Capital Gains Tax in Eritrea

Eritrea imposes capital gains tax (CGT) on gains from the disposal of certain assets. The tax treatment differs between individuals and corporations, with specific rules for real estate and securities.

Scope of Capital Gains Tax

Capital gains in Eritrea are subject to specific CGT rates rather than being integrated into ordinary income. The capital gains tax framework covers real estate and securities.

Capital Gains for Individuals

Real Estate Gains

Gains from the sale of real estate are subject to a 15% capital gains tax for individuals. This is a final withholding tax.

Exemptions may apply for the sale of a primary residence under certain conditions.

Securities Gains

Gains from the sale of shares are subject to a 10% capital gains tax for individuals.

Capital Gains for Corporations

Corporate capital gains are treated as ordinary business income and taxed at the standard corporate income tax rate of 30%. This includes gains from the sale of fixed assets and investments.

Exemptions and Reliefs

Calculation of Gains

The capital gain is calculated as the difference between the sale price and the acquisition cost, adjusted for:

Filing and Payment

Individuals must declare capital gains in their annual tax return. Payment of tax due must be made by the filing deadline of April 30 of the following year. For real estate transactions, the tax is typically withheld at source.

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