FIRS will collect stamp duties – FG

Despite the assurance received from the Senate by SSASCGOC and NIPOST workers that their request to be in charge of sales and collection of stamp duties be handled by NIPOST, as their core mandate, the Minister of Finance Budget and National Planning, said yesterday that the mandate would be carried out by Federal Inland Revenue Service (FIRS).

The Minister of Finance, Budget and National Planning Zainab Ahmed dislosed this while addressing the press in Abuja.

Zainab said, “By the passage of the Finance Bill it will be the Federal Inland Revenue Service that will be collecting the Stamp Duties.”

“It is a revenue for the government, it is a form of tax for every financial transaction that goes on. For example, you send a transfer, you see the bank charges you N50, FIRS is going to be the collection agency, “ she added.

The Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) had in a letter signed by the president of the union comrade Mohammed Yunusa and the general secretary comrade Ayo Olorunfemi, which was credited to President Muhammadu Buhari, the Senate president Ahmed Lawan and the Speaker House of Representatives Femi Gbajabiamila and made available to Daily Trust not TheNigeriaLawyer stated that: “The provisions of Stamp Duties Act Cap S8 Laws of the Federation 2004 and the NIPOST Act Cap N127 LFN 2004, has given the sole power to collect stamp duties to NIPOST.”

Comrade Ayo stressed that it is the ‘core mandate’ of NIPOST to collect stamp duty after which five per cent of what is collected is used for the development of NIPOST infrastructures Nationwide.