The Minister of the Federal Capital Territory, NYESOM WIKE, has approved a
draft property tax regulation for the city.
The development means that property owners in Abuja would start paying property
taxes.

The FCT-Internal Revenue Service is said to have commenced the implementation
of Capital Gains Tax in the FCT, as stipulated in the Capital Gains Tax Act 2004,
which mandates the payment of ten per cent tax on the total amount of chargeable
gains accruing to any person on the disposal of chargeable assets in a year of
assessment.

The Executive Chairman, FCT-IRS- HARUNA ABDULLAHI, made this
disclosure while addressing journalists in Abuja on Sunday and noted that the
minister has approved some key initiatives to drive revenue for the federal capital
territory.