The Federal Inland Revenue Service (FIRS) Tuesday, cut short the celebration of the Nigeria Postal Service (NIPOST), that the Finance Act 2020 has stripped the tax agency of stamp duty collection functions for the Federal Government.
The FIRS debunked the insinuations in a statement by its Director, Communications and Liaison, Abdullahi Ismaila Ahmad. The statement noted that some print and electronic/social media platforms had misquoted a recent speech by the Minister for Communications and Digital Economy on the administration of stamp duty in the country.
“For the avoidance of confusion arising from such publications, the FIRS hereby informs the general public, especially taxpayers, that the Minister was misquoted as saying that the administration of Stamp Duty was granted to NIPOST by the Finance Act 2020. The speech attributed to the Minister was definitely, and unfortunately, quoted out of context.
For the record, the Minister merely stated that NIPOST would henceforth produce the Adhesive Stamps required by FIRS to denote Stamp Duty.