Individual - Income determination

Last reviewed - 22 December 2023

Employment income

Employee gross income consists of all direct and indirect income received through employment or related activities during a calendar year and includes both taxed and untaxed income at the source of payment.

Capital gains

Gross income from the sale of immovable property is taxed at a rate of 2%. Income from the sale of movable property, including securities, is taxed on a net basis at a rate of 10%.

Dividend and interest income

Dividend and interest income earned by individuals is subject to withholding tax (WHT) at the rate of 10%.

A special 5% rate applies on dividend and interest income of an investor who purchased debt instruments or shares of a local entity (not holding mineral resources, oil exploration, and mining special licences) traded in local and international stock markets.