Tenants to receive 20 per cent relief on N500,000 annual rent, says CITN

The Chartered Institute of Taxation (CITN) has thrown its weight behind the new tax regime, saying that it provides a 20 per cent relief on annual rent paid, capped at N500,000.
At a tax awareness campaign in Abuja, the President of CITN, Innocent Ohagwa, added that essential goods and services such as food, education, healthcare, electricity transmission and non-oil exports had been granted zero-rated Value Added Tax (VAT) treatment, reducing household burdens and supporting economic activity.
He noted that compensation for loss of employment or personal injury now enjoyed higher exemption thresholds, ensuring stronger financial protection.
For businesses, especially small enterpri...