Foreign Investor - specific:
The foreign investors are freely allowed to operate in the capital market without any retention period.
There are no restrictions on the extent of foreign ownership stake and also no limit for holding the shares for trading purposes.
Funds invested in the capital market are freely transferable along with dividend income.
Foreign investors are treated at par with local investors in tax treatment.
Local Investor specific:
Capital gains on sale of listed securities are exempt from income tax up to the year 2010. This exemption is available since 1974.
The dividend is subject to withholding tax at 10%.
Dividend income is taxed as a separate block of income in the hands of individual shareholders.
Any income derived from TFC's is subject to income tax with effect from income year 2001 – 2002.
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