Bar Nyesom Wike has just put the FCT on a development trajectory that is in tandem with the rest of the world. The owner of a property or occupier of a lease of less than ten years is liable to pay Land Use Charge in respect of a taxable properly.
The Occupier holding a lease of ten years and above is liable to pay Land Use Charge in respect of any taxable Property. The holder of a certificate of occupancy is deemed to have accepted the terms and conditions attached to it, which are enforceable against himself and his successors in title. These include:
•Payment of penal rent for breaching any covenant or condition such as failing to effect improvements on the land or alienating the land or any part thereof without the consent of the governor. )