President Muhammadu Buhari came into office in 2015 to find that a law, which stipulated for the collection of a token on banking transactions existed but was not being correctly implemented. This anomaly arose because certain characters apparently formed a cartel with collaborators in the Nigerian Postal Service, NIPOST and were allegedly collecting and pocketing […]
Federal Inland Revenue Service (FIRS) has issued a statement through its Director of Communication and Liason, Abdullahi Ismaila Ahmad, following the faceoff between it and Nigerian Postal Service (NIPOST). It warned Nigerians to be wary of any stamp duty-related operations with NIPOST, Daily Times gathered. Abdullahi said:“The attention of the Federal Inland Revenue Service (FIRS) […]
A total of N66 billion has been generated as stamp duty revenue by the Federal Government between January and June 2020. The Chairman of the Federal Inland Revenue Services, Muhammad Nami, disclosed this during the inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties. Mr Nami while giving a breakdown […]
The Senate on Tuesday at the plenary mandated its Committee on Finance to investigate the issue of more than N20 trillion unremitted Stamp Duties fund due to the Federal Government from banks and other financial institutions. The Senate said that the non-remittance from the financial institutions was through the Nigeria Inter -Bank Settlement Systems (NIBSS), […]
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 […]