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  •  The National Agency for Science and Engineering Infrastructure NASENI has installed its branded disinfectant sprayer at the Federal Inland Revenue Service FIRS headquarters to boost the fight against COVID 19 pandemic Speaking at the installation on Thursday in Abuja Prof Mohammed Haruna Executive Vice Chairman and Chief Executive of NASENI said that home grown technology was employed to manufacture the sprayer Haruna handing over the new installed hybrid disinfectant sprayer to the Executive Chairman of FIRS Mr Muhammad Nami expressed appreciation to FIRS for the confidence reposed on NASENI The device is fitted with temperature sensor if somebody s temperature is above normal it will blow siren and alert that this man does not need to enter With this you have prevented the spread of the virus and I assure you this will work very well This safety tunnel disinfects individuals as they enter your premises with this in place and the virological resolve we have you can be sure nobody is bringing in virus to your premises he said The NASENI boss however explained that the hybrid disinfectant sprayer in form of tunnel was not designed to cure infected persons Also the safety tube could disinfect clothes or bodies with virus to prevent conveyance and spread of the disease within the protected premises he said Nami while receiving the newly installed disinfectant sprayer commended NASENI for the innovation and stressed the need for inter agency collaboration According to him the patronage of NASENI product will strengthen collaboration between the two agencies of the Federal Government The essence of patronising NASENI is to encourage agency to agency collaboration we have people that produce this some are even imported We feel we should patronise our sister agency that we feel can even do better than the one marketed to us Secondly the safety of our staff is key because as you always hear from the monthly FAAC allocation meeting FIRS today contributes over 70 per cent of the revenue being shared The safety of personnel therefore becomes priority for the current management so we appreciate NASENI that when we came knocking you answered us We pray that this COVID 19 will disappear and my staff will be able to collect revenue that is needed considering fall in oil prices and dwindling fortunes from other sectors of our economy Nami said He said that the NASENI hybrid safety tunnel would be installed in FIRS offices in Lagos Kano Port Harcourt and Kaduna among others In an interview with the News Agency of Nigeria Ibrahim Abdulmalik staff of NASENI Hydraulic Equipment Development Institute said that the installation of disinfectant sprayers at FIRS state offices would commence before end of July FIRS is collaborating with us to mass produce this equipment for all its centres across the country As from next week installation of the equipment will be done in other FIRS zonal offices Abdulmalik said Edited By Folasade Adeniran Oluwole Sogunle NAN
    Coronavirus: NASENI installs disinfectant sprayers at FIRS
     The National Agency for Science and Engineering Infrastructure NASENI has installed its branded disinfectant sprayer at the Federal Inland Revenue Service FIRS headquarters to boost the fight against COVID 19 pandemic Speaking at the installation on Thursday in Abuja Prof Mohammed Haruna Executive Vice Chairman and Chief Executive of NASENI said that home grown technology was employed to manufacture the sprayer Haruna handing over the new installed hybrid disinfectant sprayer to the Executive Chairman of FIRS Mr Muhammad Nami expressed appreciation to FIRS for the confidence reposed on NASENI The device is fitted with temperature sensor if somebody s temperature is above normal it will blow siren and alert that this man does not need to enter With this you have prevented the spread of the virus and I assure you this will work very well This safety tunnel disinfects individuals as they enter your premises with this in place and the virological resolve we have you can be sure nobody is bringing in virus to your premises he said The NASENI boss however explained that the hybrid disinfectant sprayer in form of tunnel was not designed to cure infected persons Also the safety tube could disinfect clothes or bodies with virus to prevent conveyance and spread of the disease within the protected premises he said Nami while receiving the newly installed disinfectant sprayer commended NASENI for the innovation and stressed the need for inter agency collaboration According to him the patronage of NASENI product will strengthen collaboration between the two agencies of the Federal Government The essence of patronising NASENI is to encourage agency to agency collaboration we have people that produce this some are even imported We feel we should patronise our sister agency that we feel can even do better than the one marketed to us Secondly the safety of our staff is key because as you always hear from the monthly FAAC allocation meeting FIRS today contributes over 70 per cent of the revenue being shared The safety of personnel therefore becomes priority for the current management so we appreciate NASENI that when we came knocking you answered us We pray that this COVID 19 will disappear and my staff will be able to collect revenue that is needed considering fall in oil prices and dwindling fortunes from other sectors of our economy Nami said He said that the NASENI hybrid safety tunnel would be installed in FIRS offices in Lagos Kano Port Harcourt and Kaduna among others In an interview with the News Agency of Nigeria Ibrahim Abdulmalik staff of NASENI Hydraulic Equipment Development Institute said that the installation of disinfectant sprayers at FIRS state offices would commence before end of July FIRS is collaborating with us to mass produce this equipment for all its centres across the country As from next week installation of the equipment will be done in other FIRS zonal offices Abdulmalik said Edited By Folasade Adeniran Oluwole Sogunle NAN
    Coronavirus: NASENI installs disinfectant sprayers at FIRS
    General news2 years ago

    Coronavirus: NASENI installs disinfectant sprayers at FIRS

    The National Agency for Science and Engineering Infrastructure (NASENI) has installed its branded disinfectant sprayer at the Federal Inland Revenue Service (FIRS) headquarters, to boost the fight against COVID-19 pandemic.

    Speaking at the installation on Thursday in Abuja, Prof. Mohammed Haruna, Executive Vice Chairman and Chief Executive of NASENI, said that home-grown technology was employed to manufacture the sprayer.

    Haruna, handing over the new installed hybrid disinfectant sprayer to the Executive Chairman of FIRS, Mr Muhammad Nami, expressed appreciation to FIRS for the confidence reposed on NASENI.

    “The device is fitted with temperature sensor; if somebody’s temperature is above normal, it will blow siren and alert that this man does not need to enter.

    “With this, you have prevented the spread of the virus and I assure you this will work very well.

    “This safety tunnel disinfects individuals as they enter your premises; with this in place and the virological resolve we have, you can be sure nobody is bringing in virus to your premises,” he said.

    The NASENI boss, however, explained that the hybrid disinfectant sprayer in form of tunnel was not designed to cure infected persons.

    “Also, the safety tube could disinfect clothes or bodies with virus, to prevent conveyance and spread of the disease within the protected premises,” he said.

    Nami, while receiving the newly installed disinfectant sprayer, commended NASENI for the innovation and stressed the need for inter-agency collaboration.

    According to him, the patronage of NASENI product will strengthen collaboration between the two agencies of the Federal Government.

    “The essence of patronising NASENI is to encourage agency-to-agency collaboration; we have people that produce this, some are even imported.

    “We feel we should patronise our sister agency that we feel can even do better than the one marketed to us.

    “Secondly, the safety of our staff is key because, as you always hear from the monthly FAAC allocation meeting, FIRS today contributes over 70 per cent of the revenue being shared.

