Capital Gains Tax (CGT) is a tax on the profit obtained from disposal or exchange of certain kinds of assets. In Nigeria, CGT is charged at a flat rate of 10% of chargeable gains. It is governed by Capital Gains Tax Act, Cap C1 LFN 2004 (as amended). All chargeable assets are subject to Capital Gains Tax when disposed at a gain, except those specifically exempted by the Act.
Here are the tax incentives on CGT in Nigeria including the relevant incentives in the Finance Act, 2019:Read More