FIRS is sole collector of Stamp Duty, says Government

* Nami solicits support for N8.5trn revenue target for 2020

Isola Moses | ConsumerConnect

Following weeks of inter-agency disagreement over which government Ministry, Department and Agency (MDA) has the mandate to collect the charge, the Federal Government of Nigeria has finally ended the controversy over who really will collect Stamp Duty from Nigerian taxpayers.

Reports say that henceforth, the Federal Inland Revenue Service (FIRS) will be the sole collecting agency of Stamp Duty in the country.

Earlier, the Nigeria Postal Service (NIPOST) was reported to have protested to the Minister for Finance, Budget and National Planning, demanding that it be collecting agency of Stamp Duty.

Nonetheless, with the passage of the 2019 Finance Act, the responsibility of being the sole collector of stamp duty now resides with the FIRS.

A statement from Mr. Muhammad Nami, Executive Chairman, Federal Inland Revenue Service, confirmed this Monday.

The Executive Chairman, while in Abeokuta, Ogun State capital, disclosed that “the FIRS is now the sole government agency tasked with the collection of Stamp Duty on behalf of the Federal Government.”

Nami made this disclosure as he launched a national tour of the six geo-political zones to sensitise Nigerians, especially taxpayers, on the provisions in the 2019 Finance Act.

The first leg of the tour started Monday in the South-West where the FIRS boss met Governor Dapo Abiodun of Ogun State and FIRS officials from Ogun, Oyo and Osun States, in Abeokuta.

Dr. Abdullahi Ismaila Ahmad, Director of Communications at FIRS, in a statement, said that Nami solicited the support of the Ogun State Government in meeting the N8.5trillion revenue target set for the Service by the Federal Government in 2020.

“This comes back to the states and local governments as monthly allocations, which states and local governments apply to provide public infrastructure in your respective territories,” he said.

Nami specifically urged Governor Abiodun to work closely with the FIRS to ensure prompt collection and forwarding of withholding tax (WHT) and Value Added Tax (VAT) on contracts, Company Income Tax (CIT) and Stamp Duty, among other forms of tax.