FIRS directs landlords, property agents to charge 6% stamp duty from tenants

The Federal Inland Revenue Service (FIRS) has directed landlords and property agents to charge six per cent stamp duty on all tenancy and lease agreements. FIRS Nigeria

FIRS gave the directive in a statement on Wednesday by Director, Communications and Liaison Department Abdullahi Ahmad.

Stamp Duties payment is enabled by the Stamp Duties Act 1939, as amended by numerous Acts and various resolutions contained in the Laws of the Federation of Nigeria. The SDA also provides a list of documents in its schedule and the duty payable on each. Ahmad said the burden of payment of the six per cent “lies on the beneficiary of the tenancy or lease agreement, whom the Stamp Duty Act identified as the tenant or renter.”

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