|minister – Ben Peters and his friend currently undergoing prosecution for subsidy fraud, Walter Wagbatsoma, bouncing back to reckoning king of business Femi Otedola, Striving to keep afloat life changing deal boss at Oando Wale Tinubu, the President’s favourite preacher Ayo Oristejafor and others of their ilk.
Information floating in revealed, they moneyed class virtually all with roots of their successes traced to government businesses or officials lobbied hard to limit the taxations to ’just new owners’.
And the success of the campaign enhanced based on reality, some of the key decision makers fall into the category of the about to be affected. They own the about to be taxed luxury properties as private individuals.
‘it was a concerted effort between the wealthy in the system and outside that limited the scope of the introduced increased charges’
A breakdown of the projected revenue from the increased taxation revealed, new private jets would attract a 10% subcharge with an estimated N3.7billion yearly.
Luxury yachts are pegged at 39% with an earmarked N1.6billion yearly.
High end cars are fixed at 5% with a targeted N2.6b per annum.
A Mansion in Abuja valued at N300m and above is primed to attract 1% FCT (Federal Capital Territory) Mansion Tax and is expected to yield a turnover of N360M.
The listed wealthy such as Ben Peters, Watgbasoma and Otedola fall into the category of that already own all the listed tax targeted acquisitions.