Experts have condemned the timing of the implementation of the stamp duty on rent and leases in the country.
The experts who spoke with The PUNCH on Monday in separate interviews asked the Nigerian government to emulate other countries that were easing the tax burden on their citizens.
He pointed out that countries like Germany had granted many people and businesses tax waivers until the economy improves. He noted that the COVID-19 palliative loan introduced by the Central Bank of Nigeria, which would have cushioned the effect of the pandemic on small businesses and household had not been strategically deployed.
The Director General, Nigeria Employers’ Consultative Association, Timothy Olawale, stated the government had a legal basis for collecting stamp duty on rent and leases.
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