The Conundrum and Legality of Stamp Duties Collection in Nigeria

Abdulhamid Ellawule

doi:10.52589/AJAFR/BLSV21X1

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The Conundrum and Legality of Stamp Duties Collection in Nigeria

African Journal of Accounting and Financial Research

Vol. 4Issue 22021pp. 11–25Published 27 April 2021

DOI 10.52589/AJAFR/BLSV21X1

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Abstract:

The dwindling oil revenue to Nigeria necessitated the need to improve revenue generation. The Stamp Duties is seen as “a new gold”, however, the crisis between the FIRS and NIPOST might pose a threat. The study examined the provisions of the Stamp Duties Act and some relevant laws to ascertain the agency with the jurisdiction to collect and administer duties in Nigeria. It was found that FIRS has the authority to manage and administer duties and other taxes in Nigeria and not NIPOST. It was recommended that tax laws should be harmonised and postage stamps and stamp duties should be clearly defined to avoid ambiguity

Keywords:Stamp Duties FIRS NIPOST

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Copyrights

Authors retain copyright in their articles and have unrestricted rights to reuse, republish, archive, share, and distribute their work after publication.
All articles are published open access under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence, which permits use, sharing, adaptation, distribution, and reproduction in any medium or format, including for commercial purposes, provided appropriate credit is given to the original author(s) and source.