Banks in free trade zones to get tax, duty waivers

The CBN has said it would henceforth grant tax and duty waivers to banks operating in the Free Trade Zones (FTZs).

The incentives, contained in the guidelines for banking operations in FTZ include freedom to move funds in and out of the zone on all eligible transactions, exemption from stamp duties on all its documents, exemption from withholding tax deductions on interest payable on deposits