Written by Chuks NZEH

…Rejects 6percent stamp duty on tenancy, lease agreement

The Nigeria Labour Congress, NLC, has condemned the recent proposed 6 percent stamp duty on tenancy and lease agreements calling on the Federal Government and Federal Inland Revenue Service, FIRS to rescind the decision.

This was made known by the president of congress in a statement in Abuja, where he cited the recent economic challenges caused by the COVID 19 pandemic.

Wabba said, "We read with dismay the new policy by the Federal Government through the Federal Inland Revenue Service, FIRS, stipulating a 6 percent stamp duty fee for every tenancy and lease agreement in Nigeria.

"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 whom, 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 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.”

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