Home > Term: capital gains tax
capital gains tax
Tax payable on profit made on the sale (disposal) of a capital asset, assessed and levied differently from tax on profit (income tax) realized from sale of goods or services in the normal course of a business. Often, profits on capital assets held for 12 months or longer are taxed at a favorable (lower) rate.
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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Creator
- anton.chausovskyy
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