Section 135 Nigeria Tax Act 2025

Section 135 of the Nigeria Tax Act 2025 is about Leases. It provides as follows:

An agreement for a lease, with respect to the letting of land or building, shall be subject to duty on grant of a lease or sublease, or the assignment of a lease, and shall be charged with the same duty as if it were an actual lease made for the term and consideration mentioned in the agreement, provided that lease agreements for which the annual value is less than 10,000,000 or 10 times the annual minimum wage, whichever is higher, shall not be chargeable with any duty under Chapter Five of this Act.