HC Deb 29 November 1988 vol 142 c187W
Mr. Tim Smith

To ask the Chancellor of the Exchequer if he will publish a table showing the information he has about capital gains tax rates in France, West Germany, Japan and the United States of America and giving the comparable rates in the United Kingdom.

Mr. Norman Lamont

The latest information available is contained in the table.

Nominal rate(s) of tax on gains of individuals
Country Per cent.
France3 16
West Germany1 2 22–56
Japan1 4 10.5–60
United States of America1 15 and 28
United Kingdom1 25 and 40

Notes

1 Rate(s) determined by adding gains to income.

2 Tax charge generally confined to short-term gains and substantial shareholding in companies. Proposals are under more comprehensive taxation of gains.

3 Gains on portfolio investments generally exempt if less than in specified annual limit: special provisions for long-term gains.

4 Gains on portfolio investments at present generally exempt, but there are proposals for taxing such gains. Special provisions for long-term gains.

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