Africa Business Radio

The federal government will commence the collection of income tax on bonds, short-term securities. The federal government had in 2012 granted tax waivers on all bonds and debt instruments issued by all tiers of government and corporate entities. 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. 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.