Last edited by Dilkis
Monday, August 10, 2020 | History

4 edition of Taxation of financial assets and capital market development in Nigeria found in the catalog.

Taxation of financial assets and capital market development in Nigeria

by Eno L. Inanga

  • 340 Want to read
  • 3 Currently reading

Published by African Economic Research Consortium in Nairobi .
Written in English

    Places:
  • Nigeria.
    • Subjects:
    • Taxation -- Nigeria.,
    • Income tax -- Nigeria.,
    • Investments -- Taxation -- Nigeria.,
    • Revenue -- Nigeria.

    • Edition Notes

      StatementEno L. Inanga and Chidozie Emenuga.
      SeriesAERC research paper ;, 47
      ContributionsEmenuga, Chidozie.
      Classifications
      LC ClassificationsHJ3081 .I53 1996
      The Physical Object
      Pagination44 p. :
      Number of Pages44
      ID Numbers
      Open LibraryOL654099M
      ISBN 109966900721
      LC Control Number96981068

      Capital gains tax administration in Nigeria is regulated by the capital Gains Tax Act Cap C!, LFN Sales proceeds less historical cost of the asset equals capital gains. The gain is reflected in the financial statement but adjusted during income tax computation. The gain is therefore not liable to companies income tax. Applicable Taxes for Investors and Issuers in Capital Market Transactions Frequently Asked Questions I. Are dividends taxable in Nigeria? There is a withholding tax (WHT) of 10% which is applicable to dividend payments in Nigeria. The tax .

        The Nigeria Sovereign Investment Authority recorded a five per cent growth in Total Assets from Nbn in to Nbn as of the end of It also recorded a Profit After Tax . The capital market is a highly specialized and organized financial market and indeed essential agent of economic growth because of its ability to facilitate and mobilize saving and investment. To a great extent, the positive relationship between capital .

        The main objective of this paper is to assess and evaluate the administration of capital gain tax in Nigeria Tax system. Other specific objectives include: Ascertain the relationship of Capital Gain Tax and economic development of Nigeria . () and Dabwor () on the stock market development and economic growth in Nigeria, the causal linkage. The result reveals that there is a bi-directional causality between growth in capital market activities and economic growth in Nigeria. However, this contrasts with Robinson (), who argued that financial markets.


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Taxation of financial assets and capital market development in Nigeria by Eno L. Inanga Download PDF EPUB FB2

Taxation of Financial Assets and Capital Market Development in Nigeria. Eno L. Inanga. 01 Mar examine the contribution of revenues from taxation of financial assets to total government revenue; examine the trend of pre-tax and after-tax rates of return on all financial assets as a means of defining the impact of taxation on each asset Cited by: 6.

Taxation of financial assets and capital market development in Nigeria. Nairobi: African Economic Research Consortium, © (OCoLC) Document Type: Book: All Authors / Contributors:. march research paper forty-seven taxation of financial assets and capital market development in nigeria eno l.

inanga and chidozie emenuga af arch iv research consortium a recherche. This study is designed to assess the impact of taxation on the development of the Nigerian capital market from the standpoint of the investors.

Taxation of Financial Assets and Capital Market Development in Nigeria E.L. & Emenuga, C., "Taxation of Financial Assets and Capital Market Development in Nigeria. After-ta nominal rates of returxn on financia assetl s when capital gains tax is not paid (percentages ) 32 5 Effectiv tax rates on financiael assets and properties (percentages), 36 Inflatio rates in Nigeria (percentages)n32 6 Pre-ta real rates of returxn on financial assets.

Effective operation of the capital market depends on a proper environment provided for by good and sound macroeconomic policies of which fiscal policy is paramount. Poor design of the tax system and over-taxation of financial assets may constrain the process of capital market development and effective functioning of the financial.

governing capital markets in Nigeria, identifying any gaps that may restrict the deepening of these 3markets, providing recommendations and suggested actions to address these areas focusing on issues of financial openness, market development. Financial Market Highlights.

Equities Market Review and Outlook: COVID Throttles Positive Return. The equities market kicked off the year amid stronger optimism propelled in part by the unattractive.

The WHT rate on road, bridge, building and power plant contracts has been reduced from 5% to %. This is a positive development to ease the cash flow problem faced by contractors whose effective tax rate on turnover is less than 5%. Capital Gains Tax changes. The Finance Act exempts the following transactions from Capital Gains Tax.

What are Financial Assets/Instruments 55 Financial System Assets/Instruments 57 Characteristics of Financial Assets 59 Types of Financial Assets/Instruments 67 Denomination of Financial Assets 69 Liquidity of Financial Instrument 71 The Financial Market 73 Structure of Financial Market.

The objective of this study is to investigate the impact of taxation on economic development of Nigeria proxy by the gross domestic product (GDP).The study further looked at the relation between. Capital gains tax. Chargeable assets. Assets situated outside Nigeria. Exclusion of losses.

the year or a later year of assessment from a disposal of assets situated outside Nigeria- (a) where the disposal of assets is by an individual- for a consideration equal to the market value of the asset.

In Nigeria, and in many other tax jurisdictions, revenue incomes are subject to corporate income tax (CIT). The CIT Act, (amended in ), governs the imposition of CIT in Nigeria.

Sections 9(a) and (d) of the CIT Act stipulate that tax. This study examined the impact of E-Taxation on Nigeria’s revenue and economic growth. Given that the purpose of introducing electronic tax system is to improve revenue collection which will in turn improve the country’s economic growth, the study empirically examined how the implementation of E-taxation in has affected Tax Revenue, Federally Collected Revenue and Tax.

Capital market as a veritable source of development in Nigeria economy Josiah Mary 1*, Samson. This study takes a look at the impact of the capital market in the development of the Nigerian economy. liquidity and stability of financial system.

Thriving capital markets are often vibrant in private sector development. The Capital Gains Tax Act (CGTA) imposes tax at 10% on any capital sum received as compensation for loss of office. The Finance Act, however, limits the impact of this provision by exempting any capital sum of N10 million or less received as compensation for loss of office.

Tax concessions on assets. Equity markets tend to decline in periods of recession and Nigeria is no exception. Equity capital markets unlike bond markets, tend to bear the initial brunt of a recession, as seen in the absence of IPOs and FOs in However, we expect to see activity pick up in the equity capital markets.

development for purposes of influencing the structure and character of private investment. As the Nigeria market become more responsive, potential competitors are at an advantage For example, if within the textile industry, a firm that import yarn for weaving is denied a tax.

Africa Financial Markets Index shows that, across the continent, countries are making remarkable steps to develop and enhance their capital markets. By tracking progress on financial market.

A survey conducted in Nigeria in by a development finance organization, the Enhancing Financial Innovation and Access revealed that about % of adults were excluded from financial services.

The global pursuit of financial inclusion as a vehicle for economic development had a positive effect in Nigeria. Capital Gains Tax (CGT) is a tax on the profit obtained from disposal or exchange of certain kinds of assets.

In Nigeria, Capital Gains tax is 10% of the profits from the sale of the qualifying assets. It is recognized in law under the Capital Gains Tax .capital gains tax, stamp duties, urban land rentals, business premises and registration, development levy and road and gaming taxes).

Specifically, local governments’ collect taxes on personal, social and commercial permit fees. The tax system in Nigeria is made up of tax policy and tax laws, stratified into tax. There are no transfer or capital gains taxes in Nigeria on the sale of shares.

the business assets while capital gains tax on any gains is payable by the seller. current fair market .