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STAMP DUTY ADMINISTRATION IN NIGERIA -PART 3

Instruments liable to Stamp DutiesĀ 

All written or printed dutiable instruments or receipts.
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).

STAMP DUTY ADMINISTRATION IN NIGERIA-Part 2

Stamp duty is basically charged in two forms, either ad valorem; where duty payable is a percentage calculated based on the consideration on instrument or a fixed sum also called Nominal, irrespective of the consideration on dutiable instrument or the documents.

STAMP DUTY ADMINISTRATION IN NIGERIA

The Federal Inland Revenue Service is the competent authority to impose, charge and collect Stamp duties upon instruments specified in the Schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual, group or body of individuals S.4(1).