July 01, 2020
The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May.
The FIRS Director, Mr Abdullahi Ahmad, of the Communications and Liaison Department made this known in a statement in Abuja on Tuesday.
He stated that the increment was unprecedented when compared to six billion naira collected from January to May 2019 which represented about 1,000 per cent increase.
Mr Ahmad said:
“The introduction of the FIRS Stamp Duties Adhesive Stamp will, among other things, plug the revenue sink-hole, enable proper accountability and transparency, simplify administration of Stamp Duties and reduce disputes”.
Mr Boss Mustapha, gave the assurance that the collection from stamp duty would be second to oil revenue, as it had the potential to yield up to a trillion Naira if properly harnessed
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