Capital gains tax collected from real estate transactions increased by Rs 830 million in the first six months of the current fiscal year, reaching Rs 8.28 billion. According to the Department of Land Management and Archive, although the number of registered land transactions dropped by 7,000 to 702,000, total revenue rose to Rs 21.95 billion. The government levies a 5 percent tax on properties sold within five years of purchase and 2.5 percent on those held longer. Monthly capital gains tax collection averaged Rs 1.38 billion during the period.
