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Stamp Duty: FG Replaces FIRS With NIPOST
- Nigerian government on Thursday revealed that it has replaced the Federal Inland Revenue Service (FIRS) with the Nigeria Postal Service (NIPOST) as stamp duty collector.
- The two government agencies had been at loggerheads over whose responsibility it is to collect the Stamp Duty charge for the government
Nigerian government on Thursday revealed that it has replaced the Federal Inland Revenue Service (FIRS) with the Nigeria Postal Service (NIPOST) as stamp duty collector.
The Minister of Communications and Digital Economy, Dr Isa Pantami, disclosed this at the launch of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps held at the Digital Economy Complex, Mbora, Abuja.
According to him, “Our efforts regarding the issue of stamp duty collection with other government Institutions have yielded positive results.”
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.”
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The two government agencies had been 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.
Abubakar said NIPOST is the agency saddled with the responsibility of printing and providing postage stamps for payment of postage tariff and payment of stamp duties by decree No. 18 of 1987
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.
The announcement by Pantami is expected to end controversy of over three years over the claims of ownership of stamp duty collections in the country between the two Federal Agencies.
Pantami praised the management of NIPOST and other stakeholders for their resilience, saying it was heartwarming that critical stakeholders ensured that justice was done on the issue.
He said challenges of regulation; policy and financing confronting NIPOST over the years are being addressed with a view to placing the Agency on a platform that would enable it to generate revenue for the Federal Government.
He said NIPOST would be unbundled into three companies to boost its operations, while efforts are on the pipeline for Federal Executive Council to approve the renovation and rehabilitation of all its dilapidated offices across Nigeria.
(Source: Guardian)
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