FG TO PROSECUTE ANY PERSON WHO GIVE RECEIPT NOT DULY STAMPED
Sequel to reverting stamp duties to Nigerian Postal Service, it will soon be a criminal offence for anyone who failed to fix at least fifty naira adhesive stamp on all receipt evidencing transaction of one thousand naira (N1, 000) and above.
Section 89(2) of the Stamp Duties Act CAP S8, Laws of the Federation of Nigeria 2004 requires that every Receipt, Voucher, Contract note, Agreement etc. given by any person in acknowledgement of goods purchased or services rendered should be denoted by an adhesive Postage Stamp while Section 92 of that Act makes it a criminal offence punishable on conviction if any person: (a) Gives a receipt for any good/service up to one thousand naira(#1,000) but not duly stamped or (b) Refuses to give a receipt duly stamped where a receipt will be liable to duty or (c) Upon the payment to the amount of #1,000 or upwards, gives a receipt for a sum not amounting to #1,000 or separates/divides the amount paid with the intent to evade duty.
Speaking on the development, the Deputy Zonal Manager, Corporate Communications, Valerie Bolanle Ekeogu said, ‘’it is true that receipt in acknowledgement of goods purchased and services rendered must be denoted by postage stamp as an evidence of payment. For example, If you paid rent to your landlord, it is expedient that the receipt he gives must be denoted with fifty naira adhesive postage stamp.’’
‘’ The reason,’’ she explained, ‘if there is a problem and the tenant is taken to court, the stamp will be an evidence that the rent was paid at a stipulated date. Sometimes, landlord may allege that a tenant did not pay rent for a particular period but if the tenant has a receipt denoted with stamp, it can be proving in any law court that the tenant actually pay in the last one or two years as the case may be.’’
‘’Likewise landed property, we have seen instances where there has been court cases on landed property and the court will ask them to bring receipt as proof, the stamp is actually the evidence of payment. So, each time you are engaged in transaction that involve the items mentioned in Section 89(2) of the Stamp Duties Act which also include rent, lease or sales of landed property, you must insist on collecting receipt denoted by at least fifty naira stamp and failure to give a receipt not duly stamped is tantamount to a criminal offence punishable on conviction.’’
On when it will take effect, she said, ‘’we want to create awareness because Nigerians need to be fully informed on the new development. We need to let people know that from henceforth, adhesive stamp must be fixed on all receipts evidencing transaction of one thousand naira and above.’’
According to her, the Postal Service Act Cap N127 has empowered NIPOST to produce and sell adhesive stamps on behalf of the Federal Government for various purposes. So, these stamps are available in all NIPOST offices across the country. People will have no problem getting the stamps.
A statement issued by NIPOST on the notification of Stamp Duty Act recently also re-emphasized the determination of the Federal Government to effectively implement the Act.
The statement read thus, ‘’the Accountant General of the Federation in July, 2006 issued a Federal Treasury Circular directing all MDAs to be fixing #50.00 adhesive stamps on all receipts evidencing transaction of one thousand naira(#1,000) and above. Such receipts include contract, contract notes, charter party, lease or rent receipt, warrant of goods, notary act, bill of lading, memorandum of understanding.
Recall that sometimes in August 2020, there was a controversy between NIPOST and FIRS over who should collect stamp duties after NIPOST reacted to claims by the FIRS that it is operating an illegal stamp duty account.
However, NIPOST denied the accusation describing it as false and a statement meant to mislead the public. After that event, the Minister of Communications, Ali Pantani informed Nigerians that NIPOST has reclaimed the collection of stamp duty charges from FIRS.
That development brought to an end 3 years of disputes between two Federal Government agencies on who should rightly collect stamp duty on behalf of the Federal Government.
(Aljazirah)
