Investor Presentaiton

PITA: Tax Implication Under PITA & CGTA FEDERAL INLAND FIRS EVENUE In line with Paragraph 31A of Third Schedule, the income earned is exempt from tax under PITA, including WHT The exemption covers interest on: (a) Bonds issued by Federal, State and Local Governments and their agencies; (b) Bonds issued by corporate including supra-nationals; However, interest earned on short-term securities is not exempt under PITA. It is thus taxable CGTA: Gains from disposal is chargeable to CGT, except Federal Government Bonds Section 30 provides that: "Gains accruing to a person from a disposal by it of Nigerian government securities shall not be chargeable gains under this Act."

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