Capital gains tax (CGT) decides how much of an investment profit you keep. It is one of the most country-specific taxes in the world — some charge nothing, others over a third.
Not tax advice. CGT rules depend on asset type, holding period and residency. Verify with the official authority and a professional before investing or selling.
Countries with no general capital gains tax
Several places do not tax an individual’s gains on shares (and sometimes property):
- Switzerland — private movable assets exempt (real estate taxed cantonally)
- Singapore and Hong Kong — no CGT
- New Zealand — no comprehensive CGT
- United Arab Emirates, Monaco, Cayman Islands — no personal CGT
High capital gains tax countries
| Country | Individual CGT (headline) |
|---|---|
| Norway | ~37.84% |
| Denmark | Up to ~42% (taxed as income) |
| Ireland | 33% |
| Finland | 30%–34% |
| France | 30% (plus 4% surtax on high incomes) |
| Sweden | 30% |
| Spain | Up to 30% (residents) |
| United States | Up to 20% (plus 3.8% NIIT and state tax) |
Three common models
- Flat CGT rate — e.g. Ireland 33%, Italy 26%, the UK 18%/24%. A single rate (sometimes tiered) regardless of income.
- Taxed as ordinary income — Denmark, Estonia, Mexico and others fold gains into the income tax schedule.
- Holding-period dependent — the US (short vs long-term), Germany, and Colombia (lower rate after a 2-year hold) reward longer holding.
Watch the details
Headline CGT rates hide important nuances: main-residence exemptions, annual allowances (the UK’s, for example), inflation indexation, and special rates for substantial shareholdings. Read each country page for the specific treatment, and compare two countries directly with the calculator or comparison pages.
Sources
Rates from PwC Worldwide Tax Summaries, cross-checked with the OECD and Tax Foundation. Statutory headline figures as of June 2026. See our methodology.