Property Sellers, Not Buyers Must Pay Capital Gains Tax – Imo Govt

Cotality released its latest "Pain and Gain" report, showing the gains and losses of property sellers across the country. Nearly one in ten residential properties were sold for less than the seller paid.

Property Sellers, Not Buyers Must Pay Capital Gains Tax – Imo Govt

The Executive Chairman of the Imo State Internal Revenue Service (IIRS), Justice R. Okoye, has emphasized that the responsibility for paying Capital Gains Tax lies with the sellers of property, and not the buyers. Okoye stated this during a courtesy visit to the Ministry of Lands, emphasising the importance of collaboration between the IIRS and Imo State Ministry of Lands to boost revenue generation and prevent the use of fake receipts in land d…