Just as Nigerians are still battling the negative economic effects of the COVID-19 Pandemic, the Federal government through its tax collector, the Federal Inland revenue Service (FIRS), announced the implementation of a six per cent stamp duty on rent and lease.
The announcement by the FIRS naturally angers majority of the masses with many lashing out at government for “being inconsiderate” but Estate Surveyor and Valuer, Olusegun Oluyemo says there is no cause for alarm.
The FIRS has warned that the stamp duty is not a basis for increase in rent however, in a country where inflation and rent keep rising at an unchecked rate, can Nigerians afford to pay more?
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