Lagos State – NBC Institute

TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

Question

Mr. James Ado who is a successful businessman built a house for commercial purposes at Surulere, Lagos, in 2018.
You are given the following information:
(i) The area of the land parcel is 3,600 square metres.
(ii) The average market value of a land parcel in the neighbourhood, on a per square metre basis is N17,000 as determined by the professional valuers appointed by the Commissioner.
(iii) The total developed floor area of the building on the plot of land is 2,000 square metres.
(iv) The average construction value of medium quality buildings and improvements in the neighbourhood, on a square metre basis, is put at N200, based on the market value of the property as determined by professional valuers.
(v) The depreciation rate for the buildings and improvements of land based on the age of the building is put at 1%.
(vi) The annual relief rate is 40%.
(vii) The annual charge rate expressed as a percentage of the assessed market value of the property is 0.76% of the assessed value.
Required:
Compute the land use charge payable by Mr. James Ado.

Answer

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Tags: Commercial Property, Lagos State, Land Use Charge, Property Valuation, Tax computation
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

Question

In 2018, the 8th Assembly, House of Assembly, Lagos State, enacted the Land Use Charge Law 2018, to provide for the consolidation of property and land based charges and make provisions for the levying and collection of land use charge in Lagos State and for connected purposes.
Required:
State the offences and their penalties as stated in sections 29 and 30 of the law. (8 Marks)

Answer

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Tags: Lagos State, Land Use Charge, Offences, Penalties, Property Charges
Level: Level 1

Series: MAY 2021

TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

Question

Section 24(2) of Lagos State Land Use Charge Law 2018, states that the time allowed for an appeal to the tribunal shall be……………….after the date of delivery of the demand notices.
A. 90 days
B. 60 days
C. 45 days
D. 30 days
E. 14 days

Answer

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Tags: Appeals, Deadlines, Lagos State, Land Use Charge, Tax Tribunal
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Commercial Property, Lagos State, Land Use Charge, Property Valuation, Tax computation
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Lagos State, Land Use Charge, Offences, Penalties, Property Charges
Level: Level 1

Series: MAY 2021

TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Appeals, Deadlines, Lagos State, Land Use Charge, Tax Tribunal
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

Question Tag: Lagos State

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TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

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TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

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TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

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TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement"

TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement

Calculate the land use charge payable by Mr. James Ado based on given parameters.

You're reporting an error for "TAX – May 2021 – L1 – SB – Q5b – Tax Administration and Enforcement"

TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement

Identify offences and penalties under the Land Use Charge Law 2018.

You're reporting an error for "TAX – May 2021 – L1 – SB – Q5a – Tax Administration and Enforcement"

TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement

Objective question on the time allowed for appealing Lagos State Land Use Charge demand notices.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q16 – Tax Administration and Enforcement"

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