NLC rejects six percent tenancy, lease duty agreement

NLC rejects six percent tenancy, lease duty agreement

- The new tenancy tax has been rejected by NLC

- According to the labour body, the policy came at a bad time

- Going further, the NLC said the policy will worsen the economic condition of Nigerians

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Following an outcry from Nigerians, Nigeria Labour Congress (NLC) has called on the federal government led by President Muhammadu Buhari to reverse the six percent tenancy and lease stamp duty agreement in the country.

This was disclosed by Ayuba Wabba, NLC president in a statement on Saturday, July 25, in Abuja.

Wabba said the new policy came at a time when the socio-economic pressure arising from COVID-19 dislocations was affecting many of Nigerians.

As a result of this, he said the NLC rejects this new stamp duty policy on rents and leases.

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He said the policy will worsen the situation faced by Nigerian workers most of whom, unfortunately, are tenants.

“It would be illogical, insensitive and inhuman to churn out laws that make our poor go to bed at night with tears in their eyes,” he added.

Recall that Legit.ng had reported that Nigerians are now required to pay stamp duty on house rent agreements and Certificate of Occupancy (C of O) in line with a new directive of FIRS.

Abdullahi Ahmad, a spokesperson for the FIRS made the disclosure in a statement in Abuja on Thursday, July 2.

He advised Nigerians to ensure that documents pertaining to rent or lease agreements for their homes or offices are subjected to authentication with the new FIRS adhesive stamp duty.

Ahmad also said other common business-related transaction instruments should also be subjected to stamp duty.

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Meanwhile, Legit.ng had reported that in order to reduce the people's suffering over the coronavirus lockdown, the landlords in Kaduna state have been urged to give two months free rent to their tenants.

The two-month free rents would cushion the effects of the current economic hardship people are being faced with over the COVID-19 pandemic.

The call was made by an interfaith specialist, Hajiya Ramatu Tijjani, and the general overseer of Christ Evangelical and Life Intervention Ministry, Pastor Yohanna Buru in separate interviews.

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Source: Legit.ng

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