Private Equity firms get CGT relief on Startups as other exits remain taxable
This was disclosed by Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who noted that “If PE firms invest in a sector that does not have that exemption, and you want to exit. If you’re exiting, you’re allowed to pay on a net basis.”
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Private Equity (PE) firms that invest in certain sectors covered under the Startup Act are fully exempted permanently and forever, regardless of the size of the profit, and duration of the investment; however, those not exempted will pay Capital Gain Tax (CGT).
This was disclosed by Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who noted that “If PE firms invest in a sector that does not have that exemption, and you want to exit. If you’re exiting, you’re allowed to pay on a net basis.”
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