NIPOST In Charge Of Adhesive Stamps, Not Stamp Duties — FIRS

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.

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.

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.

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.