Is Your Investment Income Exempt From This Tax?

The tax on real estate development is called the ubit tax. It's based on how long you hold a property and what kind of improvements are made to it over that time period. You can pay up to 21% in ebit, but not more than 20%. The Ubit Tax was introduced by then-President Barack Obama after he took office last year. Mr Obama has since been criticized for his handling of the issue.