    “The safety of personnel, therefore, becomes priority for the current management; so, we appreciate NASENI that when we came knocking, you answered us.

    “We pray that this COVID-19 will disappear and my staff will be able to collect revenue that is needed, considering fall in oil prices and dwindling fortunes from other sectors of our economy,” Nami said.

    He said that the NASENI hybrid safety tunnel would be installed in FIRS offices in Lagos, Kano, Port-Harcourt and Kaduna, among others.

    In an interview with the News Agency of Nigeria , Ibrahim Abdulmalik, staff of NASENI Hydraulic Equipment Development Institute, said that the installation of disinfectant sprayers at FIRS state offices would commence before end of July.

    FIRS is collaborating with us, to mass produce this equipment for all its centres across the country.

    “As from next week, installation of the equipment will be done in other FIRS zonal offices,” Abdulmalik said. 

    Edited By: Folasade Adeniran/Oluwole Sogunle (NAN)

  •  The Federal Inland Revenue Service FIRS has asked landlords and property agents to charge six per cent Stamp Duty on all tenancy and lease agreements they enter into with all leasees and remit same promptly to the Service Mr Abdullahi Ahmad Director Communications and Liaison Department of the service made this known in Abuja on Wednesday Ahmad said doing so was necessary so that they would not run foul of the Stamp Duty Act He said the admonition came following the recent release and wide circulation of a stamp duty clarification guide by FIRS Executive Chairman Mr Muhammad Nami He stated that property related transactions like tenancy or lease agreement fell under the Ad Valorem category of the stamp duty which attracted six per cent duty payable in percentage of the total value or sum of the tenancy or lease According to FIRS the burden of payment of the six per cent lies on the beneficiary of the tenancy or lease agreement whom the Stamp Duty Act identified as the tenant or renter Also the responsibility of collection and remittance fall on the landlord or agent in charge of the property for lease or rent In any case the party making the payment shall have the obligation to account for the applicable stamp duties Some other Stamp Duty types and their rates are Appraisement or Valuation of Property 1 5 per cent Certificate of Occupancy Partnership N1 000 flat rate Gift of Land 1 5 per cent Legal Mortgage 0 375 per cent Legal Mortgage Upstamping and 0 375 per cent Others are deed of Conveyance or Transfer on Sale of Property 1 5 per cent Gift of Land 1 5 per cent Memorandum of Understanding Related to Land Sales Joint Venture Surrender Subdivision Agreements 1 5 per cent Power of Attorney Irrevocable Land Related 1 5 per cent and Sales Agreement 1 5 per cent he said Edited By Wale Ojetimi NAN
    Stamp Duty: Landlords, property agents to collect, remit 6% on tenancy, lease agreement
     The Federal Inland Revenue Service FIRS has asked landlords and property agents to charge six per cent Stamp Duty on all tenancy and lease agreements they enter into with all leasees and remit same promptly to the Service Mr Abdullahi Ahmad Director Communications and Liaison Department of the service made this known in Abuja on Wednesday Ahmad said doing so was necessary so that they would not run foul of the Stamp Duty Act He said the admonition came following the recent release and wide circulation of a stamp duty clarification guide by FIRS Executive Chairman Mr Muhammad Nami He stated that property related transactions like tenancy or lease agreement fell under the Ad Valorem category of the stamp duty which attracted six per cent duty payable in percentage of the total value or sum of the tenancy or lease According to FIRS the burden of payment of the six per cent lies on the beneficiary of the tenancy or lease agreement whom the Stamp Duty Act identified as the tenant or renter Also the responsibility of collection and remittance fall on the landlord or agent in charge of the property for lease or rent In any case the party making the payment shall have the obligation to account for the applicable stamp duties Some other Stamp Duty types and their rates are Appraisement or Valuation of Property 1 5 per cent Certificate of Occupancy Partnership N1 000 flat rate Gift of Land 1 5 per cent Legal Mortgage 0 375 per cent Legal Mortgage Upstamping and 0 375 per cent Others are deed of Conveyance or Transfer on Sale of Property 1 5 per cent Gift of Land 1 5 per cent Memorandum of Understanding Related to Land Sales Joint Venture Surrender Subdivision Agreements 1 5 per cent Power of Attorney Irrevocable Land Related 1 5 per cent and Sales Agreement 1 5 per cent he said Edited By Wale Ojetimi NAN
    Stamp Duty: Landlords, property agents to collect, remit 6% on tenancy, lease agreement
    Economy2 years ago

    Stamp Duty: Landlords, property agents to collect, remit 6% on tenancy, lease agreement

    The Federal Inland Revenue Service (FIRS) has asked landlords and property agents to charge six per cent Stamp Duty on all tenancy and lease agreements they enter into with all leasees and remit same promptly to the Service.

    Mr Abdullahi Ahmad, Director, Communications and Liaison Department of the service, made this known in Abuja on Wednesday.

    Ahmad said doing so was necessary so that they would not run foul of the Stamp Duty Act.

    He said the admonition came following the recent release and wide circulation of a stamp duty clarification guide by FIRS Executive Chairman, Mr Muhammad Nami.

    He stated that property-related transactions like tenancy or lease agreement fell under the Ad Valorem category of the stamp duty which attracted six per cent duty payable in percentage of the total value or sum of the tenancy or lease.

    According to FIRS, the burden of payment of the six per cent lies on the beneficiary of the tenancy or lease agreement, whom the Stamp Duty Act identified as the tenant or renter.

    Also, the responsibility of collection and remittance fall on the landlord or agent in charge of the property for lease or rent.

    “In any case, the party making the payment shall have the obligation to account for the applicable stamp duties.

    “Some other Stamp Duty types and their rates are Appraisement or Valuation of Property, 1.5 per cent; Certificate of Occupancy, Partnership N1,000 flat rate; Gift of Land, 1.5 per cent Legal Mortgage, 0.375 per cent, Legal Mortgage (Upstamping) and 0.375 per cent.

    “Others are deed of Conveyance or Transfer on Sale of Property, 1.5 per cent: Gift of Land, 1.5 per cent Memorandum of Understanding (Related to Land, Sales, Joint Venture, Surrender, Subdivision Agreements, 1.5 per cent, Power of Attorney (Irrevocable/Land Related), 1.5 per cent and Sales Agreement, 1.5 per cent” he said.


