Nigerians to Begin Paying N50 Stamp Duty On Electronic Receipts, Notifications-FIRS

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The Federal Inland Revenue Service (FIRS) has announced that Nigerians will begin to pay charged on electronic receipts and notification.

The agency responsible for assessing, collecting, and accounting for tax and other revenues has noted that the charge as #50.

Subsequently, Nigerians begin payment of charged stamp duties on all forms of electronic notifications including SMS and messages on any electronic platform such as emails and WhatsApp messages.

This new development contained in a circular signed FIRS’ Chairman, Muhammad Nami via the agency official site.

The circular highlighted that all receipts, either printed or electronically generated, or any form of electronic acknowledgment of money transactions, will attract the stamp duty of N50.

It added that the FIRS is the only body authorized to collect stamp duties and that the instruments are subject to charge.

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The instruments listed in the circular, include; fixed duty instruments such as Power of Attorney, Certificate of Attorney, Proxy forms, Appointment of receivers, Memorandum of Understanding, Joint Venture Agreements, Guarantors form, Ordinary agreements, and Receipts.

 

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