Notice: session_start(): Ignoring session_start() because a session is already active in /home/cordly/public_html/header-menu.php on line 845




Latest Forum Posts


Fildena 200 Sildenafil Tablet to Solve Your ED Problem | Genericvilla - March 27, 2024
Fildena 120 Mg Buy Online at Trusted Pharmacy - March 27, 2024
Vidalista black 80 - Feel your partner Special - March 23, 2024
Altraz: Improvements in Breast Cancer Care - March 22, 2024
Zopisign 7.5mg Mode Of Action | Genericmedsstore - March 22, 2024
Aspadol 150 Online Best Pills For Muscular Pain | Genericmedsstore - March 22, 2024
Renew Your Passion: Cenforce 100 Blue Pill Tablets for Men - March 21, 2024
Get Vidalista 60 tablets to treat erectile dysfunction At Sildenafilcitrates, - March 21, 2024
What are the specific differences in how Cialis and Sildalist Strong 140 Mg operate at a molecular level to improve erec - March 20, 2024
What Is Zopicon 7.5mg MG? - March 20, 2024
Pain O Soma 500 Mg - Best pain relief treatment - March 20, 2024
Are Tadagra Prof 20 Mg products suitable for individuals with eczema? - March 20, 2024
Can taking two 50mg Malegra 50 Mg pills interact with medications used to treat circulatory system disorders or cardiova - March 20, 2024
The Power of Fildena Extra 150 in Erectile Dysfunction - March 18, 2024
Artvigil 150 mg- Buy Armodafinil Online - Pills4usa - March 16, 2024
Floating ball valve supplier in UAE - March 15, 2024
Why are my eyelashes getting thinner? - March 15, 2024
Super Kamagra Jelly- Most Trusted ED Medicine - March 14, 2024
Fildena 150 - ED medicine | Improve your love confidence - March 10, 2024
Can hydration levels influence the duration of Avana 200 Mg effects? - March 09, 2024




Discover Your Personality Type in Less Than 15 Minutes
FG to tax cryptocurrencies in Finance Bill 2022 By Obayomi Abiola Benjamin On Friday 2nd December 2022Politics & Governance 406

Free Online Video Downloader - Cordly



The Finance Bill 2022 will bring all sectors of the economy into the tax net, including Capital Gains Tax from digital assets, Cable Undertakings, Lottery and Gaming Businesses.

The bill also contains an amendment under Chargeable Assets stating that “subject to any exceptions provided by this Act, all forms of property shall be assets for the purposes of this Act, whether situated in Nigeria or not, including Options, debts, digital assets and incorporeal property generally.”

According to a statement signed late Thursday by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, these formed part of the deliberations at an extraordinary virtual meeting of the National Economic Council presided over by Vice President Yemi Osinbajo.

The statement is titled ‘At NEC meeting, FG, governors in consultation on proposed 2022 Finance Bill.’

It read in part, “The meeting which was presided over by Vice President Yemi Osinbajo, SAN, members of the Council were briefed on the main features of the bill by the Minister of Finance, Budget and National Planning, Zainab Ahmed.

“According to the Minister, the proposed Finance Bill 2022 is anchored on five fundamental policy drivers: Tax Equity; Climate Change; Job Creation / Economic Growth; Tax Incentives’ Reform; Revenue Generation / Tax Administration.

“She added that the bill seeks to amend relevant taxes, excises and duty statutes in line with the macroeconomic policy reforms of the Federal Government and to amend and make further provisions in specific laws in connection with the public financial management of the Federation.”

Other aspects of the Finance Bill include Chargeable Assets, Exclusion of Losses and Replacement of Business Assets.

For instance, under the Tax Equity pillar, all sectors of the economy would be brought into the tax net, including Capital Gains Tax from digital assets, Cable Undertakings, Lottery and Gaming Business.

Similarly, under the Climate Change and Green Growth pillar of the bill, there would be incentives for the natural gas sector and discouragement of gas flaring.

Under the pillar of Tax Incentives’ Reforms, there would be new deductions for Research and Development, and Investment Tax Credits; Reconstruction Investment Allowance; Rural Investment Allowance; Incomes in Convertible Currencies to be exempt, among others.

Also, the bill contains an amendment under Chargeable Assets stating that “subject to any exceptions provided by this Act, all forms of property shall be assets for the purposes of this Act, whether situated in Nigeria or not, including Options, debts, digital assets and incorporeal property generally.”

According to the bill, these provisions clarify the basis for the taxation of Cryptocurrency and other Digital Assets in line with the Government’s policy thrust of enhancing the cross-border and international taxation of growing e-commerce with emerging markets.

By doing so, Nigeria will join the league of jurisdictions currently taxing digital assets, including the United Kingdom, the United States of America, Australia, India, Kenya and South Africa.

Ahmed further noted that extensive consultations had been done on aspects of the bill, such as tax avoidance and tax evasion by introducing a general anti-avoidance route.

 

 

 

 

[Punch]

Please login to participate in this forum!
My Accounts Categories Useful Links Affiliate Links Follow Us
Cordly is an online social marketplace that enables the connection of producers and consumers of products, services and talents across the Nigeria and abroad!.







Lost Password
Sign In
Sign Up








News and Society (169)
Self Improvement (167)
Business and Economy (107)
Leadership (136)
Politics (81)
Arts & Entertainment (68)
Health & Fitness (143)
Religion and Kingdom (68)
Real Estate (16)
Computers & Technology (23)
About Us
Contact Us
Get YouTube Thumbail
Sitemap







laPrice
Hubpile
Pay4ebooks
kpiBooks
Fridayposts
Flickers of Hope Foundation




CordlyNG on Facebook  Facebook

CordlyNG on Twitter  Twitter

CordlyNG Blog  Blog

Send Email to CordlyNG  Email