    Edited By: Wale Ojetimi (NAN)

  •  The Federal Inland Revenue Service FIRS has published detailed information to guide taxpayers and the general public on rates payable as stamp duty Mr Abdullahi Ahmad Director Communications and Liaison Department of the FIRS made this known in a statement in Abuja on Tuesday Ahmed said that the clarification was made following several requests by taxpayers seeking such on the current administration of Stamp Duties Act in the country He stated that the clarification guide was contained in a Public Notice signed by Executive Chairman of FIRS Mr Muhammad Nami and was published on the official FIRS website www firs gov ng He quoted Nami as saying stamp duty is a tax payable in respect of dutiable instrument as provided under the Stamp Duties Act CAP S8 LFN 2004 as amended Such instruments include Agreements Contracts Receipts Memorandum of Understanding MOU Promissory notes Insurance policies and others stipulated in the Schedule to the Stamp Duties Act Stamp Duty is chargeable on both physical and electronic instruments in two ways i e Ad valorem where duty payable is a percentage of the consideration on an instrument or Flat Rate where a fixed sum is chargeable irrespective of the consideration on dutiable instrument or document he explained Nami listed no fewer than 50 types of chargeable transactions which require stamp duty He explained that some of the chargeable transactions were bank deposit or transfer loan agreement Memorandum of Understanding MoU related to land sales agreement will tenancy lease agreement and all receipts Nami clarified that the recently inaugurated FIRS Adhesive Stamp was not the same as postage stamp administered by NIPOST for the purposes of delivery of items and documents He said that such was therefore not a substitute for the FIRS adhesive stamp which was produced for the sole purpose of stamp duty payment The burden of payment of stamp duties whether fixed or ad valorem is that of the beneficiaries of a contract or Money Deposit Banks customers who transfer an amount of N10 000 and above from his account to another customer s account It is the responsibility of Ministries Departments and Agencies MDAs Money Deposit Banks MDBs Companies Landlords Executors among others to ensure that service providers contractors and tenants pay stamp duties due on agreements receipts and other dutiable instruments Failure to deduct or remit stamp duties into the Federal or State Stamp Duties Account attracts relevant penalties and interest as stipulated in the Stamp Duties Act Cap S8 LFN 2004 as amended Nami stated Edited By Oluwole Sogunle NAN
    FIRS clarifies stamp duty rates, others
     The Federal Inland Revenue Service FIRS has published detailed information to guide taxpayers and the general public on rates payable as stamp duty Mr Abdullahi Ahmad Director Communications and Liaison Department of the FIRS made this known in a statement in Abuja on Tuesday Ahmed said that the clarification was made following several requests by taxpayers seeking such on the current administration of Stamp Duties Act in the country He stated that the clarification guide was contained in a Public Notice signed by Executive Chairman of FIRS Mr Muhammad Nami and was published on the official FIRS website www firs gov ng He quoted Nami as saying stamp duty is a tax payable in respect of dutiable instrument as provided under the Stamp Duties Act CAP S8 LFN 2004 as amended Such instruments include Agreements Contracts Receipts Memorandum of Understanding MOU Promissory notes Insurance policies and others stipulated in the Schedule to the Stamp Duties Act Stamp Duty is chargeable on both physical and electronic instruments in two ways i e Ad valorem where duty payable is a percentage of the consideration on an instrument or Flat Rate where a fixed sum is chargeable irrespective of the consideration on dutiable instrument or document he explained Nami listed no fewer than 50 types of chargeable transactions which require stamp duty He explained that some of the chargeable transactions were bank deposit or transfer loan agreement Memorandum of Understanding MoU related to land sales agreement will tenancy lease agreement and all receipts Nami clarified that the recently inaugurated FIRS Adhesive Stamp was not the same as postage stamp administered by NIPOST for the purposes of delivery of items and documents He said that such was therefore not a substitute for the FIRS adhesive stamp which was produced for the sole purpose of stamp duty payment The burden of payment of stamp duties whether fixed or ad valorem is that of the beneficiaries of a contract or Money Deposit Banks customers who transfer an amount of N10 000 and above from his account to another customer s account It is the responsibility of Ministries Departments and Agencies MDAs Money Deposit Banks MDBs Companies Landlords Executors among others to ensure that service providers contractors and tenants pay stamp duties due on agreements receipts and other dutiable instruments Failure to deduct or remit stamp duties into the Federal or State Stamp Duties Account attracts relevant penalties and interest as stipulated in the Stamp Duties Act Cap S8 LFN 2004 as amended Nami stated Edited By Oluwole Sogunle NAN
    FIRS clarifies stamp duty rates, others
    Economy2 years ago

    FIRS clarifies stamp duty rates, others

    The Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty.

    Mr Abdullahi Ahmad, Director Communications and Liaison Department of the FIRS, made this known in a statement in Abuja on Tuesday.

    Ahmed said that the clarification was made following several requests by taxpayers seeking such on the current administration of Stamp Duties Act in the country.

    He stated that the clarification guide was contained in a Public Notice signed by Executive Chairman of FIRS, Mr Muhammad Nami and was published on the official FIRS website, www.firs.gov.ng.

    He quoted Nami as saying “stamp duty is a tax payable in respect of dutiable instrument as provided under the Stamp Duties Act, CAP S8, LFN 2004 (as amended).

    “Such instruments include Agreements, Contracts, Receipts, Memorandum of Understanding (MOU), Promissory notes, Insurance policies and others stipulated in the Schedule to the Stamp Duties Act.

    “Stamp Duty is chargeable on both physical and electronic instruments in two ways i.e. Ad-valorem, where duty payable is a percentage of the consideration on an instrument; or Flat Rate, where a fixed sum is chargeable irrespective of the consideration on dutiable instrument or document” he explained.

    Nami listed no fewer than 50 types of chargeable transactions which require stamp duty.

    He explained that some of the chargeable transactions were bank deposit or transfer, loan agreement, Memorandum of Understanding (MoU) related to land, sales agreement, will,  tenancy/lease agreement and all receipts.

    Nami clarified that the recently inaugurated FIRS Adhesive Stamp was not the same as postage stamp administered by NIPOST for the purposes of delivery of items and documents.

    He said that such was therefore not a substitute for the FIRS adhesive stamp, which was produced for the sole purpose of stamp duty payment.

    “The burden of payment of stamp duties whether fixed or ad-valorem is that of the beneficiaries of a contract, or Money Deposit Banks’ customers who transfer an amount of N10,000 and above from his account to another customer’s account.

    “It is the responsibility of Ministries, Departments and Agencies (MDAs), Money Deposit Banks (MDBs), Companies, Landlords, Executors, among others to ensure that service providers, contractors and tenants pay stamp duties due on agreements, receipts and other dutiable instruments.

    “Failure to deduct or remit stamp duties into the Federal or State Stamp Duties Account attracts relevant penalties and interest as stipulated in the Stamp Duties Act, Cap S8, LFN 2004 (as amended)” Nami stated.


