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NLC Kicks Against 6% Stamp Duty On Tenancy Agreements

Nigeria Labour Congress (NLC) has kicked against the six percent stamp duty fee on all tenancy and lease agreements.

The Federal Inland Revenue Service (FIRS) had directed property owners and their agents to charge 6 percent stamp duty and remit promptly to the Service.

On Friday, NLC reacted in a statement entitled: “The Nigeria Labour Congress condemns the 6% stamp duty on tenancy and lease agreements in Nigeria.”

NLC President, Comrade Ayuba Wabba 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 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.

NLC Kicks Against 6% Stamp Duty On Tenancy Agreements

“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 statement read.

NLC 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.”

He stressed that tenants, which this new policy was targeting were some of the most vulnerable people in 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 subsidise 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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