HomeNEWS36 States Sue FG Over Stamp Duty

36 States Sue FG Over Stamp Duty

The 36 state governments have sued the Federal Government over its alleged failure to remit funds generated from stamp duties into the state accounts.

The states, through their Attorneys-General, are contending that they, and not the Federal Government should collect the stamp duties.

In a suit filed before the Supreme Court on Thursday, they asked the court to determine whether or not they are the sole authority to administer and collect stamp duties on all transactions involving individuals and persons within their respective states.

They have also asked the court to ascertain whether or not they are entitled to 85% of all stamp duties collected on electronic money transfer levy, on electronic receipts or electronic transfers for money deposited in deposit money banks and financial institutions.

The states also asked for “a declaration that the defendant is not entitled to collect, administer, or keep the proceeds of any stamp duties on transactions involving individuals within the respective states of the plaintiffs or any manner interfere with the Plaintiff’s right and authority in the administering the provision of Section 4(2) of the Stamp Duties Act Cap. S8 Laws of the Federation of Nigeria.

“A declaration that the plaintiffs are entitled to all the sums of money collected by the defendant as stamp duties through whatever source or means in their respective states from 2015-2020 and thereafter till the time of the judgment of this honourable court with respect to individual persons’ transactions,” the Statement of Claims, read in part.

This comes amid the conflict between some states and the Federal Inland Revenue Service (FIRS) over the collection of Value-Added Tax (VAT).

The Supreme Court is, however, yet to fix a date for the matter to be heard.

Share this story
Written by

Signature TV is a multi-media company, owners and operators of signaturetv.org and producers of The Signature Show on AIT and Corruption Tori. Our programmes are broadcast on the AIT Network and on Seven NTA stations across the country. We are content providers for a number of television networks and some State TV stations, with a respected 24/7, high online and offline followership. We are also Communications/Media Consultants to MacArthur Foundation, Ford Foundation and OSIWA.

No comments

Leave a Reply

Daily Updates

Subscribe to get news updates