    Edited By: Oluwole Sogunle (NAN)

  •  The Association of Senior Civil Servants of Nigeria ASCSN has commended the Federal Inland Revenue Service FIRS for boosting government s revenue via stamp duty collection Mr Alade Lawal the association s Secretary General said in Lagos on Monday that the FIRS remittance of N66 billion to the Federation account within the first five months was remarkable When juxtaposed against the N18 billion realised from stamp duty collection between January and December 2019 the N66 billion raked in between January and May will be recognised as a rare feat indeed Also it is a clear testimony that the FIRS management team is discharging its duties creditably Lawal said in a statement He therefore called on the Presidency FIRS management and the general public to disregard disinformation by some people masquerading as trade unionists to disparage the high profile performance Indeed these retrogressive elements desperately seeking relevance and public attention should be declared persona non grata in a strategic organ of the government such as the FIRS Lawal said The ASCSN boss noted that Section 4 1 of the Stamp Duty Act vested the FIRS with sole authority to impose charge and collect stamp duties According to him this is upon instruments specified in the Schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual group or body of individuals The relevant tax authority in a state by Section 4 2 of the act is empowered to collect stamp duties on instruments executed by individuals at such rate as may be determined by the act Previously the FIRS collects stamp duties on instruments executed by an individual resident in the Federal Capital Territory FCT However this has ceased upon the creation of the FCT Internal Revenue Service What should become self evident from the above is that all relevant legal instruments on stamp duties collection are vested on the FIRS he said Lawal urged the FIRS management to keep up the good work and ensure that by the end of 2020 revenue collected from stamp duties should be unparalleled in the history of the organisation Edited By Chinyere Bassey Adeleye Ajayi NAN
    Labour lauds FIRS for boosting FG’s revenue
     The Association of Senior Civil Servants of Nigeria ASCSN has commended the Federal Inland Revenue Service FIRS for boosting government s revenue via stamp duty collection Mr Alade Lawal the association s Secretary General said in Lagos on Monday that the FIRS remittance of N66 billion to the Federation account within the first five months was remarkable When juxtaposed against the N18 billion realised from stamp duty collection between January and December 2019 the N66 billion raked in between January and May will be recognised as a rare feat indeed Also it is a clear testimony that the FIRS management team is discharging its duties creditably Lawal said in a statement He therefore called on the Presidency FIRS management and the general public to disregard disinformation by some people masquerading as trade unionists to disparage the high profile performance Indeed these retrogressive elements desperately seeking relevance and public attention should be declared persona non grata in a strategic organ of the government such as the FIRS Lawal said The ASCSN boss noted that Section 4 1 of the Stamp Duty Act vested the FIRS with sole authority to impose charge and collect stamp duties According to him this is upon instruments specified in the Schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual group or body of individuals The relevant tax authority in a state by Section 4 2 of the act is empowered to collect stamp duties on instruments executed by individuals at such rate as may be determined by the act Previously the FIRS collects stamp duties on instruments executed by an individual resident in the Federal Capital Territory FCT However this has ceased upon the creation of the FCT Internal Revenue Service What should become self evident from the above is that all relevant legal instruments on stamp duties collection are vested on the FIRS he said Lawal urged the FIRS management to keep up the good work and ensure that by the end of 2020 revenue collected from stamp duties should be unparalleled in the history of the organisation Edited By Chinyere Bassey Adeleye Ajayi NAN
    Labour lauds FIRS for boosting FG’s revenue
    Metro2 years ago

    Labour lauds FIRS for boosting FG’s revenue

    The Association of Senior Civil Servants of Nigeria (ASCSN) has commended the Federal Inland Revenue Service (FIRS) for boosting government’s revenue via stamp duty collection.

    Mr Alade Lawal, the association’s Secretary-General said in Lagos on Monday that the FIRS remittance of N66 billion to the Federation account within the first five months was remarkable.

    “When juxtaposed against the N18 billion realised from stamp duty collection between January and December 2019, the N66 billion raked in between January and May will be recognised as a rare feat indeed.

    “Also, it is a clear testimony that the FIRS management team is discharging its duties creditably,” Lawal said in a statement.

    He, therefore, called on the Presidency, FIRS management and the general public to disregard disinformation by some people masquerading as trade unionists to disparage the high profile performance.

    “Indeed, these retrogressive elements desperately seeking relevance and public attention should be declared persona non-grata in a strategic organ of the government such as the FIRS,” Lawal said.

    The ASCSN boss noted that Section 4(1) of the Stamp Duty Act, vested the FIRS with sole authority to impose, charge and collect stamp duties.

    According to him, this is upon instruments specified in the Schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual, group or body of individuals.

    “The relevant tax authority in a state, by Section 4(2) of the act is empowered to collect stamp duties on instruments executed by individuals at such rate as may be determined by the act.

    “Previously, the FIRS collects stamp duties on instruments executed by an individual resident in the Federal Capital Territory (FCT).

    “However, this has ceased upon the creation of the FCT Internal Revenue Service. What should become self-evident from the above is that all relevant legal instruments on stamp duties collection are vested on the FIRS,” he said.

    Lawal urged the FIRS management to keep up the good work and ensure that by the end of 2020, revenue collected from stamp duties should be unparalleled in the history of the organisation.


    Edited By: Chinyere Bassey/Adeleye Ajayi (NAN)

