Which of the following disposals is exempt from capital gains tax?
ADisposal of a commercial building
BDisposal of a private motor vehicleCORRECT
CDisposal of land held for investment
DDisposal of plant and machinery
ICANTaxationCapital Gains Tax2021
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Why the answer is B, and why the others tempt you.
Gains on the disposal of a private motor vehicle are specifically exempt, as are gains on Nigerian government securities and disposals of a taxpayer's principal private residence within the statutory conditions.
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