NLC says no to 6% tax on tenancy and lease agreements

The leadership of the Nigeria Labour Congress (NLC) has described the decision of the Federal Government to impose a six per cent stamp duty on every tenancy and lease agreement in the country, as a harsh fiscal policy that is insensitive to the plights of citizens.

NLC says no to 6% tax on tenancy and lease agreements

In a statement issued on Saturday, the NLC President, Mr Ayuba Waba, rejected the new stamp duty policy of the Federal Inland Revenue Service, (FIRS) and instead, recommended that the government considers introducing property tax on the numerous unoccupied houses across the country that are presumably owned by the rich.

The statement also described the decision to enforce the tenancy and lease agreement tax, as illogical and inhumane, especially because of the harsh economic realities of the COVID-19 pandemic on the poor.

   
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