Yesterday, the Association of Senior Civil Servants of Nigeria commended the Federal Inland Revenue Service (FIRS) for considerably boosting Federal Government’s revenue via stamp duty collection of N66 billion within five months. This is even as it praised the members of the union in the agency throughout the country for their dedication to duty.
The Secretary-General of the union, Alade Bashir Lawal, stated that it was quite remarkable that within the first five months of this year, the FIRS remitted N66 billion generated from Stamp Duty collection to the Federation Account. The union posited that when juxtaposed with the N18 billion realised from Stamp Duty collection between January and December 2019, the N66 billion raked in from January to May 2020 would be recognised as a rare feat indeed and a clear testimony that the FIRS management team was discharging its duties creditably.
“It is against this background that we urge the Presidency, the management team of the FIRS itself, and the general public to disregard the grandstanding and disinformation being propagated by failed experts including rabble rousers masquerading as trade unionists trying to disparage the high profile performance of the revenue Agency. “Indeed, these retrogressive elements desperately seeking relevance and public attention should be declared persona non-grata in a strategic organ of the Federal Government such as the FIRS,” the union emphasized.
According to the ASCSN, Section 4(1) of the Stamp Duty Act, vests the FIRS with sole authority to impose, charge and collect Stamp Duties upon instruments specified in the schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual, group or body of individuals. “The relevant tax authority in a state, by Section 4(2) of the Stamp Duties Act, is empowered to collect Stamp Duties on instruments executed by individuals at such rate as may be determined by the Act.
Source: The Sun