Revenue Generation: Labour Rejects 6% Tenancy, Lease Stamp Duty Agreement - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
July 25, 2020
NLC President Ayuba Wabba who made this known in a statement in Abuja said the Congress noted with dismay the new policy by the Federal Government through the Federal Inland Revenue Service, FIRS stipulating a six per cent stamp duty fee for every tenancy and lease agreement in Nigeria.
The statement also condemned the agreement as the new policy came at a time when the socio-economic pressure arising from coronavirus dislocations was affecting many of Nigerians.
Wabba added that the NLC rejects the new stamp duty policy on rents and leases as it will worsen the situation faced by Nigerian workers most of whom, unfortunately, are tenants.
The labour leader also noted that the principle of public taxation especially progressive taxation all over the world was that the rich subsidizes for the poor and that every tax policy that would be enforceable must create a safety net for the poor.