STAMP DUTY ADMINISTRATION IN NIGERIA -PART 3

Hello,

Have you started keeping up to date with stamp duties now? If you haven’t read up on our first two posts on this topic here and here.

Today, I will be sharing about the consequences of not paying the stamp duty and other things.

Consequences of not stamping

  1. The underlying document will not be admissible in evidence in any civil proceedings in a court in Nigeria.
  2. Attract prescribed penalties under the SDA or the FIRS Establishment Act.

Instruments liable to Stamp Duties 

  1. All written or printed dutiable instruments or receipts.
  2. All electronic dutiable instruments or receipts (i.e. in the form of electronic media content, electronic documents or files, e-mails, short message service (SMS), instant messages (IM), any internet-based messaging service, website or cloud-based platform etc).
  3. All printed receipts (including POS receipts, fiscal device receipts, Automated Teller Machine (ATM) print-outs and other forms of written or printed acknowledgment) .
  4. All electronically generated receipts and any form of electronic acknowledgement of money for dutiable transactions

Hello,



Consequences of not stamping

  1. The underlying document will not be admissible in evidence in any civil proceedings in a court in Nigeria.
  2. Attract prescribed penalties under the SDA or the FIRS Establishment Act.

Instruments liable to Stamp Duties 

  1. All written or printed dutiable instruments or receipts.
  2. All electronic dutiable instruments or receipts (i.e. in the form of electronic media content, electronic documents or files, e-mails, short message service (SMS), instant messages (IM), any internet-based messaging service, website or cloud-based platform etc).
  3. All printed receipts (including POS receipts, fiscal device receipts, Automated Teller Machine (ATM) print-outs and other forms of written or printed acknowledgment) .
  4. All electronically generated receipts and any form of electronic acknowledgement of money for dutiable transactions

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