Beverly Hills 12/18/2009 6:35:49 AM
News / Business

Peru Congress Gives Bill to Levy Capital Gains Tax the Go Ahead

Finance World News Update by EQUITIES Magazine

Despite protests from Lima’s stock exchange, Peru’s Congress approved a bill to charge capital gains taxes on stock and bond investments today.

The bill would levy a five percent tax on profits of individuals who report earnings of 17.650 soles ($6.128) or higher, while institutional investors could be taxed up to 30 percent.

The tax, which would not apply to most pension fund holdings, would not include government bonds.

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