The federal government may consider reduction in Company Income
Tax (CIT) and other taxes relating to the capital market from 25
per cent to 20 per cent. However, the reduction will be on a
case-by-case basis, based on the merit of the company seeking such
reduction.
![image](/2020/10/lawreport.jpg")
![image](/2021/06/Legal-Research-On-The-Go2.jpg")
Minister of Finance, Budget and National Planning, Mrs Zainab
Ahmed made the disclosure in Abuja when the management of Nigeria
Exchange (NGX) Limited visited her.
![image](/2021/05/NBASBL2021.jpg")
According to her, the requests for a reduction in Company Income
Tax came at the appropriate time when the Ministry was working on
the Finance Bill 2021.
She added that the federal government has ordered the Securities
and Exchange Commission (SEC) to design saving policy and
programmes that will encourage Nigerians to participate in the
capital market, as part of measures to further unlock the
potentials of the capital market.
While commending the NGX for demutualising the exchange and
deepening the capital market, Ahmed called on the management of NGX
to leverage on technology and innovations which could ease the
processes of trading on the exchange and ensure that ordinary
citizens could participate in the capital market.
Chief Executive Officer, Nigerian Exchange (NGX) Limited, Temi
Popoola assured the minister of the Exchange’s support for
government’s efforts to make Nigeria a destination for foreign
investment as well as attracting investors.
Popoola sought for a reduction in Company Income Tax (CIT) from
25 to 20 per cent, among others, arguing that these would
ultimately attract more taxes to government.
He assured the minister of the exchange’s commitment to support
the ministry’s fiscal policy and willingness to serve on the
committee of the Finance Bill 2021.
The federal government may consider reduction in Company Income
Tax (CIT) and other taxes relating to the capital market from 25
per cent to 20 per cent. However, the reduction will be on a
case-by-case basis, based on the merit of the company seeking such
reduction.
Minister of Finance, Budget and National Planning, Mrs Zainab
Ahmed made the disclosure in Abuja when the management of Nigeria
Exchange (NGX) Limited visited her.
According to her, the requests for a reduction in Company Income
Tax came at the appropriate time when the Ministry was working on
the Finance Bill 2021.
She added that the federal government has ordered the Securities
and Exchange Commission (SEC) to design saving policy and
programmes that will encourage Nigerians to participate in the
capital market, as part of measures to further unlock the
potentials of the capital market.
While commending the NGX for demutualising the exchange and
deepening the capital market, Ahmed called on the management of NGX
to leverage on technology and innovations which could ease the
processes of trading on the exchange and ensure that ordinary
citizens could participate in the capital market.
Chief Executive Officer, Nigerian Exchange (NGX) Limited, Temi
Popoola assured the minister of the Exchange’s support for
government’s efforts to make Nigeria a destination for foreign
investment as well as attracting investors.
Popoola sought for a reduction in Company Income Tax (CIT) from
25 to 20 per cent, among others, arguing that these would
ultimately attract more taxes to government.
He assured the minister of the exchange’s commitment to support
the ministry’s fiscal policy and willingness to serve on the
committee of the Finance Bill 2021.