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Stamp Duties

Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

Tax revenue: Non-oil sector increased by 90 percent – FIRS

Despite the national and global economic upheaval caused by the COVID-19 pandemic, the Federal Inland Revenue Service (FIRS) has said the non-oil tax receipts have consistently contributed 75-90 per cent of total tax revenue in recent months due strategic reforms.
Debates on revenue collections from Stamp Duties between Federal Inland Revenue Service (FIRS) and Nigerian Postal Service (NIPOST) was brought to a close as FIRS submitted that it was backed by law to collect stamp duties.

FIRS rakes in N438 billion from non-oil tax in July

The Federal Inland Revenue Service (FIRS) says it has recorded significant increase in collectable tax revenue from the non-oil sector of the economy.
Debates on revenue collections from Stamp Duties between Federal Inland Revenue Service (FIRS) and Nigerian Postal Service (NIPOST) was brought to a close as FIRS submitted that it was backed by law to collect stamp duties.

FIRS: Stamp Duties collection backed by law

Responsibility of stamp duties collection between FIRS and NIPOST was raised at an interactive session on the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) organised by Joint Senate Committees on Finance and National Planning in Abuja on Thursday.
The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN,

Nigerian government to support states recover backlog of stamp duties

The federal government says it is ready to support the 36 states to recover the backlog of stamp duties and generate more revenues for the country.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS generates N3 billion from stamp duty weekly – chief

The Federal Inland Revenue Service (FIRS) generates about N3 billion from stamp duty weekly.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS vows to recover funds in NIPOST’s ‘illegal’ stamp duties’ account

The Federal Inland Revenue Service (FIRS) has expressed its resolve to ensure that all monies collected by the Nigeria Postal Service (NIPOST) into its ‘illegally operated Stamp Duties’ Account’ are fully recovered and remitted into the Federation Account.

NIPOST, FIRS war escalates over stamp duty collection

The imbroglio between Nigeria Postal Service (NIPOST) and the Federal Inland Revenue Services (FIRS) over jurisdiction in respect of stamp duty collection worsened on Tuesday.
A fire incident occurred at the headquarters of the Federal Inland Revenue Service (FIRS) in Abuja on Monday, officials said.

FIRS lists eligible transactions for stamp duty charges

The Federal Inland Revenue Service (FIRS) has given detailed information to guide taxpayers and the general public on rates payable as stamp duty.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS generates N66 billion from stamp duties

The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May.
Stakeholders in the capital market have stressed the need to attract private and domestic capital for funding of critical infrastructure in the country.

Federal government urged to seek domestic capital for infrastructure funding

Stakeholders in the capital market have stressed the need to attract private and domestic capital for funding of critical infrastructure in the country.

NIPOST staff protest ceding of stamp duty collection to FIRS

It was gathered that the current amendment of the Stamp Duty Act by the National Assembly according to the workers Union is being done to allow the FIRS to be the agency collecting stamp duty on electronic transactions.
Nigeria’s Senate on Thursday passed the Finance Bill for the third time.

Senate approves 7.5% VAT increase

The Senate passed the 56 amendments on the 2019 Finance Bill but some senators kicked against the increase in VAT during the presentation and consideration of the report of the Senate Committee on Finance.

Babatunde Fowler: Technology future of tax administration

The Federal Inland Revenue Service (FIRS) has hinged the future of tax administration in Nigeria to technology.

NECA urges federal government to stop stamp duty charges

The Nigeria Employers’ Consultative Association, NECA, has appealed to the Federal Government to stop deducting stamp duty charges from bank customers in the country.

Revenue commission to probe banks over N100 billion stamp duties

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.

FIRS six-month revenue increases 42% to N2.5 trillion

The Federal Inland Revenue Service has announced that it realised a total of N2.5 trillion (N2,529,615,174,601.25) from various taxes from January to June 2018.

VAIDS: No sacred cows after deadline – Babatunde Fowler

As the March 31, 2018, deadline given by the federal government for tax amnesty under its Voluntary Assets and Income Declaration Scheme (VAIDS) draws nearer, the Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has warned that there would be no sacred cows after the cut-off date.

Governor El-Rufai, Femi Adeosun to meet Kaduna business leaders, tax payers over VAIDS

The Governor of Kaduna State, Nasir El-Rufai, and the Minister of Finance, Mrs. Kemi Adeosun, will on Thursday meet with business leaders, business owners and tax payers in Kaduna over the Voluntary Assets and Income Declaration Scheme (VAIDS).

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