  •  The House of Representatives Committee on Diaspora has accused the Federal Ministry of Labour of aiding human trafficking The Chairman of the Committee Rep Tolulope Akande Sadipe APC Oyo made this known at a public hearing on Thursday in Abuja She said that the ministry had also continued to frustrate frantic effort of the National Assembly to combat the crime The house committee on diaspora in a bid to find workable solution in tackling the menace of trafficking and the dehumanising condition of Nigerians abroad by some local and international syndicates have been having a series of interagency meetings with stakeholders But regrettably the Ministry of Labour that is at the centre of the whole controversy has intentionally refused to honour the committee invitation for five consecutive meetings We have invited five time times today being the 5th and he was again represented by a Permanent Secretary who claims he is new and does not understand the workings and what transpired prior to his engagement This is in spite of having sign a recruiters licence earlier this year where there was a moratorium placed on such licenses since 2017 It appears that there is a clear incompetence or complicity within the ministry that has led this compromise trafficking and abuse of Nigeria citizen she said The chairman said that investigation showed that licences were issued after the moratorium that allowed agents traffic our girls She said agents were allowed to take Nigerians to Lebanon a country that doesn t have a labour pact with Nigeria According to her licenses were also issued to companies who have not complied with Corporate Affairs Commission CAC and Federal Inland Revenue Service FIRS requirements The lawmaker said that girls were allowed to be taken out by agents without the mandatory counselling and orientation He said that agents were allowed to operate without annual reports on the domestic staff sent abroad The Ministry of Labour has refused to submit documentation requested where documentation was provided by the labour the investigation revealed that there were inconsistencies in the report from labour in comparison with FIRS CAC NAPTIP Ministry of Justice and National Social Insurance Trust Fund NSITF Even where labour made a report submission their submission was in conflict with the documentation backing it up also submitted by them she said Akande Sadipe expressed sadness that Nigeria had to witness such a great disregard for the life of a Nigerian citizen by encouraging their trafficking Today we have over approximately as I do not have the records right here 20 000 girls in Mali 2 000 girls in Saudi Arabia and 1 000 girls in Oman We have 150 girls in Abu Dhabi 2 000 girls in Dubai 2 000 girls in Libya in a very dehumanising condition even the country government cannot get to these girls being held as slaves in remote areas she said The chairman promised that the parliament will take the matter up at plenary Edited By Kayode Olaitan NAN
    Reps C’ttee accuses Labour Ministry of aiding human trafficking
     The House of Representatives Committee on Diaspora has accused the Federal Ministry of Labour of aiding human trafficking The Chairman of the Committee Rep Tolulope Akande Sadipe APC Oyo made this known at a public hearing on Thursday in Abuja She said that the ministry had also continued to frustrate frantic effort of the National Assembly to combat the crime The house committee on diaspora in a bid to find workable solution in tackling the menace of trafficking and the dehumanising condition of Nigerians abroad by some local and international syndicates have been having a series of interagency meetings with stakeholders But regrettably the Ministry of Labour that is at the centre of the whole controversy has intentionally refused to honour the committee invitation for five consecutive meetings We have invited five time times today being the 5th and he was again represented by a Permanent Secretary who claims he is new and does not understand the workings and what transpired prior to his engagement This is in spite of having sign a recruiters licence earlier this year where there was a moratorium placed on such licenses since 2017 It appears that there is a clear incompetence or complicity within the ministry that has led this compromise trafficking and abuse of Nigeria citizen she said The chairman said that investigation showed that licences were issued after the moratorium that allowed agents traffic our girls She said agents were allowed to take Nigerians to Lebanon a country that doesn t have a labour pact with Nigeria According to her licenses were also issued to companies who have not complied with Corporate Affairs Commission CAC and Federal Inland Revenue Service FIRS requirements The lawmaker said that girls were allowed to be taken out by agents without the mandatory counselling and orientation He said that agents were allowed to operate without annual reports on the domestic staff sent abroad The Ministry of Labour has refused to submit documentation requested where documentation was provided by the labour the investigation revealed that there were inconsistencies in the report from labour in comparison with FIRS CAC NAPTIP Ministry of Justice and National Social Insurance Trust Fund NSITF Even where labour made a report submission their submission was in conflict with the documentation backing it up also submitted by them she said Akande Sadipe expressed sadness that Nigeria had to witness such a great disregard for the life of a Nigerian citizen by encouraging their trafficking Today we have over approximately as I do not have the records right here 20 000 girls in Mali 2 000 girls in Saudi Arabia and 1 000 girls in Oman We have 150 girls in Abu Dhabi 2 000 girls in Dubai 2 000 girls in Libya in a very dehumanising condition even the country government cannot get to these girls being held as slaves in remote areas she said The chairman promised that the parliament will take the matter up at plenary Edited By Kayode Olaitan NAN
    Reps C’ttee accuses Labour Ministry of aiding human trafficking
    Politics2 years ago

    Reps C’ttee accuses Labour Ministry of aiding human trafficking

    The House of Representatives Committee on Diaspora has accused the Federal Ministry of Labour of aiding human trafficking.

    The Chairman of the Committee, Rep. Tolulope Akande-Sadipe (APC-Oyo) made this known at a public hearing on Thursday in Abuja.

    She said that the ministry had also continued to frustrate frantic effort of the National Assembly to combat the crime.

    “The house committee on diaspora in a bid to find workable solution in tackling the menace of trafficking and the dehumanising condition of Nigerians abroad by some local and international syndicates have been having a series of interagency meetings with stakeholders.

    ”But regrettably the Ministry of Labour that is at the centre of the whole controversy has intentionally refused to honour the committee invitation for five consecutive meetings.

    “We have invited five time times today being the 5th and he was again represented by a Permanent Secretary who claims he is new and does not understand the workings and what transpired prior to his engagement.

    “This is in spite of having sign a recruiters licence earlier this year where there was a moratorium placed on such licenses since 2017.

    “It appears that there is a clear incompetence or complicity within the ministry that has led this compromise trafficking and abuse of Nigeria citizen,” she said.

    The chairman said that investigation showed that licences were issued after the moratorium that allowed agents traffic our girls.

    She said agents were allowed to take Nigerians to Lebanon a country that doesn’t have a labour pact with Nigeria.

    According to her, licenses were also issued to companies who have not complied with Corporate Affairs Commission (CAC) and Federal Inland Revenue Service (FIRS) requirements.

    The lawmaker said that girls were allowed to be taken out by agents without the mandatory counselling and orientation.

    He said that agents were allowed to operate without annual reports on the domestic staff sent abroad.

    “The Ministry of Labour has refused to submit documentation requested; where documentation was provided by the labour the investigation revealed that there were inconsistencies in the report from labour in comparison with FIRS, CAC NAPTIP, Ministry of Justice and National Social Insurance Trust Fund (NSITF).

    “Even where labour made a report submission, their submission was in conflict with the documentation backing it up also submitted by them,” she said.

    Akande-Sadipe expressed sadness that Nigeria had to witness such a great disregard for the life of a Nigerian citizen by encouraging their trafficking.

    “Today we have over approximately, as I do not have the records right here, 20,000 girls in Mali, 2,000 girls in Saudi Arabia and 1,000 girls in Oman.

    “We have 150 girls in Abu Dhabi, 2,000 girls in Dubai, 2,000 girls in Libya in a very dehumanising condition even the country government cannot get to these girls being held as slaves in remote areas,” she said.

    The chairman promised that the parliament will take the matter up at plenary.


    Edited By: Kayode Olaitan (NAN)

  •  The Director General of the Budget Office of the Federation Mr Ben Akabueze says tax on rents Certificate of Occupancy C of O and others is not a new law to the system Akabueze made the clarification while fielding questions from participants at a virtual presentation of 2021 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper MTEF amp FSP in Abuja on Friday He said the law that permited payment of tax on rents and others was an existing one but had not been observed for a very long time It is not new it is just N50 to be paid and the law has always been there I recall in early 80s when I started work the receipt my landlord used to give me he would paste a physical postage stamp on that receipt Overtime because the culture of postage has dropped off and that was not been implemented what FIRS has done now is to make that into electronic stamp that you can still use to comply with the existing law he explained The News Agency of Nigeria recalls that Federal Inland Revenue Service FIRS had last week announced that henceforth there would be stamp duty paid on house rent and C of O in the service new adhesive duty FIRS urged Nigerians and other residents in the country to make sure that documents pertaining to rent or lease agreements for their homes or offices C of O as well as a list of other common business related transaction instruments were subject to authentication with the new FIRS Adhesive Stamp duty It stated that it was necessary in order to give these instruments the force of law and make them legally bidding on all parties involved in such transactions According to the service the new FIRS Adhesive Stamp Duty was inaugurated in Abuja at the official inauguration of the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties recently Edited By Wale Ojetimi NAN
    FG clarifies tax on house rents, C of O, others
     The Director General of the Budget Office of the Federation Mr Ben Akabueze says tax on rents Certificate of Occupancy C of O and others is not a new law to the system Akabueze made the clarification while fielding questions from participants at a virtual presentation of 2021 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper MTEF amp FSP in Abuja on Friday He said the law that permited payment of tax on rents and others was an existing one but had not been observed for a very long time It is not new it is just N50 to be paid and the law has always been there I recall in early 80s when I started work the receipt my landlord used to give me he would paste a physical postage stamp on that receipt Overtime because the culture of postage has dropped off and that was not been implemented what FIRS has done now is to make that into electronic stamp that you can still use to comply with the existing law he explained The News Agency of Nigeria recalls that Federal Inland Revenue Service FIRS had last week announced that henceforth there would be stamp duty paid on house rent and C of O in the service new adhesive duty FIRS urged Nigerians and other residents in the country to make sure that documents pertaining to rent or lease agreements for their homes or offices C of O as well as a list of other common business related transaction instruments were subject to authentication with the new FIRS Adhesive Stamp duty It stated that it was necessary in order to give these instruments the force of law and make them legally bidding on all parties involved in such transactions According to the service the new FIRS Adhesive Stamp Duty was inaugurated in Abuja at the official inauguration of the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties recently Edited By Wale Ojetimi NAN
    FG clarifies tax on house rents, C of O, others
    Economy2 years ago

