NPA, TTP Introduce N50 Stamp Duty on Truck Drivers

The Nigerian Ports Authority, NPA, and the Tucks Transit Parks, TTP, have introduced a mandatory N50.00 stamp duty payment on every N1,000 receipt issued to truck drivers.

In a notice to all stakeholders issue yesterday, the management of TTP said that the NPA has directed TTP to commence the implementation of the directive on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.

The directive, according to TTP, is a policy of the Federal Ministry of Finance issued about two years ago to all Heads Ministries, Department and Agencies.

Part of the notice reads: “ In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular (dated April 19, 2021) directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service (NIPOST).

“Following engagements between the Nigerian Ports Authority (NPA) and NIPOST on the implementation of the circular issued, the NPA has now directed our company, Trucks Transit Parks Limited [TTP], to commence the implementation of the circular on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.

“In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular (dated April 19, 2021) directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service (NIPOST).

“Following engagements between the Nigerian Ports Authority (NPA) and NIPOST on the implementation of the circular issued, the NPA has now directed our company, Trucks Transit Parks Limited [TTP], to commence the implementation of the circular on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.

“The implication of NPA’s directive above for stakeholders in the port environment doing business with TTP is that, from the effective date stated below, all bookings on the eto platform shall now attract a mandatory additional charge of N50.00. In the light of the foregoing, all stakeholders are by this notice, informed that in compliance with the above-mentioned directive of the NPA, TTP would commence implementation of the said directive, from September 1, 2023 (“Effective Date”)”.