Connect with us

Travel & Postal

Stamp Duty: FIRS’ actions will kill, bury NIPOST –  Maimuna Abubakar

Published

on

Stamp Duty
Nigeria's N50 postage stamp

Chairman, Board of the Nigeria Postal Service (NIPOST), Maimuna Abubakar has express disaffection the (alleged) attempts by the Federal Internal Revenue Service (FIRS) to usurp the statutory right of the service regarding the collection of N50.00 stamp duty.

According to her, the actions of FIRS will kill and bury NIPOST.

It appears that the inter-agency discussions to resolve the issue between the NIPOST and the (FIRS) have not yielded results.

Recall that the Minister of Communications and Digital Economy, Dr. Isa Ibrahim (Pantami), raised similar alarm earlier in the year, lamenting the encroachment of FIRS on NIPOST’s functions and rights.

The Minister wondered why the FIRS bypassed the Ministry and NIPOST to involve other stakeholders for the Stamp Duty collection process.

In his words: ‘‘They only invited few stakeholders that will support their interest who endorsed it saying that FIRS should collect Stamp Duty but we objected to it.

“I wrote a letter to the Minister of Finance saying that this cannot be tolerated; I also wrote the Senate President on the issue, we insisted on our stand.

“Though, we have no power to change government policy but we have power to challenge injustice and as far as I am concerned, this is one of the many injustices that should be challenged.

‘‘We insist that Stamp duty should be collected by NIPOST and it is an injustice if NIPOST is denied the opportunity.

NIPOST

Maimuna Abubakar

Flip to the tweets by the Board Chairman using a twitter handle @ref_ng, Abubakar recalls: “Section 11(1), 2 and (3) of the Stamp Duties Act 2004 (As Amended 2019) provides that all receipts, documents and registerable instruments upon which duty is liable to be imposed shall be donated using an adhesive postage stamp” and the affixed adhesive postage Stamp…”

According to her, there is no confusion with regards who should collect Stamp Duty as tax is ad-valorem (in percentage) while N50.00 is the cost of NIPOST stamp.

“NIPOST (collects) revenue (on) Stamps since colonial era. NIPOST are the sole custodians of national stamps, another agency printing and selling stamps is against the law of the land.

“What is happening, are we expected to keep quiet and let FIRS kill and bury NIPOST. We need to get our mandate back.

“I am worried for NIPOST; having sleepless night because of NIPOST, we need the general public to come to our aid, FIRS stole our mandate.

“Did you know that NIPOST had generated over N60billion in NIPOST-CBN account for the Federal Government?

“There is no where in FIRS Act or Stamp Duty Act where it’s so stated that FIRS can produce stamp or sale stamp.

“NIPOST is the only agency charged with the responsibility of such adhesive stamp and revenue for purchase of such adhesive stamp accrues to NIPOST and no other agency. See NIPOST (Act) for clarification.

“However, the payment of stamp duties as may be assessed made to FIRS being a government agency charged with the responsibility of collecting taxes.

“There is no confusion, tax is ad-valorem (in percentage) while N50.00 is the cost of NIPOST stamp.