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Wike Approves Property Tax In Abuja - Politics - Nairaland

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Wike Approves Property Tax In Abuja by Thonyb2: 12:14pm On Nov 13, 2023
The Minister of the Federal Capital Territory, Nyesom Wike, has approved a draft property tax regulation for the city.

The development means that property owners in Abuja would start paying property taxes.

The FCT-Internal Revenue Service is said to have commenced the implementation of Capital Gains Tax in the FCT, as stipulated in the Capital Gains Tax Act 2004.

The Capital Gains Tax mandates the payment of ten per cent tax on the total amount of chargeable gains accruing to any person on the disposal of chargeable assets in a year of assessment.


Haruna Abdullahi, the Executive Chairman, FCT-IRS, made this disclosure when he spoke to journalists in Abuja on Sunday.

Abdullahi said the minister had approved some key initiatives to drive revenue for the FCT.

He said, “In the last three weeks, the minister has approved some initiatives that are huge and will certainly change the dynamics in terms of the bottom line. Just the other day, we submitted a draft proposal to the minister for the FCT property tax regulation.

“The FCT-IRS Act empowers the minister to come up with a property tax regulation for the FCT. So we had a long conversation and we suggested it to the minister, and he asked us to come up with a draft regulation, which we did, and he has approved the initiative.


“So we have an inter-agency collaboration whereby we review it because the draft was just done by the FCT-IRS, but that’s not enough, you need other stakeholders. So he approved the initiative to go ahead and review the draft and then come back.

“Subsequently at the end of the day, he will sign the regulation and is gazetted and implemented. So that alone should tell you that there is a huge positive impact on the bottom line of the IGR in the city.”

https://.ng/2023/11/13/wike-approves-property-tax-in-abuja/

14 Likes 3 Shares

Re: Wike Approves Property Tax In Abuja by Bliss62: 12:18pm On Nov 13, 2023
grin



Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge


Oga Wike softly softly, Abuja no be Rivers


.

64 Likes 6 Shares

Re: Wike Approves Property Tax In Abuja by Bobloco: 12:54pm On Nov 13, 2023
sad
Re: Wike Approves Property Tax In Abuja by StreetFight: 1:04pm On Nov 13, 2023
Bliss62:
grin

Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge

.

Wike the wicked one with the support of the god of Politics Emilokan Asiwaju Tinubu will crush any group of idiots ganging up against the government

65 Likes 4 Shares

Re: Wike Approves Property Tax In Abuja by masseratti: 1:06pm On Nov 13, 2023
Dead on arrival... It's a good tax tho.. Especially for those empty houses in Abuja with no occupants, maybe this will drag down the price of houses in Abuja if people fill those empty houses, because I see no reason why someone should be paying taxes in those big houses like 20 a year with no one staying in it.

56 Likes 3 Shares

Re: Wike Approves Property Tax In Abuja by Bliss62: 1:06pm On Nov 13, 2023
StreetFight:


Wike the wicked one with the support of the god of Politics Emilokan Asiwaju Tinubu will crush any group of idiots ganging up against the government

Make e Sha do softly and calm down

2 Likes

Re: Wike Approves Property Tax In Abuja by Tjra: 1:09pm On Nov 13, 2023
Bliss62:
grin

Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge

.
Which mafia? See this fear fear

BTW, Abuja is not an Hausa/Fulani 'owned' state.

74 Likes 5 Shares

Re: Wike Approves Property Tax In Abuja by chiiraq802(m): 1:42pm On Nov 13, 2023
Nye-rishi

3 Likes

Re: Wike Approves Property Tax In Abuja by SoNature(m): 1:57pm On Nov 13, 2023
It will triple the FCT IGR because many netizens are more interested in IGR competition than improving the lives of the people.

38 Likes 2 Shares

Re: Wike Approves Property Tax In Abuja by Christistruth03: 1:59pm On Nov 13, 2023
Bliss62:
grin



Fulani and Hausa mafias dey plan for Wike as he dey do anyhow

They will revenge



.


They will pay the Tax

15 Likes

Re: Wike Approves Property Tax In Abuja by victorclean(f): 2:02pm On Nov 13, 2023
Rich men should pay more tax than the poor/ average. Provided it does not affect the house rents for the poor/ average.

