According to Taiwo Oyedele, West Africa Tax Leader at PwC Nigeria...
Key takeaway from the inauguration of committee on recovery of Stamp Duties held on June 30, 2020 includes:
1) Main focus is on recovery of stamp duties collected by institutions such as Money Deposit Banks, NIBSS, CAC, etc.
2) Recovery will be from 2015 to 2019.
3) All agencies, companies and individuals are expected to fully comply from 2020.
4) Potentially individuals and companies may also be subject to the back-duty recovery exercise.
5) FIRS unveiled its adhesive stamp to be used going forward
Public notice regarding the inauguration of inter-ministerial committee today on the recovery of stamp duties.
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