Stamp Duty

The Ministry of Communication and Digital Economy, has called for the establishment of an independent regulator for effective operations of the Nigerian Postal Service (NIPOST).

The Chairman of Economic and Financial Crimes Commission, Abdulrasheed Bawa, on Thursday disclosed that the anti-graft agency last week recovered over N1 billion cash sitting in one bank account from a civil servant.

The Senate has summoned the Auditor-General of the Federation (AuGF), Mr Aghughu Arhotomhenia, over the non-audit of the financial records of the Nigerian Immigration Service (NIS) in the last five years.

Ali Isa Pantami, the minister of communications and digital economy, says the Nigerian Postal Service (NIPOST) is the legal producer of stamp duties through the 2020 Finance Act.

Senate Committee of Finance says it will begin its investigation of revenue-generating Ministries, Departments and Agencies (MDAs) from March 10, to determine their compliance with laws of remittance of internally generated revenue since 2014.

British finance minister Rishi Sunak is expected to delay plans for tax rises until late this year, The Times newspaper reported on Friday, citing a senior government source.

The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

The Federal Government says its Social Housing Programme, one of the components of the National Economic Sustainability Plan (NESP), is targeted at low income earners.

The Federal Inland Revenue Service (FIRS) on Thursday urged tax payers to take advantage of its E- Service platforms for the remittance of taxes and other tax related inquiries.

Thirty prominent professional bodies under the aegis of the Association of Professional Bodies of Nigeria (APBN) yesterday urged the federal government to immediately overhaul the country’s security apparatus, saying the situation had largely deteriorated in recent months.

Governors of the thirty six states under the aegis of the Nigeria Governors Forum, NGF have resolved to meet with President Muhammadu Buhari to address the security challenges with continued cases of armed banditry, terrorism and kidnapping across the country.

Governors of the thirty-six states of the country under the aegis of the Nigeria Governors Forum, NGF will be meeting tomorrow, with evolving a new national security order that will ensure the safety of lives and property nationwide topping the agenda.

Between 2004 and 2012, Ifueko Omogui Okauru led a revolutionary campaign in the Federal Inland Revenue Service (FIRS). Under her leadership during the period, FIRS witnessed extensive reforms and fundamental transformation.

Nigeria’s inflation climbed to 14.23 percent in October, 2020 according to National Bureau of Statistics (NBS) report on consumer price index, released on Monday.Nigeria’s inflation climbed to 14.23 percent in October, 2020 according to National Bureau of Statistics (NBS) report on consumer price index, released on Monday.

The Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, at the weekend revealed that the Nigerian Navy generated over N884 million in 2020 as its internally generated revenue, (IGR).

The Nigerian Governors Forum will on Wednesday (today) hold its 16th teleconference meeting where the governors would discuss the N1 billion Federal Government support to 32 states and the controversy surrounding the stamp duty collections/recovery.

The Minister of Communications and Digital Economy, Dr Isa Ali Pantami, has disclosed that he has written to President Muhammadu Buhari over the Stamp Duty dispute between the Nigeria Postal Service (NIPOST), a subsidiary of his ministry, and the Federal Inland Revenue Service (FIRS).

The Federal Inland Revenue Service (FIRS) generates about N3 billion from stamp duty weekly.

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.

An ex-Chairman of the Ikeja Branch of the Nigerian Bar Association (NBA), Mr Adesina Ogunlana, has said that he was wrongly barred from contesting the association’s national elections which held on Wednesday and yesterday.

The Federal Inland Revenue Service (FIRS) has assured that stamp duty will not be collected in arrears from tenants. It also said it should not be collected from tenants by landlords.

The Federal Inland Revenue Service (FIRS) says it is working on a stamp duty palliative package for tenants in view of the current economic realities occasioned by COVID-19.