₦airaland Forum

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H MMMMMMMM LAUGH WAN TEAR MY STOMACCH

God loves you

uuzba:
You write people's projects? So what do the people do when you are writing their projects?

Here you are blatantly corrupt? Which Nigerian leader are you better than now?

your solutions

https://www.nairaland.com/4505943/staff-payroll-solution-schools-hotels

your solutions

https://www.nairaland.com/4505943/staff-payroll-solution-schools-hotels

your solutions

https://www.nairaland.com/4505943/staff-payroll-solution-schools-hotels

your solutions

https://www.nairaland.com/4505943/staff-payroll-solution-schools-hotels

The Employers of Labour are deemed to be the unpaid agent of the tax authority for the purpose of deducting and remitting the taxes from the salaries due to the employees.

WHAT IS PAYE?

The abbreviation P.A.Y.E. stands for Pay-As-You-Earn and it is a Tax payment method in which an employer is required by law to deduct income tax from an employee’s taxable wages or salaries.

Remittances of PAYE are based on your place of residence irrespective of where you work. For instance, if you live in Lagos and you work in Rivers State your tax remittances for PAYE is paid directly to Lagos State Internal Revenue Account.

You need solutions to the PAYE Computations for your school, hotel, business or you want us to build a working spreadsheet for PAYROLL solution?


Contact us on onaaramichael@gmail.com
or 08062569822

Land Use Charge (LUC) is a Lagos State Property Tax backed by the Land Use Charge Law of 2018. It is a consolidation of Ground Rent, Tenement Rate, and Neighborhood Improvement Levy. Land Use Charge is not a new form of tax and it encompasses all real estate property situated in Lagos State and it is an annual tax. The Law backing LUC was first enacted in 2001 but was repealed and re-enacted to address some of the identified challenges which are;

1. Lack of clarity on the LUC formula to support self-assessment;
2. Obsolete rates which had not been reviewed in over a decade;
3. Need to improve LUC administration efficiency; etc.

The new Land Use Charge Law provides a robust legal and regulatory framework to support ongoing LUC administration reforms aimed at growing the State’s economy.

WHO BENEFITS FROM Land Use Charge (LUC) REVENUE COLLECTED

Revenue generated from Land Use Charge forms an integral part of the fund utilized by the Lagos State Government to provide the necessary Social Amenities and Infrastructures for its populace. Invariably, all residents and visitors in Lagos State directly benefits from the Land Use Charge Scheme.

Administration of LUC is under the purview of the Lagos State Ministry of Finance (“MoF”). Owners of property and Lessee of property- who then looks up to the property owner for reimbursement from any money due to him/ her are liable to pay Land Use Charge fees.


THE CONCEPT OF SELF-ASSESSMENT AND ITS IMPLICATION
• Self-assessment essentially means that payers can compute the amount of LUC payable on their respective property by themselves.
•A fair assessment can be confirmed from the value assigned to the property.
• We expect that this will drive up compliance, improve the timeliness of collections and minimize leakages.
Land Use Charge payable on a property shall be arrived at by multiplying the Market Value (“MV”) of that property by the applicable Relief Rate (“RR”) and Charge Rate (“CR”), using the prescribed formula which is LUC = (Land Value + Building Development Value) x Relief Rate x Charge Rate. The formula is interpreted as thus;

LUC = [(LA x LR) + (BA x BR x DR) x RR x CR] •

Where
LA= area of the land parcel in square metres
LR= average Market Value of a land parcel in the neighborhood, on a per square metre basis in Naira based on Market Value property as determined by professional valuers appointed the Commissioner for Finance for that purpose
BA= the total developed floor area of building on the plot of land per square metres.
BR=average construction value of medium quality buildings and improvements in the neighborhood, on a per square metre basis in Naira based on the market value of the property as determined by professional valuers appointed the Commissioner for Finance for that purpose
DR= the Depreciation Rate for the buildings and improvements of land which accounts for the building being of higher or lower value than the average buildings in the neighborhood and which also accounts for the degree of completion of construction of the building
RR= rate of relief from tax (if any) applicable to the owner/occupier in the circumstances shall be determined by the Commissioner and published in the State Government Official Gazette and in one or more newspapers circulating within the State and reviewed by the Commissioner once every five years
CR= annual charge rate expressed as a percentage of the Assessed Market Value of the property and which may, at the State Government’s discretion, vary between:
a)owner occupied and other properties;
b)residential property and commercial (revenue-generating property);
c)physically-challenged persons; and
d)persons who have been resident at the same location for at least 12 years, minor, retired owners and occupiers.


The Annual Charge Rate to be applied to eligible property in Lagos State shall be as follows:

Continue reading here: http://taxnaija..com.ng/2018/04/land-use-charge-repealed-and-re-enacted.html

Very good

you will need this article.


https://www.nairaland.com/4449038/land-use-charge-repealed-re-enacted

kokostick:
Try understand pigin first

who pigin help

https://www.nairaland.com/4449038/land-use-charge-repealed-re-enacted

OGHENAOGIE:
So they still reduce inside d moni yy sm pple no go jst De collect moni doing nothing....useless Npower pple and govt.... Yyy ina start 2017 process if ina bin no ready yyy

Don't understand u. Take water first before u reply