Hazel Blears Blears had been claiming MPs' second home expenses relating to the flat. She had made a £45,000 profit on its sale without paying capital gains tax. On 12 May she volunteered to pay the £13,332 capital gains tax she had avoided on the sale of her second home. It was subsequently claimed that Gordon Brown had ordered her to repay the sum. In Salford she was met by a number of angry protesters and stayed in a local hotel rather than at home. Following an investigation by Sir Thomas Legg, Blears was told to repay £225 in expenses in relation
Capital gains tax deductible. To apply exemption, there are no restrictions on minimal holding period or shareholding. The exemption, however, does not apply on gain from sale of shares in entities located in the black-listed tax haven countries. The latter gains are subject to regular corporate income tax rate at 15%. Similarly, gains on disposal of securities quoted on the regulated markets of the EU or EEA countries and investment certificates in EU and EEA open-end investment funds are exempt from taxation in Latvia. Gains on the disposal of other investments (like real estate properties) are taxed at regular corporate income tax rate