For many years now, there has been controversy over who would collect the stamp duty between the Federal Inland Revenue Service (FIRS) and the Nigeria Postal service (NIPOST), the Nigeria Postal Service (NIPOST) had protested to the Minister of Finance demanding that it be collecting agency of stamp duty in the country. The federal government has finally put to rest the controversy, henceforth, the Federal Inland Revenue Service (FIRS) will be the sole collecting agency of stamp duty in the country.

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 the FIRS said Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami in Ogun State on Monday, disclosed that “the FIRS is now the sole government agency tasked with the collection of Stamp Duty on behalf of the Federal Government.”

The FIRS Chairman Mr. Mohammed Nami launched a national tour of the six geo-political zones to sensitize the nation, especially taxpayers, on the 2019 Finance Act on Monday, the first leg of the tour started in the South West where Nami met the Ogun state Governor Dapo Abiodun, as well as FIRS officials from Ogun, Oyo and Osun states, in Abeokuta, the Ogun State Capital.

A statement from the FIRS signed by Director, Communication, FIRS, Dr. Abdullahi Ismaila Ahmad said Nami solicited the support of the Ogun State Government in meeting the N8.5 trillion revenue target set for the Service by the Federal Government.

Nami went on the tour with a select group of top FIRS management staff as well as the Member representing the South West on the FIRS Board, Chief Wale Ogunyomade.

He stressed: “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.”

Also, Nami urged Governor Abiodun to collaborate with the FIRS to ensure prompt collection and forwarding of withholding tax and Value Added Tax on contracts, Company Income Tax as well as Stamp Duty, among others.

SI Magazine

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