Rescind 6% stamp duty on tenancy agreement, NLC tells FG

The Nigeria Labour Congress has opposed the six per cent stamp duty fee for every tenancy and leases agreement stipulated by the Federal Inland Revenue Service.

It described the new tax as a financial burden on poor Nigerians at a time they were facing socio-economic pressure arising from the COVID-19 pandemic.

The NLC President, Ayuba Wabba said this  in a statement in Abuja on Friday, entitled,’The Nigeria Labour Congress condemns the 6% stamp duty on tenancy and lease agreements in Nigeria.’

It read, “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.”

The union called on the Federal Government and the FIRS 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.”

Wabba said nobody would want to be a tenant if they had an alternative, adding that tenants, which this new policy was targeting were some of the most vulnerable people in the society.

He noted, “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.

“The principle of public taxation, especially progressive taxation all over the world is that the rich subsidises for the poor. Every tax policy that would be enforceable must create a safety net for the poor. Recent policies of government indicate otherwise.”
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