Nigerians will now pay stamp duty on ATM printouts, some WhatsApp messages

Nigerians will now paid stamp duty on ATM printouts, some WhatsApp messages, says FIRS:The Federal Inland Revenue Service (FIRS) said Nigerians will now pay stamp duties on WhatsApp messages, short message service and messages on any electronic platform acknowledging receipt of funds.
The revenue service also mention that stamp duties will be paid on POS receipts, fiscalised device receipts, Automated Teller Machine (ATM) print-outs.
Information circular published by the agency say that Nigerians will also be required to pay stamp duties on SMS acknowledging receipt of funds.
FIRS gave illustrations of situations where Nigerians are expected to pay stamp duties, one of them says: UZO Limited, chief accounting officer, after receiving a cash payment of N800,000 from Mr. John on behalf of UZO Limited, composed a message which reads: receipt of N800,000 is hereby acknowledged’ and sent same to Mr. John via WhatsApp messenger. In this case, the WhatsApp message acknowledging the receipt of N800,000 constitutes a receipt for which stamp duty is payable.
“Mr. John is required to make a disclosure of the details of the transaction using FIRS e-stamp duty platform or to the relevant stamp duties Commissioner. This will lead to assessing and payment of appropriate stamp duties and a consequential issuance of a stamp duty certificate or an acknowledging.
Such certificate or acknowledgement will suffice as evidence that stamp duties have been paid and that the electronic receipt has been stamped appropriately.”
The agency also said that all electronic dutiable instruments or receipts my including e-mails, short message service, instant messages, any internet-based messaging service, are subject to stamp duty. The circular, issued in April mention that; all printed receipts and all electronically generated receipts and any form of electronic acknowledgement of money for dutiable transactions are liable to duty payment.


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