In case of disposal of ownership shares in a legal person, the excess value will be subject to a Capital gains tax of 10%.

The excess value is calculated based on the difference between the selling price or the fair value, whichever is higher, and the consideration for the seller’s share in the capital.

Under the tax regulations, capital gains tax returns should be submitted within 30 days from the sale of the asset or concluding the contract, whichever is earlier.

We will assist you in:

• The preparation and submission of the capital gain declaration to the General Tax Authority (GTA) in compliance with Income Tax Law No. 24 of 2018 and its executive regulations
• Reviewing the share transfer agreement and advice on the tax impact from the perspective of the seller.