8 Likes

Re: Wike Approves Property Tax In Abuja by helinues: 2:03pm On Nov 13, 2023
Toh
Re: Wike Approves Property Tax In Abuja by mrvitalis(m): 2:03pm On Nov 13, 2023
Finally property tax

0.5% value of house and 15% capital gain tax on real estate is way to go

But I hope I sure hope the government is ready to give the middle class value for tax

Middle class can't be bribed ooh and they can't be intimidated ooh and they are more United across tribe and religion

They are not like poor Nigerians that have been voting since 1999

42 Likes 2 Shares

Re: Wike Approves Property Tax In Abuja by helinues: 2:04pm On Nov 13, 2023
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96 Likes 2 Shares

Re: Wike Approves Property Tax In Abuja by orisa37: 2:09pm On Nov 13, 2023
SUPPORTED.

2 Likes

Re: Wike Approves Property Tax In Abuja by SalamRushdie: 2:13pm On Nov 13, 2023
As usual only southerners will be forced to pay , I know no Hausa Fulani will pay zilch
Re: Wike Approves Property Tax In Abuja by Gajagojo: 2:41pm On Nov 13, 2023
masseratti:
Dead on arrival... It's a good tax tho.. Especially for those empty houses in Abuja with no occupants, maybe this will drag down the price of houses in Abuja if people fill those empty houses, because I see no reason why someone should be paying taxes in those big houses like 20 a year with no one staying in it.
Capital gains is a tax on the profit you make when you sell a property

If you buy for 10 million and sell for 20 the profit is taxed
this particular tax dues not apply to empty buildings

Nigerians are tricky they will find a way to declare selling at less than what they paid when buying

29 Likes

Re: Wike Approves Property Tax In Abuja by masseratti: 3:05pm On Nov 13, 2023
Gajagojo:
Capital gains is a tax on the profit you make when you sell a property

If you buy for 10 million and sell for 20 the profit is taxed
this particular tax dues not apply to empty buildings

Nigerians are tricky they will find a way to declare selling at less than what they paid when buying
oh thanks for the info... Guess I learn something today tho.. Thanks.

21 Likes

Re: Wike Approves Property Tax In Abuja by princeade86(m): 3:26pm On Nov 13, 2023
K
Re: Wike Approves Property Tax In Abuja by BOSSkesh(m): 3:27pm On Nov 13, 2023
Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhh
That’s not it oh abeg
Ahhhhhhhhhhhhhhhhhhhhhhhh
Re: Wike Approves Property Tax In Abuja by Lanre4uonly(m): 3:27pm On Nov 13, 2023
Okay.
Re: Wike Approves Property Tax In Abuja by FreeStuffsNG: 3:27pm On Nov 13, 2023
So all these years, they don't pay property tax in Abuja shocked
So much gaps in the system and this is why Asiwaju Tinubu ran for this office, to solve these problems. May God grant Asiwaju Tinubu tremendous success. God bless Nigeria for ever! Check my signature for free stuffs!

18 Likes

Re: Wike Approves Property Tax In Abuja by BigBlackPreek(m): 3:28pm On Nov 13, 2023
Lord Wike himself! 👏

6 Likes

Re: Wike Approves Property Tax In Abuja by Mikelarteta(m): 3:29pm On Nov 13, 2023
This guy is playing Tinubu’s script. Una go soon start to Dey pay for Oxygen. I don’t have a problem with paying property tax which is the right thing g to do, but my problem is how effective will it be utilized.

10 Likes 1 Share

Re: Wike Approves Property Tax In Abuja by FOOTSOLDIER2(f): 3:30pm On Nov 13, 2023
Fake news from IPOB media tongue
This tax Levy is only for obideints and we are teaching Peter Obi and obideints a hard lesson cheesy grin

7 Likes 1 Share

Re: Wike Approves Property Tax In Abuja by orohbirodeysmel: 3:30pm On Nov 13, 2023
Very good...
All man must pay...the big men in Nigeria na them get 80% of Abuja real estate

4 Likes

Re: Wike Approves Property Tax In Abuja by emmanuelbrown26: 3:31pm On Nov 13, 2023
Well. D issue is that sensible Nigerians does not trust dis govt of propaganda and failure, if not tax is one of d ways to generate money

6 Likes

Re: Wike Approves Property Tax In Abuja by Skillsnigeria: 3:31pm On Nov 13, 2023
grin hmmm
Re: Wike Approves Property Tax In Abuja by CoronaVirusPro: 3:33pm On Nov 13, 2023
victorclean:
Rich men should pay more tax than the poor/ average. Provided it does affect the house rents for the poor/ average.

It will always trickle down to the poor/average.

4 Likes

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