SAN FRANCISCO, February 17, (THEWILL) – The federal government has shocked the Nigeria Postal Service, NIPOST, which had positioned to be collecting stamp duty. Instead, government has appointed the Federal Inland Revenue Service (FIRS) as the sole collecting agency of stamp duty nationwide.
The management of NIPOST had put up a solid fight and argument insisting that collection of stamp duty was within its purview.
However with the passage of the 2019 Finance Act, the responsibility of being the sole collector of stamp duty now resides with the FIRS.
A statement from the FIRS said Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, confirmed this on Monday in Ogun State.
“The FIRS is now the sole government agency tasked with the collection of Stamp Duty on behalf of the Federal Government.”
He made this disclosure as he launched a national tour of the six geo-political zones to sensitize the nation, especially taxpayers, on the 2019 Finance Act.
The first leg of the tour started on Monday in the South West where Nami met the Ogun Governor Dapo Abiodun, as well as FIRS officials from Ogun, Oyo and Osun states, in Abeokuta, the Ogun State Capital.
Nami went on the tour with a select group of top FIRS management staff as well as the Member representing the South West on the FIRS Board, Chief Wale Ogunyomade.
A statement from the FIRS signed by Director, Communication, FIRS, Dr. Abdullahi Ismaila Ahmad said Nami solicited the support of the Ogun State Government in meeting the N8.5 trillion revenue target set for the Service by the Federal Government.
“This comes back to the states and local governments as monthly allocations, which states and local governments apply to provide public infrastructure in your respective territories.”
Specifically, Nami urged Governor Abiodun to work closely with the FIRS to ensure prompt collection and forwarding of withholding tax and Value Added Tax on contracts, Company Income Tax as well as Stamp Duty, among others.