Muhammad Nami, Chairman FIRS
The Federal Inland Revenue Service (FIRS) has assured that stamp duty will not be collected in arrears from tenants. It also said it should not be collected from tenants by landlords.
The Executive Chairman of the service, Muhammad Nami, disclosed this as part of the planned stamp duty palliatives for tenants.
Mr Nami during the disclosure on a morning show “Your view” on TVC said the Service is working towards the stamp duty palliative package in view of the current economic realities occasioned by COVID-19.
According to a statement by the service spokesperson, Abdullahi Ahmad, Mr Nami said there is never a time when taxation is convenient for everybody to pay.
He, however, urged Nigerians to embrace tax payment “as a patriotic duty to our dear country, Nigeria.”
He also said the FIRS was aware that many taxable Nigerians and businesses in the country were going through difficulties imposed on all by COVID-19. He said it was for that reason that the FIRS has consistently rolled out tax-related palliatives to relieve them of their tax liabilities since the pandemic shut down the Nigerian and global economy.
Mr Nami stressed that contrary to claims in certain quarters, stamp duty is not a creation of the current administration of President Muhammadu Buhari or the current leadership of the FIRS.
“Stamp Duty dates back to colonial times in Nigeria. It has been a form of tax in Nigeria as far back as 1939 when you and I were not yet born. It was codified in our laws in 1953, that is before independence. It was consolidated in 2002, published in 2006, and further reworked into the Stamp Duty Act 2004.