KPMG Warns Errors in Nigeria's New Tax Laws Could Impact Investment and Revenue Goals

KPMG Nigeria has highlighted discrepancies in Nigeria's recently implemented tax laws, emphasizing the risks of errors and omissions affecting the country's investment attractiveness and revenue generation objectives. The firm particularly pointed out issues with the capital gains tax calculation and indirect transfer tax rules, urging for adjustments to align with global best practices.

Concerns over market uncertainty and investor sensitivity due to tax ambiguities were also noted, impacting the stock market performance. KPMG recommended introducing measures like a cost index to mitigate distortions and ensure accurate taxation of capital gains.