The new Lagos monthly rent scheme
The Lagos State Government will be implementing a monthly rent scheme in the state beginning from January 2022, which is no longer far from today. That means …
اقرأ أكثرTENANCY LAW OF LAGOS STATE
3. Tenancy Agreement. A tenancy agreement shall for the purposes of this Law, be deemed to exist where premises are granted by the landlord to a person for value whether or not it is –. (a) Express or implied; (b) Oral or written or partly oral or partly written; or. (c) For a fixed period. 4.
اقرأ أكثر(PDF) TENEMENT RATES AND THE LAND USE …
Oct 2020 Ifeanacho Kenechi Stella Ezeala Iwundu Stanley Chinaemerem View Show abstract PDF | Tenement Rate (TR) has been …
اقرأ أكثرStarting a Car Rental Business in Nigeria
Introduction. Renting a car is one of the most cost-effective and easy methods to get around a city. Car rental services are in high demand, especially in trade and commercial hubs like Lagos and other …
اقرأ أكثر(DOC) LANDLORD AND TENANT IN NIGERIA
A tenancy at will is converted into a periodic tenancy if the tenant pays, and the landlord accepts, rent on regular basis.15 1.5.4 Tenancy at sufferance A tenancy at sufferance arises when a tenant holds over (i.e. remains in possession) after his tenancy expires, without the express consent or disapproval of the landlord.
اقرأ أكثرNigeria: Are Incomes From Real Estate Investment Trust Scheme
Section 19(1) of CITA is the basis for the taxation of excess dividend and it provides the conditions upon which the dividends paid by a Nigerian company may be subjected to tax. However, Section 19(2) provides for the exemption of rental and dividend incomes distributed to shareholders of a real estate investment company from excess …
اقرأ أكثرWhat Happens To Tenants When Property Is Sold?
Daily Law Tips (Tip 749) by Onyekachi Umah, Esq., LL.M, ACIArb(UK) Introduction: There is always a panic in rented property, once a landlord desires to sell the property. Most tenants in such circumstances, are not sure if their tenancy agreement will be terminated by the new purchaser/owner. Increase in rent; many tenants fear that the […]
اقرأ أكثرNigeria Fiscal Guide 2022
accounts) and deemed profit basis (currently 20% of revenue). Until 2015, it was the practice of the FIRS to assess non-resident companies to CIT on deemed profit basis only. However, the FIRS in that year issued a public notice on the filing of Tax Returns by NRCs under the CIT Act, Cap C21, Laws of the Federation of Nigeria (LFN) 2004 (as ...
اقرأ أكثرSubject: TAXATION OF NON-RESIDENTS IN NIGERIA
12.0 Enquiries. Executive Chairman, Federal Inland Revenue Service, Revenue House,15, Sokode Crescent, Wuse Zone 5, Abuja. Or Director, Tax Policy and Advisory Department Federal Inland Revenue Service Revenue House Annex 4, 12, Sokode Crescent, Wuse Zone 5, Abuja. Or Email: [email protected].
اقرأ أكثرEffect of Non-Payment of Ground Rent in Nigeria.
Ground rent is lawful and to be collected by state governments. Here is the effect of non-payment of ground rent in Nigeria.
اقرأ أكثر"What is Ground Rent, Who Should Pay and Who Should Collect It".
It is to be paid by a land owner (holder of a certificate of occupancy) within a given period. Ground Rent calculations by a state government is not affected by improvements, developments and structures built on land. State Governor can reduce or …
اقرأ أكثرLease Vs Tenancy Agreement In Nigeria: All You Need To Know
Tenancy: 1. A tenancy refers to the right to occupy a property as a tenant. It grants the tenant the legal right to live in the property for a specific period, usually on a month-to-month basis. 2. As a tenant, you are required to pay rent to the landlord for the use of the property. They typically outline the amount and frequency of rent ...
اقرأ أكثرDo Nigerians pay rent monthly?
How much money do you need to live comfortably in Nigeria? Summary of cost of living in Nigeria: A family of four estimated monthly costs are 1,451.0$ (1,109,318.8₦) without rent. A single person estimated monthly costs are 405.6$ (310,113.1₦) without rent. Cost of living in Nigeria is, on average, 70.6% lower than in United States.
اقرأ أكثرPERSONAL INCOME TAX IN NIGERIA – What You Should Know …
Uncategorized. 1. Personal Income Tax (PIT) is a statutory obligation imposed by the government on the incomes of individuals, communities and families, trustees or executors of any settlement. In Nigeria, PIT is guided by the Personal Income Tax Act Cap P8 LFN 2004 (as amended). Although PIT is a federal obligation, it is …
اقرأ أكثر(PDF) A Review of Studies on Real Estate Investment Performance in Nigeria
A Review of Studies on Real Estate Investment Performance in Nigeria. 10.11113/intrest.v15n2.126. Discover the world's research. 2.3+ billion citations.