    FG clarifies tax on house rents, C of O, others

    The Director-General of the Budget Office of the Federation, Mr Ben Akabueze, says tax on rents, Certificate of Occupancy (C of O) and others is not a new law to the system.Akabueze made the clarification while fielding questions from participants at a virtual presentation of 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF&FSP) in Abuja on Friday.He said the law that permited payment of tax on rents and others was an existing one but had not been observed for a very long time.“It is not new, it is just N50 to be paid and the law has always been there. I recall in early 80s when I started work,  the receipt my landlord used to give me, he would paste a physical postage stamp on that receipt.“Overtime, because the culture of postage has dropped off and that was not been implemented, what FIRS has done now is to make that into electronic stamp that you can still use to comply with the existing law,” he explained.The News Agency of Nigeria recalls that Federal Inland Revenue Service (FIRS) had last week announced that henceforth, there would be stamp duty paid on house rent and C of O in the service new adhesive duty.FIRS urged Nigerians and other residents in the country to make sure that documents pertaining to rent or lease agreements for their homes or offices, C of O as well as a list of other common business-related transaction instruments were subject to authentication with the new FIRS Adhesive Stamp duty.It stated that it was necessary in order to give these instruments the force of law and make them legally bidding on all parties involved in such transactions.According to the service, the new FIRS Adhesive Stamp Duty was inaugurated in Abuja at the official inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties recently.Edited By: Wale Ojetimi (NAN)

  •  The Federal Inland Revenue Service FIRS has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30 to August 31 2020 Mr Abdullahi Ahmad the FIRS Director Communications and Liaison Department made this known in a statement in Abuja on Wednesday Ahmad quoted the Executive Chairman of FIRS Mr Muhammad Nami as saying the extension is a follow up to a number of palliative measures devised by the service to cushion the effects of the COVID 19 pandemic on the Nigerian economy and to support tax paying individuals and business entities in the country The latest extension applies to tax audit tax investigation and desk review assessments approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated he said Nami disclosed that there will be no further extension of this palliative measure He said tax debtors were therefore enjoined to liquidate their outstanding tax liabilities on or before August 31 in order to enjoy waiver of accumulated penalties and interests He also advised all concerned individuals and businesses to contact their respective tax Controller or the nearest FIRS Regional Debt Management Office in case of further enquiries adding that a list of all our offices was available on their website www firs gov ng Edited By Sadiya Hamza NAN
    FIRS extends tax debt payments to Aug. 31
     The Federal Inland Revenue Service FIRS has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30 to August 31 2020 Mr Abdullahi Ahmad the FIRS Director Communications and Liaison Department made this known in a statement in Abuja on Wednesday Ahmad quoted the Executive Chairman of FIRS Mr Muhammad Nami as saying the extension is a follow up to a number of palliative measures devised by the service to cushion the effects of the COVID 19 pandemic on the Nigerian economy and to support tax paying individuals and business entities in the country The latest extension applies to tax audit tax investigation and desk review assessments approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated he said Nami disclosed that there will be no further extension of this palliative measure He said tax debtors were therefore enjoined to liquidate their outstanding tax liabilities on or before August 31 in order to enjoy waiver of accumulated penalties and interests He also advised all concerned individuals and businesses to contact their respective tax Controller or the nearest FIRS Regional Debt Management Office in case of further enquiries adding that a list of all our offices was available on their website www firs gov ng Edited By Sadiya Hamza NAN
    FIRS extends tax debt payments to Aug. 31
    Economy2 years ago

    FIRS extends tax debt payments to Aug. 31

    The Federal Inland Revenue Service (FIRS) has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30 to August 31, 2020.

    Mr Abdullahi Ahmad, the FIRS Director, Communications and Liaison Department made this known in a statement in Abuja on Wednesday.

    Ahmad quoted the Executive Chairman of FIRS, Mr Muhammad Nami as saying “the extension is a follow up to a number of palliative measures devised by the service to cushion the effects of the COVID-19 pandemic on the Nigerian economy and to support tax-paying individuals and business entities in the country.

    “The latest extension applies to tax audit, tax investigation and desk review assessments, approved instalment payment plans under Voluntary Assets and Income Declaration Scheme yet to be fully liquidated” he said.

    Nami disclosed that there will be no further extension of this palliative measure.

    He said tax debtors were therefore enjoined to liquidate their outstanding tax liabilities on or before  August 31 in order to enjoy waiver of accumulated penalties and interests.

    He also advised all concerned individuals and businesses to contact their respective tax Controller or the nearest FIRS Regional Debt Management Office in case of further enquiries adding that a list of all our offices was available on their website: www.firs.gov.ng.

