We are given:
\[
P(A) = 0.4,\quad P(B) = 0.3,\quad P(A \cap B) = 0.2
\]
We want to find the probability that **neither A nor B** occurs, i.e.,
\[
P(\text{not } A \cup B) = 1 - P(A \cup B)
\]
From the formula:
\[
P(A \cup B) = P(A) + P(B) - P(A \cap B)
\]
Substitute the values:
\[
P(A \cup B) = 0.4 + 0.3 - 0.2 = 0.5
\]
Hence,
\[
P(\text{neither A nor B}) = 1 - 0.5 = \boxed{0.5}
\]