Capital Gains Tax in San Marino

San Marino does not impose a separate capital gains tax. Most capital gains are not subject to tax, though certain gains may be taxed as ordinary income under the personal income tax or corporate income tax system.

No Separate Capital Gains Tax

San Marino has no separate capital gains tax regime. The country does not levy a specific tax on capital gains from the sale of assets, securities, or investments.

Capital Gains for Individuals

Real Estate Gains

Gains from the sale of real estate may be subject to tax under certain circumstances. If the property is sold within 5 years of acquisition, the gain may be taxed as ordinary income at progressive PIT rates (0-35%). Sales after 5 years are generally exempt.

The primary residence is generally exempt from capital gains taxation.

Securities Gains

Gains from the sale of securities are generally not subject to tax for individual investors who hold investments as a personal asset. Professional traders and those trading as a business activity may be taxed on gains as ordinary income.

Capital Gains for Corporations

Corporate capital gains are treated as ordinary business income and taxed at the standard corporate income tax rate of 17%. This includes gains from the sale of fixed assets, investments, and intellectual property.

Exemptions and Reliefs

Calculation of Gains

When a gain is taxable, it is calculated as the difference between the sale price and the acquisition cost, adjusted for:

Filing and Payment

When applicable, individuals must declare taxable capital gains in their annual tax return. Payment of tax due must be made by the filing deadline. Corporations report capital gains as part of their annual corporate tax return.

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