With Harris’ proposal to raise the capital gains tax rate (which would require congressional approval), investors might want to consider tax-lowering options.

A Treasury minister rebutted claims that capital gains tax could hit 39 per cent but did not rule out a rise in the Budget. James Murray stressed that a possible jump to 39 per cent was something that he “completely didn’t recognise”.

Capital gains tax is often called the forgotten levy - but it is unlikely that Chancellor Rachel Reeves will overlook it in her Autumn Budget.

As Kiplinger previously reported, the Washington capital gains tax imposes a 7% levy on profits exceeding $250,000 from the sale of assets, including stocks and bonds. In its first year, the tax generated approximately $786 million in revenue, with collections reaching over $400 million by mid-May 2024.

Rachel Reeves should increase capital gains tax (CGT) at Labour’s upcoming Budget, a group of millionaire business owners have urged, estimating the measure would raise £14bn a year.

Britain will increase the rate of capital gains tax payable on sales of shares and other assets in an Oct. 30 budget statement, the Times newspaper reported on Wednesday, saying the increase for share sales was likely to be several percentage points.

Deputy Finance Minister Maurizio Leo said Wednesday that Italy plans to hike capital gains tax on cryptocurrencies like bitcoin (BTC-USD) to 42% from 26%, according to several media reports. The price of bitcoin (BTC-USD) appeared unfazed by the news,