Wike Reintroduces Capital Gains Tax In Abuja; Property Owners To Now Pay 10% Of Every Assets Sold
Wike Reintroduces Capital Gains Tax In Abuja; Residents To Now Pay 10% Of Every Assets Sold. The Nyesom Wike-led Federal Capital Territory Administration (FCTA) has constituted and inaugurated a Capital Gain Tax Implementation Committee for the FCT to boost Internally Generated Revenue (IGR). The Mandate Secretary, Economic Planning, Revenue Generation and Public-Private Partnership, Barr. Chinedum Kelechi, who inaugurated the committee on Tuesday, announced that the implementation was in line with the Capital Gains Tax (CGT) Act, Cap.CI LFN 2004 (as ). According to him, the Act imposes a CGT tax rate of 10% on the total amount of chargeable gains…