    Edited By: Sadiya Hamza (NAN)

  •  President of the Senate Ahmad Lawan on Tuesday tasked the Federal Inland Revenue Service FIRS to widen the tax net rather than overburden the people and business concerns Ola Awoniyi his Special Adviser on Media in a statement in Abuja noted that Lawan was the Guest Speaker at the inauguration of the Inter Ministerial Committee on the Audit and Recovery of back years Stamp Duties The event was also Federal Inland Revenue Services FIRS formal launching of adhesive Stamp for Stamp Duties collection in Nigeria We should rather expand the tax net Let s not over burden our businesses or our citizens Lawan said at the event which took place in Abuja The President of the Senate said that there were many people who were supposed to pay taxes but were not captured in the tax net Let s expand the tax net and ensure that we have in the net many more Nigerians who are supposed to pay taxes and you have our support at all times Lawan said He said the Senate was aware of the various challenges against the efforts of the FIRS to rejig tax administration in the country especially the global challenge posed by the COVID 19 pandemic He said the recent posting by FIRS of an impressive first quarter result was an indication that the current leadership of FIRS was working Indeed this is an indication that agencies of government if given the necessary all round support and collaboration will be able to deliver excellent results We will continue to acknowledge encourage and support the initiatives and efforts of revenue generating agencies of government to improve their revenue collection especially in these trying times The Senate and the National Assembly will continue to provide the necessary legislative backings and oversight functions that will help maximise the revenue of government and ensure that government is better positioned to deliver on its mandate Lawan said Edited By JaneFrances Oraka Donald Ugwu NAN
    Senate President tasks govt tax collectors to widen tax net
     President of the Senate Ahmad Lawan on Tuesday tasked the Federal Inland Revenue Service FIRS to widen the tax net rather than overburden the people and business concerns Ola Awoniyi his Special Adviser on Media in a statement in Abuja noted that Lawan was the Guest Speaker at the inauguration of the Inter Ministerial Committee on the Audit and Recovery of back years Stamp Duties The event was also Federal Inland Revenue Services FIRS formal launching of adhesive Stamp for Stamp Duties collection in Nigeria We should rather expand the tax net Let s not over burden our businesses or our citizens Lawan said at the event which took place in Abuja The President of the Senate said that there were many people who were supposed to pay taxes but were not captured in the tax net Let s expand the tax net and ensure that we have in the net many more Nigerians who are supposed to pay taxes and you have our support at all times Lawan said He said the Senate was aware of the various challenges against the efforts of the FIRS to rejig tax administration in the country especially the global challenge posed by the COVID 19 pandemic He said the recent posting by FIRS of an impressive first quarter result was an indication that the current leadership of FIRS was working Indeed this is an indication that agencies of government if given the necessary all round support and collaboration will be able to deliver excellent results We will continue to acknowledge encourage and support the initiatives and efforts of revenue generating agencies of government to improve their revenue collection especially in these trying times The Senate and the National Assembly will continue to provide the necessary legislative backings and oversight functions that will help maximise the revenue of government and ensure that government is better positioned to deliver on its mandate Lawan said Edited By JaneFrances Oraka Donald Ugwu NAN
    Senate President tasks govt tax collectors to widen tax net
    Politics2 years ago

    Senate President tasks govt tax collectors to widen tax net

    President of the Senate Ahmad Lawan on Tuesday tasked the Federal Inland Revenue Service (FIRS), to widen the tax net rather than overburden the people and business concerns.

    Ola Awoniyi, his Special Adviser on Media in a statement in Abuja noted that Lawan was the Guest Speaker at the inauguration of the Inter-Ministerial Committee on the Audit and Recovery of back years Stamp Duties.

    The event was also Federal Inland Revenue Services (FIRS), formal launching of adhesive Stamp for Stamp Duties collection in Nigeria.

    “We should rather expand the tax net. Let’s not over burden our businesses or our citizens,” Lawan said at the event which took place in Abuja.

    The President of the Senate said that there were many people who were supposed to pay taxes but were not captured in the tax net.

    “Let’s expand the tax net and ensure that we have in the net many more Nigerians who are supposed to pay taxes, and you have our support at all times,” Lawan said.

    He said the Senate was aware of the various challenges against the efforts of the FIRS to rejig tax administration in the country especially the global challenge posed by the COVID-19 pandemic.

    He said the recent posting by FIRS of an impressive first quarter result was an indication that the current leadership of FIRS was working.

    “Indeed, this is an indication that agencies of government, if given the necessary all round support and collaboration, will be able to deliver excellent results.

    “We will continue to acknowledge, encourage and support the initiatives and efforts of revenue generating agencies of government to improve their revenue collection, especially in these trying times.

    “The Senate and the National Assembly will continue to provide the necessary legislative backings and oversight functions that will help maximise the revenue of government and ensure that government is better positioned to deliver on its mandate,” Lawan said.

    Edited By: JaneFrances Oraka/Donald Ugwu (NAN)

  •  The Federal Inland Revenue Service FIRS has generated the sum of N66 billion from stamp duties between January and May Mr Abdullahi Ahmad the FIRS Director Communications and Liaison Department made this known in a statement in Abuja on Tuesday Ahmad said the Executive Chairman of FIRS Muhammad Nami disclosed this at the inauguration of the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja Nami said the money realised in the first five months of the year from stamp duties represented about 1 000 per cent increase He stated that the increment was unprecedented when compared to six billion naira collected from January to May 2019 The FIRS boss attributed this increase to the dynamism triggered by Finance Act 2019 sums warehoused by the CBN in respect of prior years and the deployment of technology as well as stakeholders collaboration 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 The statement disclosed the Secretary to the Government of the Federation SGF 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 Mustapha also directed that all institutions of government and related stakeholders should support the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties to enable it succeed on its assignment In the face of dwindling oil revenue and the global shift away from oil dependent technological products it is even more compelling now to begin to think out of the box in order to safeguard the future of our country Therefore this administration has resolved to widen the revenue base by activating stamp duties revenue collection which has been neglected for more than 20 years I hereby also direct and request that all relevant MDAs particularly the Central Bank of Nigeria NIBBS MDBs FIRS NIPOST should give maximum cooperation to the Committee in the discharge of its mandate Mustapha said Edited By Ismail Abdulaziz NAN
    FIRS generates N66bn from stamp duties in 5 months
     The Federal Inland Revenue Service FIRS has generated the sum of N66 billion from stamp duties between January and May Mr Abdullahi Ahmad the FIRS Director Communications and Liaison Department made this known in a statement in Abuja on Tuesday Ahmad said the Executive Chairman of FIRS Muhammad Nami disclosed this at the inauguration of the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja Nami said the money realised in the first five months of the year from stamp duties represented about 1 000 per cent increase He stated that the increment was unprecedented when compared to six billion naira collected from January to May 2019 The FIRS boss attributed this increase to the dynamism triggered by Finance Act 2019 sums warehoused by the CBN in respect of prior years and the deployment of technology as well as stakeholders collaboration 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 The statement disclosed the Secretary to the Government of the Federation SGF 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 Mustapha also directed that all institutions of government and related stakeholders should support the Inter Ministerial Committee on Audit and Recovery of Back Years Stamp Duties to enable it succeed on its assignment In the face of dwindling oil revenue and the global shift away from oil dependent technological products it is even more compelling now to begin to think out of the box in order to safeguard the future of our country Therefore this administration has resolved to widen the revenue base by activating stamp duties revenue collection which has been neglected for more than 20 years I hereby also direct and request that all relevant MDAs particularly the Central Bank of Nigeria NIBBS MDBs FIRS NIPOST should give maximum cooperation to the Committee in the discharge of its mandate Mustapha said Edited By Ismail Abdulaziz NAN
    FIRS generates N66bn from stamp duties in 5 months
    Economy2 years ago

    FIRS generates N66bn from stamp duties in 5 months

    The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May.

