New CGT Regime to Boost Investor Confidence in Nigeria
The Presidential Committee on Fiscal Policy Tax Reforms, led by Taiwo Oyedele, has defended the new Capital Gains Tax (CGT) regime, emphasizing its role in reducing business risks, strengthening investor confidence, and creating a fairer tax system. The revised CGT system is designed to stimulate investment by allowing capital gains to be taxed on a net basis with reinvestment relief.
This approach aims to encourage continuous investment in the market while providing relief measures for small investors and businesses. The clarification comes in response to concerns raised by industry stakeholders, highlighting the strategic structure of the new regime to support economic growth and attract investments to Nigeria.
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