forex trading tax free in Nigeria? If so can someone give me a link where it was clearly stated?
I am talking about online forex trading

Thanks

Anyone?

As far as i can remember, it is not clearly stated as Nigeria law anywhere

mkmyers45: As far as i can remember, it is not clearly stated as Nigeria law anywhere

Or is there any law stating online biz like online marketing, profits from blogging , etc are tax free?

franknero488:

Or is there any law stating online biz like online marketing, profits from blogging , etc are tax free?

There is no act on that i believe...

Anyone

Doesn't this apply to online forex trading in Nigeria, that forex is tax free in NIgeria?

Interest accrued on deposit accounts of a non-resident company are exempt from tax on the condition that they are repatriated to Nigeria by an agreed intermediary. The same is the case with deposit accounts of open foreign exchange in Nigeria

I see no reason why it should be tax free. You earn income from it by trading, right? So when you bring in the income into Nigeria, you should be better off paying your tax. It could be categorized as foreign income.

franknero488: forex trading tax free in Nigeria? If so can someone give me a link where it was clearly stated?
I am talking about online forex trading

Thanks

No tax. There could be but ℓ̊ know № trader that pays. Despite the volume of traders in Nigeria, FX Iƨ̣̣̣̇̇̇ still very informal with traders doing their stuff in their bedrooms. Its very hard τ̅☺ enforce tax ☺ƞ an FX trader.

3.   Chargeable assets
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—
(a) options, debts and incorporeal property generally;
(b) any currency other than Nigerian currency; and

Excerpts from the capital gains tax act of Nigeria

It is not tax free, but 10% of profits