1st January 2015. Kenya re-introduced Capital Gains Tax which had been suspended in 1985 so as to encourage growth in the real estate and capital markets sectors. However, after budgetary constraints due to among others ambitious development projects and a growing wage bill, there was need for...

This article examines two broad areas of capital gains tax (CGT) design in respect of the taxation of non-residents. The first area relates to the domestic design of the tax and focuses on whether a CGT should apply to all assets held by non-residents or to some limited subset of those assets...

Globally, tax systems are continuously discussed. That is more than a good thing! Taxes are in the midst of society and should, therefore, also be discussed in and by societies. Tax research can contribute to these discussions.In a number of countries, such as New Zealand, the Netherlands and...

The Protecting Americans from Tax Hikes (PATH) Act of 2015 was recently signed into law by the US President Obama, and one provision (section 126) in particular benefits venture capital, private equity, and other investors owning or planning to purchase a US corporation

Taking Singapore as an example, this article lays out a series of tests for determining whether gains arising from the disposal of cryptocurrencies are trade or business income, “all other income” or capital gains. It also considers the possibility of a presumption that individuals engaging...

This report explores the history of the taxation of derivative gains and losses - primarily section 1234A - as well as the capital gains preference, the straddle rules, the sale or exchange requirement, the extinguishment doctrine, the assignment of income and substitute for ordinary income...

Virgin Holding SA v. Commissioner of Taxation was a decision in the Federal Court of Australia in late 2008. It concerned a very important issue in the interpretation of the Australia-Swiss double taxation conventions. This was whether the term "income tax" included tax on capital gains. The...

The international debate on tax avoidance lately is focused on digital business models. In the G20/OECD Inclusive Framework on BEPS 137 countries are currently developing the so-called Unified Approach to address the tax challenges arising from the digitalization of the economy. The aim of this...

The favorable taxation of capital gains has seen extensive ex post celebration and condemnation, but the ex-ante reason for the taxation’s enactment has largely been forgotten. This Article, written one hundred years after the capital gains tax preference was first enacted in 1921, responds to...

In short sales, capital gains are realized upon the replacement of the borrowed stock, and not upon its disposition by the short seller. Therefore, a taxpayer can simultaneously own a share of stock and short sell an identical stock to effectually dispose a share of stock without triggering a...