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Finance Act: Stamp Duty Collection – Fresh Crisis Looms

SILIVALLY / / Finance Act: Stamp Duty Collection – Fresh Crisis Looms (7 Views)

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Finance Act: Stamp Duty Collection – Fresh Crisis Looms by : 9:44 am On February 23, 2022

From Adanna Nnamani, Abuja

As the battle on stamp duty collection intensifies, there are indications that the Federal Government and a trade union may be heading for a collision course over whose mandate it is to collect stamp duties and charges.

The Federal Inland Revenue Service (FIRS) and Nigeria Postal Service (NIPOST) have for a while now been embattled over who is authorised by the law to assess, collect and account for the stamp duty charges.

NIPOST was stripped of the capacity with the recent signing of the Finance Act by President Muhammadu Buhari.

But the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC), an affiliate of TUC, has opposed the development.

Speaking to journalists in Abuja at the weekend, the National Treasurer of TUC, who is the immediate past President-General of SSASCGOC, Mohammad Yunusa, said that the Federal Government has already been dragged to court over the matter.

He said, ‘’The problem we have is the one that is connected to the Federal Government directly which is about the Finance Act. The Finance Act has given the primary functions of NIPOST which is one of our branches to FIRS and we have challenged the government on this matter even to the court that the Finance Act must be repealed.

‘’You can’t take the statutory function of NIPOST and give it to other agency in the disguise of the Finance Act, we can’t accept it. Is there any organisation by law that is allowed to produce and sell stamps in Nigeria apart from NIPOST? That’s what they are trying to do but it is not acceptable to us.’’ In addition, Yunusa disclosed that his union would do everything possible in its rights to ensure the move by the government to privatise the Nigerian Communications Satellites are not achieved.

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