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Tag Archives: tax

Court orders Abuja Area Councils to stop collecting tenement rate

tenement rate

A court in Abuja has described the collection of tenement rate by the six area councils of the Federal Territorial Capital (FCT) from property owners as unconstitutional and has consequently barred them from further collecting the proper tax. Justice Valentine Ashi held that the collection of the property tax by the six councils was usurpation of functions donated to the ...

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Ambode leads by example, pays Land Use Charge

Revised Land Use Charge

Barely two weeks after the Lagos State Governor, Akinwunmi Ambode signed the new Land Use Charge Law which was passed on January 28, 2018, by the State House of Assembly, to repeal and replace the Land Use Charge Law 2001. Payment of the new charge has commenced in earnest at the Opebi Branch of the Guaranty Trust Bank Plc, (GTB), Ikeja. ...

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Lagos State boosts infractsructure with tax revenues

tax revenues-Lagos State boosts infrastructure

Nigerians usually get into the fray each time popular footballers are charged by the Spanish authorities for alleged tax offences. Lionel Messi, Cristiano Ronaldo and Neymar have at various times, been linked to tax fraud, triggering outbursts in Nigeria about the propriety of such actions. The emotional attachment to these footballers or their clubs often beclouds the underlying issues: tax ...

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FG Advised to Introduce Subsidy in Housing, Tax Occupied Property

…As stakeholders propose affordable housing bill to NASS Experts in the housing sector of the nation’s economy at the weekend called on the Federal Government to introduce subsidy in the sector to enable the country achieve the dream of providing affordable housing for the citizenry. They argued that such measure if applied, would not only help greatly in abridging the ...

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LIRS shuts down 11 hotels over N354.75m tax evasion in Lagos

tax evasion in lagos

As part of the war against tax evasion in Lagos, the Lagos State Internal Revenue Service (LIRS) on Thursday shut 11 hotels, restaurants and event centres over alleged failures to remit their taxes under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. Mr Seyi Alade, Director, Legal Services of the LIRS, said this after a state-wide tax ...

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Granting of Pioneer Status doesn’t exactly benefit real estate companies – Tax Expert

pioneer status in nigeria

In August this year, the Federal Executive Council approved 27 new industries and products to enter into the pioneer status. This incentive scheme was to give tax holidays to these industries for three years, to enable them to grow and expand investments. Among these industries are real estate industries. Correspondent of Nigeria Real Estate Hub (NREH), Esther Adeniyi interviewed a ...

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Osinbajo to open third International Conference on Tax in Africa in Abuja

third International Conference on Tax in Africa

According to The Nation, Vice President Yemi Osinbajo will today open the third International Conference on Tax in Africa (ICTA) in Abuja. The ICTA’s flagship conference of the African Tax Administration Forum (ATAF), with the theme: “Building Strong Domestic Tax Regimes in Africa: Strengthening VAT, PIT and CIT” will end on Friday. The conference will also celebrate and recognise the ...

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Federal Government grants Dangote Group 10-year tax incentive

Dangote Group 10-year tax incentive

According to Premium Times, the Nigerian government has granted Dangote Group 10-year tax incentive for the construction and rehabilitation of roads, Minister of Power, Works and Housing, Babatunde Fashola, has said. Mr. Fashola made this known while speaking at the Businessday Road Construction Summit, held in Victoria Island, Lagos, on Friday. Mr. Fashola, who disclosed that construction of the Apapa to Oworonshoki ...

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Kano state to grant land and tax incentives to investors

Kano state to grant land and tax incentives to investors

Gov. Abdullahi Ganduje of Kano State on Wednesday says the state is ready to grant land and tax incentives to investors, to revolutionise agriculture and promote investments in various sectors. Ganduje said this at the 2017 Annual General Conference of the Nigerian Bar Association (NBA) in Lagos with the theme “African Business: Penetrating through Institution Building’’. The governor spoke at ...

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