Nigerian Government Begins Collection Of Income Tax On Bonds

The federal government will commence the collection of income tax on bonds, short-term securities. <br />The federal government had in 2012 granted tax waivers on all bonds and debt instruments issued by all tiers of government and corporate entities. <br />The Securities and Exchange Commission had earlier introduced a 0.025 per cent charge on fixed income secondary market transactions, which was expected to become effective today. <br />President, Chartered Institute of Stockbrokers, Mr Olatunde Amolegbe says the introduction of the policy by the apex capital regulator would bring significant regulation to the market.