Wealth tax on net wealth is charged on the valuation date, with credit allowed for pre-paid taxes.

Wealth tax is imposed on every person, other than a non-profit organisation, on net wealth determined on the valuation date of a financial year at the rate specified in Paragraph E of the Second Schedule; liability is discharged by payment of pre-paid taxes and the tax is collected after allowing credit for any such pre-paid taxes in accordance with the Code.

---

---

---