    Mr Abdullahi Ahmad, the FIRS Director, Communications and Liaison Department made this known in a statement in Abuja on Tuesday.

    Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

    Nami said the money realised in the first five months of the year from stamp duties represented about 1,000 per cent increase.

    He stated that the increment was unprecedented when compared to six billion naira collected from January to May 2019.

    The FIRS boss attributed this increase to the dynamism triggered by Finance Act 2019, sums warehoused by the CBN in respect of prior years and the deployment of technology as well as stakeholders’ collaboration.

    “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”.

    The statement disclosed the Secretary to the Government of the Federation (SGF), 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.

    Mustapha also directed that all institutions of government and related stakeholders should support the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties to enable it succeed on its assignment.

    ‘In the face of dwindling oil revenue, and the global shift away from oil dependent technological products, it is even more compelling now to begin to think out of the box in order to safeguard the future of our country.

    “Therefore, this administration has resolved to widen the revenue base by activating stamp duties revenue collection which has been neglected for more than 20 years.

    “I hereby also direct and request that all relevant MDAs, particularly the Central Bank of Nigeria, NIBBS, MDBs, FIRS, NIPOST should give maximum cooperation to the Committee in the discharge of its mandate.” Mustapha said.

    Edited By: Ismail Abdulaziz (NAN)

  •  The Nigerian Communications Commission NCC has signed a Memorandum of Understanding MOU with the Federal Inland Revenue Service FIRS This is to ensure the tax agency ascertained accuracy and completeness of value added tax VAT elements and other taxes payable in the transactions of telecoms operators A statement signed by Dr Henry Nkemadu Director public Affairs of NCC in Abuja said that the MOU was in line with the commission s inter agency collaboration quoting the Executive Vice Chairman of NCC Prof Umar Danbatta Danbatta said that diligence and appropriate due processes were undertaken to conclude the MOU as the Commission took its time to understand the import of the MOU Our concern as Regulator of the telecoms industry is that we needed to be sure that it is not another way to tax telecoms operators who are already dealing with multiple taxation issues We have also ensured that the integration of the solutions with telcos transactions systems will not in any way impact the cost and quality of service delivery by the operators to telecoms consumers Danbatta therefore assured telecoms consumers and stakeholders that the integration with the operators systems was entirely to ascertain the accuracy of the VAT elements being paid by the operators on their transactions He noted that it would not in any way degrade the quality of service delivery or lead to high cost of service to the consumers The Executive Chairman FIRS Muhammad Nami explained that the MOU was mainly to ascertain completeness of tax transactions of mobile service providers to the Federal Government This is due to the shift of physical businesses to electronic based business activities Nami expressed delight and thanked the NCC for accepting to collaborate with the tax agency With the MOU the FIRS will be able to integrate an application programming interface API technology solution with the systems of telecom operators This is for independent verification of the amount of VAT that should be paid by mobile network operators MNO rather than relying entirely on the operators books of accounts he said Edited By Josephine Obute Donald Ugwu NAN
    NCC, FIRS sign MOU for ascertaining VAT elements of telcos’ transactions
     The Nigerian Communications Commission NCC has signed a Memorandum of Understanding MOU with the Federal Inland Revenue Service FIRS This is to ensure the tax agency ascertained accuracy and completeness of value added tax VAT elements and other taxes payable in the transactions of telecoms operators A statement signed by Dr Henry Nkemadu Director public Affairs of NCC in Abuja said that the MOU was in line with the commission s inter agency collaboration quoting the Executive Vice Chairman of NCC Prof Umar Danbatta Danbatta said that diligence and appropriate due processes were undertaken to conclude the MOU as the Commission took its time to understand the import of the MOU Our concern as Regulator of the telecoms industry is that we needed to be sure that it is not another way to tax telecoms operators who are already dealing with multiple taxation issues We have also ensured that the integration of the solutions with telcos transactions systems will not in any way impact the cost and quality of service delivery by the operators to telecoms consumers Danbatta therefore assured telecoms consumers and stakeholders that the integration with the operators systems was entirely to ascertain the accuracy of the VAT elements being paid by the operators on their transactions He noted that it would not in any way degrade the quality of service delivery or lead to high cost of service to the consumers The Executive Chairman FIRS Muhammad Nami explained that the MOU was mainly to ascertain completeness of tax transactions of mobile service providers to the Federal Government This is due to the shift of physical businesses to electronic based business activities Nami expressed delight and thanked the NCC for accepting to collaborate with the tax agency With the MOU the FIRS will be able to integrate an application programming interface API technology solution with the systems of telecom operators This is for independent verification of the amount of VAT that should be paid by mobile network operators MNO rather than relying entirely on the operators books of accounts he said Edited By Josephine Obute Donald Ugwu NAN
    NCC, FIRS sign MOU for ascertaining VAT elements of telcos’ transactions
    Science & Technology2 years ago

    NCC, FIRS sign MOU for ascertaining VAT elements of telcos’ transactions

    The Nigerian Communications Commission (NCC), has signed a Memorandum of Understanding (MOU) with the Federal Inland Revenue Service (FIRS).

    This is to ensure the tax agency ascertained accuracy and completeness of value added tax (VAT) elements and other taxes payable in the transactions of telecoms operators.

    A statement signed by Dr Henry Nkemadu, Director, public Affairs of NCC, in Abuja, said that the MOU was in line with the commission’s inter-agency collaboration, quoting the Executive Vice Chairman of NCC, Prof. Umar Danbatta.

    Danbatta said that diligence and appropriate due processes were undertaken to conclude the MOU, as the Commission took its time to understand the import of the MOU.

    “Our concern, as Regulator of the telecoms industry, is that we needed to be sure that it is not another way to tax telecoms operators, who are already dealing with multiple taxation issues.

    “We have also ensured that the integration of the solutions with telcos’ transactions systems will not, in any way, impact the cost and quality of service delivery by the operators to telecoms consumers.”

    Danbatta, therefore, assured telecoms consumers and stakeholders that the integration with the operators’ systems was entirely to ascertain the accuracy of the VAT elements being paid by the operators on their transactions.

    He noted that it would not, in any way, degrade the quality of service delivery or lead to high cost of service to the consumers.

    The Executive Chairman, FIRS, Muhammad Nami, explained that the MOU was mainly to ascertain completeness of tax transactions of mobile service providers to the Federal Government.

    This is due to the shift of physical businesses to electronic-based business activities.

    Nami expressed delight and thanked the NCC for accepting to collaborate with the tax agency.

    With the MOU, the FIRS will be able to integrate an application programming interface (API) technology solution with the systems of telecom operators.

    “This is for independent verification of the amount of VAT that should be paid by mobile network operators (MNO) rather than relying entirely on the operators’ books of accounts,” he said.


    Edited By: Josephine Obute/Donald Ugwu (NAN)

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