamber of Commerce and before the Registry of Public Deeds, including the increase of capital in a corporation and any transfer of immovable property. Tax rates vary from 0.1 percent to 1 percent.

Generally, for capitalizations the rate is 0.7% for capital and 0.3% for share premium, but rates may vary depending on the local jurisdiction where the entity is registered.

For documents that do not embed any value it applies a fixed value.

• Financial Transactional Tax  

The 0.4 percent financial transactional tax is accrued on every transaction aimed, in general, at withdrawing resources from checking, deposit or savings accounts, and cashier checks. 

50 percent of Financial Transaction Tax is a deductible expense regardless if it is related or not to the income-producing activity.

Sale of Finnish shares (of a non-real estate company) is subject to a 1.5-percent transfer tax on equity value of the transaction payable by the buyer. Transfer tax is not applicable on transfers of Finnish shares between non-Finnish parties.

For transfer tax on the sale of real estate, please see “Special rules applicable to real property” above. 

No stamp duties. The Finance Act for 2019 repealed registration duties levied on share capital increases of French companies and most reorganizations. However, registration duties at a proportional rate may be levied, in particular in the cases of acquisition of shares in a capital company, transfers of real estate assets, real estate companies or going concerns.

According to the RETT Act, RETT should be levied on (i) the transfer of German real estate, or (ii) the direct or indirect transfer of 90 percent or more of the interest in a partnership owning German real estate to new partners within 10 years, or (iii) the direct or indirect transfer of 90 percent or more of the shares in a corporation owning German real estate to new shareholders within 10 years, or (iv) the direct or indirect aggregation at the level of 1 shareholder or interest holder of 90 percent or more of the shares in a corporation or interest in a partnership owning German real estate. Furthermore, a transaction which has the effect that a taxpayer (directly or indirectly, or partly directly and partly indirectly) holds an economic participation of at least 90 percent in a company or partnership owning real property also triggers RETT. The tax rate ranges between 3.50 percent and 6.50 percent among the German federal states. Before the RETT reform effective from July1, 2021, RETT was triggered upon the transfer of at least 95 percent of shares or interests in a partnership within 5 years.

There are no other transfer taxes, capital duties or stamp duties. 

Hong Kong does not have capital duty.

For shares transfer or sales of shares, ad valorem stamp duty is payable in respect of contract notes at the rate of 0.2 percent of the consideration or the fair market value of the shares, whichever is higher, and a fixed duty of HKD5 each is payable in respect of the instrument of transfer.

For sale or transfer of immovable property in Hong Kong, ad valorem stamp duty at applicable rates is payable depending on the type of immovable property being transferred. In addition, residential property transactions in Hong Kong may also attract Buyer's Stamp Duty and Special Stamp Duty.

For rental of immovable property in Hong Kong, stamp duty is payable at up to 1 percent of the average yearly rent.

In case of an intra-group transfer, a stamp duty exemption may apply.

There is no capital duty in Hungary. There is no standard rate for stamp duties – they are imposed in administrative and court procedures.

Generally, transfer tax is payable by the purchaser at a rate of 4 percent of the value of the property up to HUF1 billion, and 2 percent on the value exceeding HUF1 billion (approximately USD2,900,000) (capped at HUF200 million per property, approximately USD580,000).

ROC charges are payable when the authorized share capital of a company is increased, at progressive rates depending on the value of capital. Stamp duties and transfer taxes may be imposed at the state or local level.

No capital duty applies in Ireland. Stamp duty generally applies to certain documents which effect certain transactions which are executed in Ireland (eg, documents effecting share transfers or transfers of ownership of other assets). The rate of stamp duty varies depending on the nature of the transaction and the assets. The transfer of Irish shares is subject to 1 percent stamp duty and the transfer of non-residential property is subject to stamp duty at 7.5 percent.

Intellectual property transfers should be exempt from stamp duty where the type of intellectual property being transferred falls within the scope of a "specified intangible asset" which is broadly defined.

There is no Israeli capital duty or stamp duty.

VAT at a flat rate of 17 percent is imposed on most goods sold and services rendered. Export of goods and intangible assets are generally subject to 0-rate VAT. Provision of services to non-residents may also enjoy the 0-rate VAT under certain conditions.

Purchase tax is imposed on the purchase of real property or interest in real estate company, as described under Special rules applicable to real property.

No capital duty. Stamp duties and transfer taxes may be imposed on specific corporate transactions.

