Taxation of Financial Assets and Capital Market Development in Nigeria

"The specific objectives of the study are to: identify the existing taxes on financial assets and compare them with taxes on non-financial assets; review the Nigerian tax system and administration with particular interest in taxes on financial assets; examine the contribution of revenues from taxation of financial assets to total government revenue; examine the trend of pre-tax and after-tax rates of return on all financial assets as a means of defining the impact of taxation on each asset's rate of return; analyse and compare the real after-tax rates of return on equities with the real after-tax rates of return on other financial and non-financial assets; and identify the structure of taxes on equities that will ensure healthy and accelerated development of the Nigerian capital market."