NIPOST in charge of adhesive stamps, not stamp duties ― FIRS— 1mins read
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THE Federal Inland Revenue Service (FIRS) has said that the Nigeria Postal Service (NIPOST) has not been licensed for the collection of stamp duty charges.
FIRS, in a statement signed by its executive chairman Muhammad Nami, on Tuesday, said communications minister Isa Patanmi was earlier misquoted on the subject.
“The Honourable Minister was misquoted as saying that administration of Stamp Duty was granted to NIPOST by the Finance Act 2020. The speech attributed to the Honourable Minister was definitely quoted out-of-context,” Nami said in a post on FIRS Twitter handle on Tuesday.
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He stated that what the minister meant was that NIPOST would produce adhesive stamps required by FIRS to denote stamp duties, adding that the statement was in line with “S.2 of the Stamp Duties Act (as amended by Section 46 of the Finance Act 2020).”
Nami, however, urged taxpayers, tax practitioners and the general public to ignore the earlier information in circulation, saying it was an unfortunate attempt to cause confusion.
“FIRS therefore urges Taxpayers, Tax practitioners and the general public to ignore this unfortunate attempt to cause confusion by twisting the Honourable Minister’s speech.
“The Honourable Minister for Communications and Digital Economy is a patriot whose passion for the rule of law and Nigeria is never in doubt,” he said.