(Available also for Customised Training by Duration, Venue & Fee)
Property taxes are untapped sources of revenue to the government which includes rent and transfer of properties. Efforts at deepening revenue effort in this direction will greatly enhance revenue generation of the governments and their abilities to perform their fiscal responsibilities.
1. To expose participants to the provisions of various property laws relating to taxation of properties.
2. To assist participants identify sources of untapped revenue in Property Taxation.
3. To expose participants to various court cases and the underlying principles of court decisions.
• Constitutional Validity of Tax Laws.
• Land Use Act.
• Properties –Definitions and Types.
• Recent developments in administration of property tax
• Chargeable Assets and Properties
• Laws relating to Property Taxation
- Personal Income Tax
- Companies Income Tax
- Capital Gains Tax
- Stamp Duty
- Consent Fee
- Inheritance and Gift Taxes.
- Tenement Rates
- Land Use Charge
- Planning Rates
- Withholding Tax.
• Estates, Trusts and Settlements
• Probate Process and Payments
• Rental Income
• Ground Rent.
• Property Validation
- Impact of Validation on Property Tax
- Assets and Properties situated outside Nigeria
- Disposal of Assets and Properties
- Computation of Capital Gains on Assets and Properties
- Artificial or Fictitious transactions
- Assets and Properties lost or destroyed
- Transactions between connected persons
- Replacement of Assets and Properties
- Insurance Matters and Company’s Properties
- Exemptions and Reliefs
• Property holding and Property Dealing Businesses
• Taxation of Construction Businesses
• Applicability of VAT on Property Transactions
• Federal Capital Territory Tax Bill
• Stamp Duty
• Land Use Charge of Lagos State (as an illustration)
• Prospects of Property Taxation in Nigeria
• Challenges in Property Taxation
• CASE LAWS.