Breaking News

FG Generates N66bn As Stamp Duty Revenue Within Six Month – FIRS

Published

4 years ago

Jul 1, 2020.

The Federal Government says it has generated as stamp duty revenue a total of N66 billion between January and June 2020.

Confirming this report into the inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties, the Chairman of the Federal Inland Revenue Services, Muhammad Nami, the Finance Act has mandated the revenue agency as the sole body to receive stamp duties for the country.

While giving the breakdown of the revenue, he explained: “we have collected and remitted from money deposit banks in this year alone, a total of N20 billion. From Stamp Duties Revenue from stamping of instruments at CAC, we have realised about 7.9 billion.

“The amount now remitted as at the point I was appointed, stood at 39 billion. So, total stamp duty remitted, into federation account from January 2020 to June (as at yesterday) stood at N66 billion.”

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