Nigeria: Nipost Tackles FIRS Over Stamp Duty Collection

The Nigerian Postal Service has again tackled the Federal Inland Revenue Service over who has the exclusive right to Stamp Duty collection.

Both agencies have been laying claims to Stamp Duty collection since 2019.

The FIRS had said the Finance Act 2019 conferred on it the exclusive right to collect stamp duty on behalf of the Federal Government.

But NIPOST countered this by saying the Act contains some "contradictions", which should be addressed by appropriate authorities.

The postal agency said the Office of the Accountant-General had also issued a circular to NIPOST on the collection of both physical and electronic stamp duty of N50, maintaining that there is no conflict between NIPOST and FIRS in the collection of stamp duty.

NIPOST, in a statement on Sunday, insisted that its statutory powers confer on it the right to print, mint, produce, retail, and provide adhesive postage stamp for the use of Nigerians.

The postal agency said it is statutorily empowered to collect stamp duty and it would not give up its right on it.

It would be recalled that the Minister of Finance, Budget and National Planning, Hajiya Zaynab Ahmed announced in December that FIRS will automatically become an agency to collect the Stamp Duty following the passage of the 2019 Finance Bill by the National Assembly which contains an amendment to Stamp Duty Act.

More From: Daily Trust

Don't Miss

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.