Capital Gains Tax (CGT) is a tax levied on the profit from the sale of assets or investments. The tax applies to the difference between the sale price and the original purchase price or basis of the asset.
A nominal account is a type of ledger account that records expenses, losses, incomes, or gains, rather than transactions involving tangible or intangible assets.
An agreement between two countries that specifies how income, profits, or gains are taxed to prevent double taxation and provide tax relief.
