Consumers kick as POS Operators Hike Charges   Operators of Point-of-Sale (PoS) terminals raised their charges on Monday in line with the implementation of the Electronic Money Transfer Levy of N50 by the Federal Inland Revenue Services charged on any electronic inflow of N10,000 and above. Several...

Banks to Collect Stamp Duty on Foreign Transactions   Banks are set to charge customers stamp duty on old foreign transactions between January 2021 to December 2023 by January 31, 2024. This is according to a directive from the Federal Inland Revenue Service. Access Bank disclosed this...

Stamp Duty: Presidency Knocks Kazaure Over N89trn Claim   Following controversies trailing a claim of a missing N89.09trn allegedly siphoned from stamp duty charges, the Presidency on Tuesday said such claims were false. It also said the entire banking sector deposits in Nigerian did not amount to...

Senate Probes NNPC’s Alleged Failure To Remit 10-year Stamp Duty       The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. The Committee on Finance, which...

Stamp Duty: Reps Moves To Reconcile NIPOST, FIRS     The House of Representatives, has moved to reconcile the Federal Inland Revenue Service (FIRS) and the Nigerian Postal Services (NIPOST), over stamp duty collection role. The House of Representatives Committee on Finance, on Tuesday held a meeting, chaired...

Stamp Duty: FIRS Orders Landlords, Agents On 6% Charge Remittance     The Federal Inland Revenue Service (FIRS) has called on landlords and property agents to ensure they charge 6 percent Stamp Duty on all tenancy and lease agreements they enter into with all renters and remit...