COVID-19 Relief: FIRS Plans Stamp Duty Palliatives For Tenants

(AGENDAWATCHDOG) – Consequent to the negative impact of COVID-19 lockdown restrictions on the economic life of Nigerians, the Federal Inland Revenue Service (FIRS), as part of its support for the war on the pandemic, is planning a stamp duty palliative package for tenants.

According to Mr Abdullahi Ahmad, Director, Communications and Liaison Department, the FIRS Executive Chairman Mr. Muhammad Nami, disclosed this plan which will grant stamp duty holiday to tenants in arrears.  

While empathizing with many taxable Nigerians and businesses in the country, consequent to the negative impacts of COVID-19, Nami hinted that the FIRS had consistently rolled out tax-related palliatives to relieve Nigerians of their tax burdens since the outbreak of the pandemic resulted in the lockdown of the Nigeria nay global economy, adding that contrary to suggestions in some quarters, stamp duty was not a creation of the current administration of President Muhammadu Buhari or the current leadership of the FIRS, but  dates back to colonial times in Nigeria, specifically since 1939.

Potential Impact: The stamp duty palliatives will relieve beneficiaries of their tax burdens since the onset of the lockdown of the Nigerian nay global economy, consequent to the outbreak of the COVID-19 pandemic.

Agenda Watchdog

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