Upon incorporation of a company or an increase in registered capital, a certain amount of the registration tax is required that is based on the capital amount. Stamp duty may be imposed depending on the types of the documents or agreements. With respect to transfer taxes, an acquirer (a new owner) of real estate must pay the real estate acquisition tax, and the fixed asset tax must be paid by the publicly registered owner of fixed assets by January 1 of each year. Also, the registration tax is required for a real estate registration in order to perfect the transfer.

No capital duty is levied in Luxembourg (except in particular cases). A registration fee of EUR75 is imposed on incorporation or amendments to bylaws.

There is no stamp duty in Luxembourg.

A transfer tax is applied to a transfer of immovable property. A 6 percent basic rate and a 1 percent transcription tax are applicable. For real estate located in Luxembourg City, an additional charge amounting to 50 percent of the transfer tax is imposed (exemptions are available).

There is no capital duty and stamp duty in Mexico. As noted above, there are real estate transfer taxes.

Stamp duty and real estate transfer tax are applicable in Mozambique.

Stamp duty is due on all documents, contracts, books, papers and acts established by law that occurred in Mozambique. Stamp duty is also due in case of documents or acts entered into outside the national territory when they are presented in Mozambique for any legal purpose. Apart from specific rates that apply to transactions and documents specifically provided in the Stamp Duty Rates Table, there is a residual rate (MT200,000) applicable in case of contracts, addenda, agreements or conventions, which are not specifically provided for therein.

Real estate transfer tax is due in respect of the transfer, on an onerous basis, of the right of ownership or other incidental rights on real property; real property is understood to be “urban buildings” located within the national territory.

Real estate transfer tax is levied on the transfer of shares of Dutch real estate companies. Transfer of the shares is subjected to 8-percent transfer tax if the assets consist of mainly (ie, 50 percent or more) real estate.

Direct transfer of Dutch real estate is also subject to 8-percent transfer tax, or 2-percent in the case of owner-occupied dwellings. Certain exemptions may apply.

Private individuals may, under certain conditions, benefit from a transfer tax exemption on houses that are used for personal dwelling.

The Netherlands does not levy any other stamp duty, capital duty or registration tax of any kind.

The sale or other transfer of real estate is generally subject to 2.5-percent stamp duty, based on the market value of the real estate. Transfer tax is generally not levied.

Transfer Taxes

Real estate transfer taxes (Alcabala) apply to any transfer of property of urban or rural real estate, whether it is a free transaction or not, and in any mode of transferring.

Real estate transfer taxes are levied at 3 percent of the sale price (or the municipal reference value, whichever is higher) and payable by the buyer. The first 10 tax units (USD13,000) of the transaction are tax-exempt.

There is no capital duty. Stamp duties and transfer taxes are imposed for certain types of sales and transactions. In particular, 1 percent transfer tax is payable on direct sales of shares in Polish companies.

Stamp duty and transfer tax are applicable in Portugal.

There is no capital duty. Transfer taxes and notary fees may be imposed upon sale of a real estate property.

No capital duty or transfer tax is levied in Russia.

A legal entity that performs certain legal actions is required to pay a stamp duty. The list of such actions includes the following:

• State registration of a legal entity
• Registration of branches and representative offices of a foreign legal entity
• Registration of the title transfer in relation to real estate property
• The obtaining of a license to conduct certain activities
• Initiation of a court action, and
• Notary services.

Stamp duty is payable on dutiable documents relating to any immovable property in Singapore and any stocks or shares in Singapore incorporated companies. Stamp duty relief is available subject to conditions.

There is no capital or stamp duties. Transfer taxes are payable on the transfer of securities and properties.

Inheritance tax, gift tax, stamp tax, securities transaction tax and capital duty may be imposed at national tax level.

1 percent capital duty applies to share capital distributions and to dissolution of Spanish entities, to be paid by the shareholders.

Transfer tax is applicable on certain transactions, including the transfer of real estate and the lease of real estate exempt from VAT. Transfer tax is not recoverable and paid by the buyer or lessee.

Stamp duty is applicable to notarial deeds over a valuable right or asset which can be registered in a public registry, among other transactions, with rates generally ranging from 0.5 percent to 3 percent depending on the region and the transaction.

Stamp duty may be triggered on the sale of real estate. There is no stamp duty or similar on the sale of assets. Sweden does not have transfer tax.

The tax on issued securities (also called stamp issuance duty) is 1 percent of the amount received in consideration for the participation rights, but not less than the nominal share capital with exemption for the first CHF1 million. This exemption is applicable for the establishment of corporations and for increases in capital up to CHF1 million. The tax base is equal to the amount paid in exchange for the remittance of the shares (ie, the nominal value and capital surplus). Issuance stamp tax generally is not due on share issues related to mergers, demergers, relocations to Switzerland or similar transactions.

