FIRS Still in Charge of Stamp Duties Collection–Official

FIRS Still in Charge of Stamp Duties Collection–Official

The Federal Inland Revenue Service (FIRS) says it is still in charge of Stamp Duties collection in the country.

The FIRS Director, Communications and Liaison, Mr. Abdullah  Ahmad, made this known in a statement in Abuja on Tuesday.

Ahmad urged the general public to dismiss news reports which claimed that the Finance Act 2020 had stripped the FIRS of Stamp Duty collection functions on behalf of the Federal Government.

“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.

“The speech attributed to the Honourable Minister was definitely, and unfortunately, quoted out of context.

“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 FIRS, therefore, urges taxpayers, tax practitioners and the general public to ignore this unfortunate attempt to cause confusion by twisting the Honourable Minister’s speech.

“The Honourable Minister for Communications and Digital Economy, Dr. Isa Pantami, is a patriot with unarguable passion for the rule of law and stability of the country.

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“The FIRS remains the only federal agency permitted by law to collect Stamp Duties on behalf of the Federal Government of Nigeria,” he said.

The spokesperson of the Service urged all taxpayers to continue to pay their Stamp Duties charges to the FIRS nationwide.

FIRS still in charge of Stamp Duties Collection–Official