Tag: stamp duty

Policy and Regulations

Stamp duty compliance no longer optional for businesses — Consultant

Nigerian businesses can no longer treat stamp duty as a simple formality. Under the new Nigeria Tax Act, any commercial contract that is not properly stamped may not be accepted in court or during arbitration. This puts many important business deals worth billions of naira at risk. According to BusinessDay, tax consultant Olamide Sulaiman described […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
News

FG orders banks to deduct stamp duty charges on loans

The Federal Government has directed commercial banks in the country to henceforth deduct and remit 0.375% of all loans disbursed by them. The deduction is to be made on the principal loan amount, according to a message sent to customers by banks, according to nairametrics. This follows as the government stretches the net on transactions […]