ANSG to begin operation stamp duty regime
Anambra State Government is to begin operation Stamp Duty regime as part of state’s effort at diversifying the economy in order to boost Internally Generated Revenue (IGR).
According to the state government, the state is exploring revenue opportunities available to it without fleecing the citizenry.
It was in recognition of this that Governor Willie Obiano signed the Stamp Duties Act, CAP S8, LFN 2004, into law on October 17, 2016 thereby re-enacting the law.
The law aims at ensuring that all contract agreements executed within the state would be duly stamped at the Stamp Duty’s Office located at the Anambra State Internal Revenue Service, Head Office Complex, Revenue House (AIRS), Awka.
The law also stipulates that all transactions within the state must be stamped as the state government would collect duties in respect of instruments executed between persons or individuals at such rates to be imposed or charged and agreed to with the Federal Government.
Ndi Anambra would by this notice be asked to comply with the directive.
Speaking during the inauguration, which was held at Professor Dora Akunyili Women Development Centre, Governor Willie Obiano represented by his Deputy, Dr. Nkem Okeke, said the introduction of the stamp duties office and revenue are part of the various reforms being engaged by the present administration to improve tax payment and revenue generation in Anambra State.
This, he said, is being guided by the vision of the government to making the state the first choice investment destination and hub for industrialization and other commercial activities.
Governor Obiano said that the replacement of the manual stamp duty with the robust automated stamp duty is aimed at encouraging integrity and improving the speed of tax payment processes.
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He pointed out that an efficient and automated revenue administration will close the gap created by the dwindling oil revenue and enhance the state’s resolve to diversify its revenue base.
The Governor called on all to adhere to taxation laws in order to make the state better, as according to him, the actualisation of the vision of the government in providing the residents with quality education, reliable security network, good infrastructure, among others, would be made possible through total compliance of the people to tax payment laws.
