Digital Policy Alert logo

Nigeria: Finance Act (2023) including amendments to Capital Gains Tax Act entered into force

Policy overview

Description

Finance Act (2023) including amendments to Capital Gains Tax Act entered into force

On 1 September 2023, the Finance Act (2023) entered into force. Under this Act, the amendment to the Capital Gains Tax Act (CGTA) expands the definition to include "digital assets" alongside "debt." The computation of chargeable gains is updated to …

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

Hide details
2023-05-24
adopted

On 24 May 2023, the House of Representatives adopted the Finance Bill (2023). Under this Act, the a…

2023-05-28
adopted

On 28 May 2023, the President signed the Finance Bill (2023) into law. Under this Act, the amendmen…

2023-09-01
in force

On 1 September 2023, the Finance Act (2023) entered into force. Under this Act, the amendment to th…