FG Stops Stamp Duty Deductions by MDAs   The Federal Government has directed all Ministries, Departments and Agencies (MDAs) to immediately discontinue the deduction of one per cent stamp duty from payments made to contractors, vendors, suppliers and service providers, citing the provisions of the Nigeria...

Senate Demands Full Transparency in Stamp Duty Probe   The Senate has launched a far-reaching investigation into stamp duty collections said to run into trillions of naira, demanding full disclosure from commercial banks, the Central Bank of Nigeria (CBN), the Federal Inland Revenue Service (FIRS), and...

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...