Note. Investment allowances are given in addition to capital allowances and rates can be increased up to three times of those given above by the Council of Ministers. In order to qualify for investment allowance the fixed assets must be used for the first time except in the case of them being imported.

Profit made by those engaged in the sale of immovable property is arrived at by applying the rate of 25% to the higher of sale price or market value. But in the case of actual net profit being more than this amount, profit as per the accounts forms the taxable amount. 25%of the higher of sale price or market value is the amount on which withholding tax is calculated. This tax is deducted from the final tax liability for the year. Real persons with sales of over three properties per year and companies are regarded as engaged in the sale of immoveable property.

Profit made by those not engaged in the sale of immovable property is arrived as above. 30% of this profit it exempt from taxation and 20% taxation is payable on the amount of profit after this exemption on any completion of transaction .This tax forms the final liability.