Yes, the gains earned are taxed, by withholding tax, as follows:

• by applying a rate of 1% to each gain on the transfer of securities which have been acquired and disposed of within a period of more than 365 days, inclusive, from the date of acquisition;
• by applying a rate of 3% to each gain on the transfer of securities which have been acquired and disposed of within a period of less than 365 days from the date of acquisition;