Nigerians lament as FIRS introduce 6% stamp duty on tenancy



We’re still battling electricity tariff increment, high forex, stamp duty charges on every credit alert, vat increment, stamp duty on properties,ground rent etc.
Now,FIRS has introduced 6% stamp duty on tenancy, to be paid with your rent to your landlord who in turn remits to Government.

In a country where 70% of the youths are jobless,  no electricity, running water, ill-equipped security with many illegal extortion from security personnel.

And if u ask them what they do with Tax payers money, they’ll be fainting
It’s like these guys don’t understand what over 150m Nigerians face daily.


It’s worse if you’re a business owner, Ease of doing business is crazly bad, Personal Income Tax,Firs, State tax,LG tax,Stamp Duty,HOUSE Rent charge,VAT etc.
All these on one income o.

Read Also >> Electricity Workers Give 14-Day Ultimatum to Resume Strike

The middle class we have will soon be eliminated & what will remain will be Rich or poor

Ok, Let me break the 6% FIRS tax down.
If u’re moving into a new apartment & your rent is 500k p.a, u’re to pay the following as total package:
Rent- 500k
Agency fee, 10%- 50k
Legal, 10% – 50k
Caution fee, 10% – 50k
FIRS Stamp duty, 6% – 30k
Total= 680k.

N.B the % can be more o

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