The Federal Inland Revenue Service (FIRS) has insisted that it is still in charge of stamp duties collection, reacting to reports that NIPOST has reclaimed stamp duty collection from FIRS.
This was disclosed in a statement by FIRS Director, Communications and Liaison, Mr Abdullahi Ahmad in Abuja on Tuesday.
FIRS said that the Minister of Communication was misquoted when he said NIPOST has reclaimed Stamp Duty collection from FIRS.
READ: Nigeria’s records 6.1 percent tax to GDP as tax base for VAT rise to N23.7 trillion
“The attention of FIRS has been drawn to false publications in some newspapers and electronic as well as social media platforms misquoting a recent speech by the Minister for Communications and Digital Economy on the administration of Stamp Duties in the country.
“For the avoidance of confusion arising from such publications, the FIRS hereby informs the general public, especially taxpayers, that the Minister was misquoted as saying that the administration of Stamp Duty was granted to NIPOST by the Finance Act 2020.
“For the record, the Honourable Minister merely stated that NIPOST would henceforth produce the ADHESIVE STAMPS required by FIRS to denote Stamp Duties.
“This position is in line with Section 2 of the Stamp Duties Act (as amended by Section 46 of the Finance Act 2020),” the revenue collecting agency said.
FIRS urged taxpayers, tax practitioners and the general public to ignore the “unfortunate attempt to cause confusion by twisting the Minister’s words”, as it remains the only federal agency permitted by law to collect Stamp Duties on behalf of the Federal Government of Nigeria.
READ: CBN holds N43 billion stamp duty charges from banks – FG
What you should knowÂ
- The Minister of Communications and Digital Economy, Dr Isa Pantami disclosed last week that Nigeria Postal Service (NIPOST) has reclaimed the collection of stamp duty charges from the Federal Inland Revenue Service (FIRS).
- It can be recalled the disagreement between NIPOST and the FIRS over who should control the collection of stamp duty became public after the latter reacted to claims by NIPOST that it is operating an illegal stamp duty account.
- NIPOST, however, denied the accusation saying that the statement is false and was made to misinform and mislead members of the public.
- Pantami had earlier thrown his weight behind NIPOST, when he faulted the decision of the Federal Inland Revenue Service (FIRS) to collect stamp duty which he insisted is the sole responsibility of NIPOST.
- The Accountant General of the Federation, Ahmed Idris had earlier stated that the issues between NIPOST and FIRS, related to stamp duties have not been completely settled and that the AGF’s office will broker peace between the two organizations.
