Tax Term
What is Capital Gain?
Profit made from selling an asset for more than its purchase price.
Detailed Explanation
In Nigeria, capital gains from share sales may be exempt if the sale value is ₦150m or less AND the gain is ₦10m or less. Otherwise, gains are taxable.
Example
Buying shares for ₦50m and selling for ₦60m = ₦10m capital gain.