The National Economic Council has approved necessary amendments to the proposed 2022 Finance Bill.
According to the Minister, the proposed Finance Bill 2022 is anchored on five fundamental policy drivers namely Tax Equity; Climate Change; Job Creation / Economic Growth; Tax Incentives’ Reform and Revenue Generation / Tax Administration The Minister stressed that under 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.
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.”