a Ose the data to prepare a Standard Presentation of the Balance of Payments #0 Show how vou calculated an estimate of Net Errors and Omissions. ITEM TT Mn. 1 WITHHOLDING TAXES 20.0 2. REMITTANCES SENT TO RELATIVES ABROAD 110.0 3 IMPORTS OF MFG GOODS 11250.0 4 INTEREST PAID TO THE REST OF THE WORLD 400.0 MIGRANTS TRANSFERS 130.0 6. MANAGEMENT FEES PAID TO ROW 180.0 COMMUNICATION SERVICEES PROVIDED BY R.O.W INTEREST EARNED ON EXTERNAL SECURITIES 40.0 246.0 6. TRAVEL ABROAD 268.0 10 EXP. BY HOTEL AND GUEST HOUSE VISITORS 480.0 11 COMMUNICATION SERVICES PROVIDED TO CARICOM COUNTRIES 150.0 12 EXPORTS 15200.0 14 HERITAGE AND STABILISATION FUND 420.0 200.0 15 GOVT LOANS TO CARIBBEAN COUNTRIES 267.0 16 COMMERCIAL BANKS INTEREST QWNED 310.0 17 INTERNATIONAL INSTITUTIONS LOANS TO GOV'T OF T&T 12.0 18 CONTRIBUTIONS TO INTERNATIONAL INSTITUTIONS 132.0 19 CENTRAL GOVERNMENT FOREIGN EXPENDITURE 400.0 20 DIVIDENDS AND PROFITS PAID TO THE R.O.W 15.0 21 DIVIDENDS AND PROFITS RECEIVED FROM THE R.O.W 40.0 22 ADVERTISING SERVICES PROVIDED TO THE ROW 18.0 23 RECEIPTS FROM INTERNATIONAL INSTITUTIONS 410.0 NET RESERVES INCREASED 150.0 24 ADVERTISING SERVICES RECEIVED FROM THE ROW 118.0 25 1100. 1800. 26 PAYMENTS TO INTERNATIONAL INSTITUTIONS 27 PRIVATE SECTOR DIRECT INVESTMENT OUTFLOWS PRIVATE SECTOR DIRECT INVESTMENT INFLOWS 28

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.