NIPOST to Replace FIRS as Stamp Duty Collector
Post created on 11:47 am
The Nigerian government on Thursday disclosed that it has replaced the Federal Inland Revenue Service with the Nigeria Postal Service NIPOST as stamp duty collector.
Minister of Communications and Digital Economy, Dr Isa Pantami, made the disclosure at the launch of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps held at the Digital Economy Complex, Mbora, Abuja.
“Our efforts regarding the issue of stamp duty collection with other government Institutions have yielded positive results,” Pantami said.
“NIPOST has been recognised as a government agency with statutory and historical authority to be the producer of stamps and recognised for collection of stamp duties for validation of financial transactions in the country.”
The two government agencies had been engaged at loggerheads over whose responsibility it is to collect the Stamp Duty charge for the government.
Chairperson of NIPOST board Maimuna Abubakar accused the National Assembly and FIRS of overriding NIPOST’s responsibility.
However, the FIRS argued that it is the sole agency of government charged with the responsibility of assessing, collecting, and accounting for all tax types including stamp duties.