Lagos State Tax Law – NBC Institute

TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

Question

In 2018, the Lagos State Government promulgated the Land Use Charge Law to provide for the consolidation of property and land-based charges and make provisions for the levying and collection of land use charge in the state and for connected purposes.

Section 12 (1) of the Land Use Charge Law, 2018, of Lagos State, provides for the exemption of specified categories of properties from the payment of land use charge.

Required:
State SIX categories of properties exempted from land use charge.
(12 Marks)

Answer

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Tags: Exemptions, Lagos State Tax Law, Land Use Charge, Property Tax
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

Question

Under the Land Use Charge Law of Lagos State, 2018, relief rate may reflect the following factors, EXCEPT:
A. Status of the owner (the age and retirement)
B. State of origin
C. Depreciation rate of the property
D. Whether or not the owner is physically challenged
E. The length of time for which an owner has been resident in the property in question

Answer

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Tags: Lagos State Tax Law, Land Use Charge, Property Tax Relief, Relief Rate
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

Question

Under the Land Use Charge Law of Lagos State, 2018, “market value” means:
A. Total sum of land value and building development
B. Building development
C. The total developed floor area of building on the plot of land in square metres
D. The average construction value of medium quality buildings and improvement in the neighbourhood
E. The average market value of a land parcel in the neighbourhood

Answer

Find Related Questions by Tags, levels, etc.

Tags: Lagos State Tax Law, Land Use Charge, Market Value, Property Tax
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

Question

Section 12 (1) of the Land Use Charge Law, 2018, of Lagos State, provides for the exemption of specified categories of properties from the payment of land use charge.

Required:
State SIX categories of properties exempted from land use charge.
(12 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Exemptions, Lagos State Tax Law, Land Use Charge, Property Tax
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Lagos State Tax Law, Land Use Charge, Property Tax Relief, Relief Rate
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Lagos State Tax Law, Land Use Charge, Market Value, Property Tax
Level: Level 1

Topic: Taxation of Specialized Businesses
Series: NOV 2020

Question Tag: Lagos State Tax Law

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TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

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Question Tag: Lagos State Tax Law

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TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

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TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses"

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses"

TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses

State six categories of properties exempted from land use charge in Lagos State.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q5b – Taxation of Specialized Businesses"

TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses

Identify which factor does not affect the relief rate under the Land Use Charge Law of Lagos State, 2018.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q16 – Taxation of Specialized Businesses"

TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses

Identify the definition of "market value" under the Land Use Charge Law of Lagos State, 2018.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q15 – Taxation of Specialized Businesses"

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