In Mali, capital gains are subject to taxation under the country's tax laws. The tax treatment of capital gains is outlined in the General Tax Code of Mali, specifically in Article 14.
Definition of Capital Gains
Capital gains in Mali are defined as profits realized from the sale or disposal of capital assets. Capital assets include:
- Real estate properties
- Stocks and securities
- Bonds and debentures
- Business assets
Calculation of Taxable Capital Gains
Taxable capital gains are calculated as the difference between the selling price of the asset and its acquisition cost. The formula for calculating capital gains is as follows:
Capital Gain = Selling Price - Acquisition Cost - Expenses
Adjustments or deductions may be allowed in the calculation of the gain, including expenses related to the sale (e.g., brokerage fees, legal fees) and any improvements made to the asset during ownership.
Tax Rates
Capital gains in Mali are taxed at a flat rate of 15%. This rate applies to both individuals and corporations.
Legal Framework
The taxation of capital gains in Mali is governed by the following legal provisions:
- General Tax Code of Mali, Article 14: Outlines the definition of capital gains and the applicable tax rate.
Policy Objectives
The taxation of capital gains in Mali aims to:
- Generate revenue for the government
- Ensure that individuals and businesses contribute their fair share of tax on profits realized from investments and asset disposals
- Promote investment and economic growth
If you need any other informational tax guides for other countries, feel free to browse our other articles below:
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