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CAPITAL GAIN TAX (CGT)
Capital Gains is chargeable at 10% on capital gains arising from disposal of assets. Section 3 of CGT Act defines Capital Assets as meaning all forms of property including:
- Options, debts and incorporeal property
- Any currency other than Nigerian Currency
- Any form of property created by the person disposing of it, or otherwise coming to be owned without being acquired.
- Stocks and shares are exempted from Capital Gains Tax