Foundation plans masterclass on Tax in Real Estate for professionals
Real estate professionals will be the focus of a one-day masterclass on tax in real estate to be hosted by the Roland Igbinoba Real Foundation for Housing and Urban Development (RIRFHUD) in collaboration with top real estate experts.
This masterclass, to be held across four locations, including Lagos, Abuja, Enugu and Port Harcourt, will provide deep insights into the newly enacted Nigerian Tax Administration (NTA) Act and its implications for the real estate and housing finance sectors.
The theme of the masterclass, according to the foundation, is ‘Understanding Tax in Real Estate: Navigating the New NTA Act Era.’ Its highlights include a comprehensive breakdown of the NTA Act and its impact on the real estate value chain
Others include practical sessions on VAT, Capital Gains Tax, Stamp Duty, and Withholding Tax across the real estate value chain, as well as case studies and group exercises on real-world real estate transactions in Nigeria.
The event will also feature sector breakout discussions for developers, financiers, investors, construction companies, building materials suppliers, sustainable and green developments, and proptech firms
Other features are the presentation of a curated real estate tax compliance toolkit by RIRFHUD, and networking opportunities with key industry leaders and regulators.
Roland Igbinoba, FIRFHUND’s CEO, told BusinessDay that the audience includes developers, construction companies, mortgage banks, commercial banks, investors, proptech firms, analysts, mall owners, REIT managers, facility managers, and regulators.
“The format of the masterclass is physical, and the resources will be a real estate tax toolkit to be handed to participants,” Igbinoba said, disclosing that the masterclass will be hosted in the company of the President of REDAN, while he will deliver the keynote speech on ‘Why the NTA Matters for Real Estate and Housing Finance.’
According to him, participants will gain insights into key provisions affecting real estate: VAT on land/property transactions; capital gains tax on disposals; stamp duties on leases and mortgage agreements, withholding tax on contractors, tax incentives for REITs and affordable housing, compliance timelines and penalties, and tax on real estate technology platforms and businesses.
