Nigeria Finance Act: Investors To Pay 10% Tax On Sale Of Shares In Any Nigerian Company

0 23

 Investors on the Nigerian Stock Exchange are to pay a Capital Gains Tax of 10% on the sale of shares. This is  according to provisions of the signed Finance Act 2021. The tax is applicable on the disposal of shares worth N100 million and above.

The tax also extends to anyone selling shares of any company even if the shares are not listed on the stock exchange which inadvertently includes the sale of shares by private equity firms, startups, venture capitalists, or any shareholder looking to sell shares in Nigeria.

The law however exempts anyone who sells shares and reinvests the proceeds in purchasing another company’s shares or the shares of the same company within the same year. However, this is provided that you invest all the proceeds within a year. Any part of the proceeds not reinvested will be taxed while the balance reinvested will not be taxed.

Related Posts

Nigeria To Partner Egypt On Technical Support For Power…

Dangote Oil Refinery To Reduce Importation Of Petroleum…

– Nairametrics

Leave A Reply

Your email address will not be published.

%d bloggers like this: