NLC rejects 6% stamp duty on tenancy and lease agreements

The Nigeria Labour Congress (NLC) has voiced its strong opposition to the six per cent stamp duty on tenancy and lease agreement in the country; and rejected the new policy by the Federal Government through the Federal Inland Revenue Service (FIRS).

Describing the six per cent tenancy and lease stamp duty policy as boldly insensitive, the NLC said it expected its reversal and called on the Federal Government and the FIRS to immediately rescind the harsh fiscal measure.

The NLC President, Comrade Ayuba Wabba, said the congress condemned the six per cent stamp duty, saying that the policy would worsen the deplorable situation faced by Nigerian workers most of who are tenants.

Wabba said: “This new financial burden on poor Nigerians comes at a time when the socio-economic pressure arising from COVID-19 dislocations is pushing many Nigerians beyond the limits.

“The Nigeria Labour Congress rejects this new stamp duty policy on rents and leases as it would worsen the deplorable situation faced by Nigerian workers most of who, unfortunately, are tenants. It is also alarming that we are having a rash of hike in taxes and user access fees when other countries are offering palliatives to their citizens.

“We call on the Federal Government and the Federal Inland Revenue Service to rescind this harsh fiscal measure as it is boldly insensitive to the material condition of Nigerians which has been compounded by the COVID-19 health insurgency. Nobody would want to be a tenant if they had an alternative.

“This means that tenants, which this new policy targets, are some of the most vulnerable people in our society. It would be illogical, insensitive and inhumane to churn out laws that make our poor go to bed at night with tears in their eyes.

“The principle of public taxation, especially progressive taxation, all over the world is that the rich subsidize for the poor. Every tax policy that would be enforceable must create a safety net for the poor. Recent policies of government indicate otherwise.

“Accommodation is a fundamental right guaranteed by Nigeria’s constitution. It is unimaginable that tenants who are in the most vulnerable group would be expected to pay six per cent tax for accommodation when sales tax is 1.5 per cent. This is indeed a great injustice against the Nigerian poor.”

It added: “While we expect the reversal of the six per cent tenancy and lease stamp duty  policy, we remind the government that its highest responsibility is to ensure the security and welfare of every Nigerian. It is a social contract. It is a sacred duty.”

 

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Nigeria’s tally of confirmed COVID-19 cases on Saturday rose to 40,532 as 555 new infections were announced by the Nigeria Centre for Disease Control (NCDC)… Read Full Story
The dust is yet to settle over claim and counterclaim on the list of lawmakers in the eighth and previous assemblies who benefitted from contracts from the Niger Delta Development Commission  (NDDC) as the National Youth Council of Nigeria (NYCN) claims the Minister of Niger Delta Affairs actually listed the names of the…Read Full Story
Now, if the seller does not sell, what shall the buyer buy? Fear of death and disease has emptied the entertainment shelf of life everywhere. It is worse in Nigeria. There is nothing new on DSTV again to kill boredom and entertain us. No movie. No sports. What is shown as football is just a mimic of the real thing… Read Full Story
SUSPENDED acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has denied media reports that the commission under him misappropriated the sum of N329 billion recovered for the Nigerian National Petroleum  Corporation (NNPC). Magu denied what he termed… Read Full Story
GOVERNOR Udom Emmanuel of Akwa Ibom State says his administration has expended over N3 billion to contain the spread of COVID-19, but that such feat was achieved without commensurate support from the Federal Government in spite of billions of cash donated by individuals, corporate bodies, local and… Read Full Story
THE Central Bank of Nigeria (CBN) has warned that Participating Financial Institutions (PFIs) in the non-interest intervention programmesthat engage in diversion of funds risk a penalty at its maximum financing rate at the time of the infraction and such (PFIs)Read Full Story
The Chief Press Secretary to Governor Seyi Makinde of Oyo State, Mr Taiwo Adisa, has asked the governorship candidate of the All Progressives Congress (APC) in the 2019 election, Mr Adebayo Adelabu, to rise above cheap politics in his criticisms of the state’s Prosperity Bond unveiled last Wednesday… Read Full Story
The 21st century has witnessed a major rise in digital technology as life and living are integrated and made easier by the evolving technology. The economic system was not left out as innovative features continue to be released which resulted in birth of Bitcoin in 2008… Read Full Story
Several attributes make great leaders. However, two of them stand out. These are paying attention to details and the ability to think through a problem… Read Full Story
What’s the best way to lead your team? Should you demonstrate with examples, motivate followers to keep going or provide team members with time and space to thrive or fail on their terms?… Read Full Story
A trending video of a young lady, Towobola, being maltreated and dehumanised by policemen attached to Area ‘A’ Command, Lion Building, Lagos but on a mission in Ibadan, Oyo State has, for the umpteenth time, showcased the low quality of some police personnel deployed to combat violent crimes in the country. This class of personnel is either not adequately trained and not teachable, or it is utterly incorrigible… Read Full Story
On May 14 this year, the Director-General of the World Trade Organisation, WTO, Roberto Carvalho de Azevedo of Brazil, announced that he will be stepping down by 31 August, a year before his mandate is due to end. A distinguished diplomat, he was elected to the post in May 2013… Read Full Story
Reputation is what people think you are based on the you that is revealed to them. Character, however, is really who you are when no one is watching you or breathing down your neck and there is no fear of penalty or the need to put up a good appearance. The real challenge of responsible conduct is, if your character… Read Full Story
As this year’s Eid al-Adha nears, the Nigerian Supreme Council for Islamic Affairs (NSCIA) has told Muslims to remember that they are living in unusual times where normalcy has become abnormal… Read Full Story
You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More