{"id":82897,"date":"2021-09-16T09:07:34","date_gmt":"2021-09-16T08:07:34","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=82897"},"modified":"2021-09-16T09:43:04","modified_gmt":"2021-09-16T08:43:04","slug":"no-recoveries-made-on-stamp-duty-since-2016-malami-writes-governors","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/16\/no-recoveries-made-on-stamp-duty-since-2016-malami-writes-governors\/","title":{"rendered":"&#8216;No recoveries made on stamp duty since 2016&#8217; &#8211; Malami writes governors"},"content":{"rendered":"<p>Attorney-general of the federation and minister of justice, Abubakar Malami has stated that the federal government is yet to recover stamp duty funds made from January 15, 2016 to June 30, 2020.<\/p>\n<p>Recall that the 36 states through their attorneys-general sued the AGF over the alleged failure of the government to remit funds generated from stamp duties into state accounts.<\/p>\n<p>The stamp duty saga is coming amid\u00a0conflict between some states and the\u00a0<span data-preserver-spaces=\"true\">Federal Inland Revenue Service <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/09\/states-collecting-vat-will-lead-to-double-taxation-for-businesses-says-firs\/\">(FIRS)<\/a> over the collection of value-added tax (VAT).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the suit filed before the supreme court on August 24 and marked SC\/CV\/690\/2021, the state attorneys are arguing that they are \u201cthe sole authority to administer and collect stamp duties on all transactions involving individuals\/persons within their respective states.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">They also want the court to order FG to pay \u201call the sum of monies amounting N176,067,400,000 representing ascertained and admitted collected stamp duties on individual persons\u2019 transactions within their respective states for the period of 2015- 2020 and thereafter till the time of the judgment of this honourable court or any other sum as the plaintiffs may be found entitled by the honourable court.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, in a statement on Wednesday, Umar Gwandu, Malami\u2019s spokesperson, said the AGF has written to all 36 state governors.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to the statement, the letters were written pursuant to the provision of Section 111 of the Stamp Duty Act which provides that \u201call duties, fines, penalties and debts due to the government of the federation imposed by this Act shall be recoverable in a summary manner in the name of the attorney-general of the federation or the state\u201d.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gwandu said what the AGF did was to \u201cactivate those powers, conduct the audit and recovery of back years stamp duty in collaboration with stakeholders.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe recoveries are being conducted for the federal ministries, departments, agencies and financial institutions. At this stage, liabilities are being established, and no actual recovery has been made,\u201d Gwandu said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe federal government has set up an inter-ministerial committee on audit and recovery of back years stamp duties from January 15, 2016, to June 30, 2020,\u201d the statement read.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cMembers of the committee were drawn from office of the AGF in collaboration with relevant agencies including the office of the secretary to the government of the federation, Federal Inland Revenue Service (FIRS), office of the accountant-general of the federation, ministry of finance, Central Bank of Nigeria (CBN), Revenue Mobilization and Fiscal Allocation Commission, among others.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the letter to the governors, Malami was quoted to have said: \u201cPursuant to Mr president\u2019s approval and directives, I also wish to request your excellency to direct the state ministries, departments, agencies, and regulatory institutions of the financial sector to engage and grant access to the appointed recovery agents for the purpose of the audit and recovery of stamp duty to ensure that all established liabilities are remitted as appropriate.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While conceding that the states have similar powers with the AGF with respect of stamp duty of ministries, departments, agencies and financial institutions in their respective states, the statement also stated that the AGF organized a meeting with state attorneys \u201cin view of the need to provide a comprehensive overview of the process and to proper understanding the task.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Attorney-general of the federation and minister of justice, Abubakar Malami has stated that the federal government is yet to recover stamp duty funds made from January 15, 2016 to June 30, 2020. Recall that the 36 states through their attorneys-general sued the AGF over the alleged failure of the government to remit funds generated from [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":3796,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1686,17986,1180,2171,15406],"class_list":["post-82897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-abubakar-malami","tag-attorneys-general-in-states","tag-firs","tag-stamp-duty","tag-vat"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>&#039;No recoveries made on stamp duty since 2016&#039; - Malami writes governors<\/title>\n<meta name=\"description\" content=\"Attorney-general of the federation and minister of justice, Abubakar Malami has stated that the federal government is yet to recover stamp duty funds made from January 15, 2016 to June 30, 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/16\/no-recoveries-made-on-stamp-duty-since-2016-malami-writes-governors\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;No recoveries made on stamp duty since 2016&#039; 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