Transfer stamp tax is levied on the transfer of ownership of certain securities which involve Swiss securities dealers. Swiss securities dealers include banks, fund managers and similar entities, but also ordinary companies that own taxable securities (eg, shares or bonds) with a book value of more than CHF10 million. The tax rate is 0.15 percent for Swiss securities and 0.30 percent for foreign securities. Various exemptions apply, and these exemptions must be checked on a case-by-case basis.

In most cantons, the transfer of real estate is subject to a conveyance tax whereas, on the federal level, no taxes of such kind are levied. As a general rule, conveyance tax is assessed on the purchase price or the taxable value of the real estate and is typically paid by the purchaser of the real estate.

Capital duty: A registration fee is charged on a company’s capital at a rate of TWD1 for every TWD4,000 capital.

Stamp duty: Stamp duty applies to various documents at different rates.

Securities transaction tax: 0.30 percent on gross proceeds from the sale of shares issued by Taiwan companies and 0.10 percent on gross proceeds from trading in corporate and financial bonds (though temporarily exempt) and other securities.

Luxury tax: The luxury tax is imposed on the sale of real property held for less than 2 years or import of passenger vehicles (exclusive of electric-powered vehicles), yachts, aircrafts, helicopters and light vehicles that cost more than TWD3 million.

No capital duty. Stamp duty may be fixed or proportionate to the relevant document's price, based on the relevant document's type. Proportional stamp duty is payable at rates ranging from 0 percent to 0.948 percent based on the relevant document's type.

Transfers of real estate are subject to a real estate transfer tax calculated at a rate of 4 percent of the transfer value. Such amount is split equally between the buyer and the seller.

State duty and pension duty are applicable to certain transactions such as the sale of real estate, vehicles and some other transactions.

A Real Estate Transfer Fee (RETF) is applicable to transfer of real property at rates which differ per Emirate. In Dubai, the total RETF is 4 percent and is equally shared between seller and buyer. The rates in most other Emirates are lower than in Dubai.

No capital duty. Stamp duty is payable at 0.50 percent on transfers of shares, but there is an exemption for most transactions within groups, and for transfers of shares in companies which are listed on the London Stock Exchange's Alternative Investment Market (AIM).

Transfers of real estate within the UK are subject to a transfer tax. However, the specific tax and the applicable rate depends upon which part of the country the real estate is situated in.

England and Northern Ireland (SDLT) – if the property is situated in England or Northern Ireland, rates of up to 5 percent apply on the transfer of non-residential property. Higher graduated rates apply to the transfer of residential property of up to 12 percent, where the value of the property exceeds GBP1,500,000 and a punitive 15 percent rate can apply to certain acquisitions of residential property by corporate entities. Higher rates of SDLT also apply to purchases of additional residential properties and purchases of residential properties by companies (3 percent above the normal graduated rates of SDLT). A further 2 percent surcharge applies on the purchase of residential properties by non-resident buyers.

Scotland (LBTT) – if the property is situated in Scotland, rates of up to 5 percent apply for non-residential property and higher graduated rates apply to the transfer of residential property of up to 12 percent, where the value of the property exceeds GBP750,000. A further 6 percent above the normal LBTT rate applies to purchases of additional residential properties in Scotland where the transaction completed on or after December 16, 2022 (where completion was before that date, the rate is 4 percent).

Wales (LTT) – if the property is situated in Wales, rates of up to 6 percent apply for non-residential property and higher graduated rates apply to the transfer of residential property of up to 12 percent, where the value of the property exceeds GBP1.5 million. A further 4 percent above the normal LTT rate applies to purchases of additional residential properties in Wales.

There is no capital duty. Stamp duties and transfer taxes may be imposed at the state or local level.

Capital Gains Tax is tax payable upon the sale or disposal of a capital/specified asset.

Land and building transactions are subject to stamp duty payable by the purchaser at the standard rate ranging between 1 percent and 4 percent.

An intermediated money transfer tax (IMTT) of 2 percent is levied on any electronic transaction done in Zimbabwe Dollars (ZWL). Any transaction exceeding equivalent in ZWL of USD500,000 has a maximum tax of USD10,150 (at the Interbank Rate) payable in ZWL. IMTT of 1 percent is levied on any electronic transaction done in USD. Any transaction exceeding USD500,000 has a maximum tax of USD10,150 payable in USD.