اقرأ أكثر20 Key Changes in the new Finance Act 2020 you should be aware of
Below are some of the key changes introduced by the Finance Act 2020. Compensation for loss of office up to N10m exempted from capital gains tax. Tax due on excess above N10m is to be deducted by the payer and remitted within the time specified under the PAYE Regulations. Minimum tax for companies in respect of returns for years …
اقرأ أكثرNigeria: Legal Framework And Requirements For Oil And Gas
In respect of oil and gas investment in Nigeria, Section 2(1) of the Act provides that only citizens or companies incorporated in Nigeria can validly partake in the oil and gas industry for activities such as oil exploration, drilling, storage, production, refining and transportation of the oil and gas. Under this section of the Act, companies ...
اقرأ أكثرHas the Finance Act, 2019 Resolved the Issues
The applicability of Value Added Tax (VAT) to rental income derived from property leases in Nigeria has been the subject of controversy. This stems from the uncertainty as to whether leases, in the first place, constitute "supply of goods and services", and more recently, whether leases, which confer a right to use real property, can be …
اقرأ أكثرWithholding Tax: Beginners' Guide For Small Businesses in Nigeria
Withholding tax rates are usually 10% or 5% depending on the type of transaction and collecting authority for the tax (which can be a Federal Inland Revenue or the State Inland Revenue). [ALSO READ: A legal view of corporate taxation in Nigeria] [ALSO READ: Taxes you need to be aware of if you are about to start a business]
اقرأ أكثرAnother TAT declares commercial rent liable to VAT
where the TAT held that rental income derived from lease of real estate properties, whether for residential or commercial purpose, is not subject to VAT. Another TAT declares …
اقرأ أكثرGross Rental Yield in Nigeria | Nigerian Gross Rental
Rental Yields in Nigeria compared to Africa. South Africa, Cape Town. 7.52%. Nigeria does not publish house price statistics. General economics statistics are from the Central Bank …
اقرأ أكثرModel main object clause of more than 500 types of companies
To draw, create, make or in other way deal in designs, plans and/or specifications of all types of engineering goods, works, plants, factories, buildings, allied construction works for remuneration receivable in lump sum or on commission basis or on royalty basis or on any other way found suitable and to act as manufacturers of …
اقرأ أكثرNigeria: Withholding Tax: The A-Z Of Grossing Up
'Legality of Gross-Up Clauses in Nigeria', an article in Olaniwun Ajayi LP's seminal collection, Legal Aspects of Finance in Emerging Markets (2005) argues that Regulation 2 CITA (WHT Regulations) provision that "a deduction made from a payment shall not be regarded as an additional cost to the contract price as tax due on the …
اقرأ أكثرWhen Should A Landlord Increase House Rent?
When the economy is unfavorable, this might not be a good time to increase your rent. However when the economy is very favourable, and other investors are also coming in to set up their properties and businesses in your area, then this could be the right time. See also Dogara Advocates For Better Housing Loan.
اقرأ أكثرWhat is Tenement Rate? | Citacle Realtors
Section7 (4 th Schedule) of the 1999 constitution of Federal Republic of Nigeria; and Taxes and Levies (Approved List of Collection) Act No. 21 of 1998 empowers the Local Government Authorities to demand and collect Tenement Rates. In the Federal Capital Territory (FCT), the enabling law is the Federal Capital Territory Act Cap 503, …
اقرأ أكثرList of Top 10 Steel Companies In Nigeria
3. KAM INDUSTRIES. Kam Industries is one of the steel companies in Nigeria which manufactures quality steel products such as British Reinforcement Concrete (BRC), roofing nails, couper nails, mesh wire and binding wire. Address: 5, New Yidi Road, Ilorin, Kwara State, Nigeria. Contact Address: 08035960273, 07084381466.
اقرأ أكثرSingle men suffer rental housing discrimination, its not just women
Frequency of Rent Denial and Reasons for Discrimination According to the survey, 33.3% of the respondents were denied rent twice, 28.8% were denied rent once while 28.9% have never experienced.
اقرأ أكثر14680+ House, Flats & Office For Rent in Nigeria.
The average price of houses for rent is ₦2,842,567 The most expensive house costs ₦50,000,000. while the cheapest costs ₦20,000. We have a total of 15,822 Property for rent in Nigeria updated on 12 Jan 2024. Among these properties are houses, lands, shops, apartments, flats and commercial spaces . Every Real Estate in Nigeria posted on ...
اقرأ أكثرNigeria: Determination Of Residence Under The Personal Income
Determination of Residence. By the combined reading of Section 2 (2) of the PITA and the provisions of the First Schedule to the Act, the collection of a tax imposed on an individual's income will be determined by looking at the territory of residence where the individual concerned is deemed to be resident. In determining the residence of an ...
اقرأ أكثرHouses for Rent in Nigeria (8,214 available)
The most expensive house costs ₦75,000,000 per annum while the cheapest costs ₦600,000 per annum. There are 8,280 available houses for rent in Nigeria. The houses have been listed by estate agents who can be contacted using the contact information provided for each house listing. The list can be filtered by price, furnishing and recency.
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