The basic corporate tax rate is 35% for all companies, except for income from nontraditional exports (8%) and hotels (25%). The capital-gains tax rate is about 5% and the tax rate on dividends is 10%. A personal income tax ranging from 5%, to 35% for foreign nationals and rich citizens is also levied. As of 30 December 1998, Ghana's sales tax of 15% was replaced by value-added tax (VAT) with a standard rate of 10%. As of 6 January 2000, the standard VAT rate was increased to 12.5%. Exempt from the VAT are vaccines, other specified drugs and salt. A salary tax of 5% on employees and 12.5% on employers finances the Social Security and National Insurance Trust pension program. There are also property (.05%) and excise taxes, and a 0-15% gift tax.