The Federal Government says it is ready to provide support to states for recovery of the backlog of stamp duties from January 15, 2016, to June 29, 2020, in order to generate more revenue for the country.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami, gave the assurance on Tuesday at a virtual meeting with the states’ Attorney-Generals, the Chairman, Federal Inland Revenue, FIR, and members of the Joint Task Board.
In a statement issued by Malami’s media aide, Umar Gwandu, the AGF appealed for the support and cooperation of the states’ Attorney-Generals and the Joint Tax Board on the proposed audit and recovery of the backlog of stamp duties from January 15, 2016, to June 29, 2020.
The Federal Government had earlier set up an Inter-Ministerial Committee on the Audit and Recovery of backlogs of stamp duties chaired by Malami on June 30, 2020.
Membership of the committee was drawn from the Federal Ministry of Finance, Budget and National Planning, Office of the Accountant General of the Federation, Secretary to the Government of the Federation, Revenue Mobilization, Allocation and Fiscal Commission, Nigerian Financial Intelligence Unit, Central Bank of Nigeria and Federal Inland Revenue Serves.
The stamp duties were originally captured in the Stamp Duties Act 1939 and amended by numerous Acts and various resolutions and contained in the Laws of the Federation of Nigeria 2004.
