Public Hearing for Amendment of Land Use Charge holds

 

·        Boasts highest attendance in the history of the Lagos State House of Assembly

·        Not affected by the walk-out of members of the Ikeja NBA

 

The public hearing on the proposed amendment to the 2018 Land Use Charge Law held today at the Lagos State House of Assembly. Interest in the Land Use Charge legislation has been very high ever since the uproar generated when a few weeks ago, the government began distributing demand notices in line with the 2018 version of the Land Use Charge. Some members of the public were surprised at the new Land Use Charge tariffs charged, sequel to the new law. In response to the uproar generated, the Lagos State Government proposed a number of drastic amendments to the law including tariff cuts across board. It is these amendments among others that are now being considered by the parliament.

READ MORE

 

 

 

Commissioner for Finance, Mr. Akinyemi Ashade (2nd right); his counterpart for Information and Strategy, Mr. Kehinde Bamigbetan (right); Attorney General & Commissioner for Justice, Mr. Adeniji Kazeem (2nd left) and Special Adviser to the Lagos State Governor on Lagos Global, Prof. Ademola Abass (left) during the media briefing on the reduction of the Land Use Charge at the Bagauda Kaltho Press Centre, the Secretariat, Alausa, Ikeja, on Thursday, March 15, 2018.

…Grants 50% Reduction On Commercial Charges, 25% For Owner-Occupier, Manufacturing Concerns

… Gives Tax Credit For Payment Already Made, Introduces Instalment Payment Plan

 

Following extensive deliberations with stakeholders on the new rates payable by property owners under the Lagos State Land Use Charge (LUC) Law, the State Government on Thursday announced a major reduction in the rates and as well waived the penalty for late payments across board.

 

READ MORE

A consumption tax is essentially a tax on the purchase of a good or service. It may take different forms such as sales taxes, tariffs, excise or other taxes on consumed goods and services. It has the distinct feature of not penalizing savings unlike income taxes. Consumption tax is charged in different forms in several…

ANY country that wants to achieve  development must take a second look at how much revenue it generates from taxes, especially consumption taxes. Such taxes are charged on the purchase of goods or services, with rates varying from one country to the other.

Statistics showed that in Canada, consumption tax rates range from zero to 10 per cent along with the federally applied goods and services tax of five per cent just like Nigeria’s Value Added Tax (VAT).

READ MORE

 

Transportation is the pivot around which the wheel of every modern economy revolves. The efficiency with which people, goods and services can move from one point to the other largely determines the quality of life of the society.

With over 5 million cars and 200,000 commercial vehicles on the roads (when the national average is 11 vehicles per kilometer), Lagos daily records an average of 227 vehicles per every kilometer of road. This makes it imperative for the state government to vigorously pursue scientific transportation management; hence the creation of Lagos State Motor Vehicle Administration Agency (MVAA) as an autonomous statutory body, charged with the responsibility of developing a sustainable policy on motor vehicle documentation and other related matters.

READ MORE

The Lagos State Land Use Charge (LUC) is a consolidation of all property and land based rates and charges payable under Lands Rates, Neighborhood Improvement Charge and Tenement Rates Laws of Lagos State. The Land Use Charge derives its legitimacy from the Land Use Charge Law No. 11, of 2001. It was designed to help the government generate additional revenue needed to develop the state in the light of increasing demand for provision of urban and rural infrastructure and other expenditure.

READ MORE