The taxable income of a person comprises the gross income from different sources such as business, property and investments less allowable deductions. The taxable income of an individual includes salaries and benefits derived from employment.
No tax is levied on capital gains. However, profits made from sale of capital goods such as immovable properties on a regular basis may be held to be ordinary business income and hence taxable. Profits from the sale of securities and units are specifically exempt from tax.