Nigeria:
Stamp Duties Now Payable On Banking Transactions
20 January 2016
PwC Nigeria
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In an attempt to raise non oil revenue, the Central Bank of
Nigeria has directed all banks to enforce collection of N50 stamp
duty for receipted transactions including online transfers of
N1,000 and above effective immediately. See link below for
details.
CBN Directive on stamp duties
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Offences And Penalties Under The Stamp Duties Act
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Stamp duties are indirect taxes/charges for a stamp or seal applied on a written or electronic document which if executed, makes it a legal document and will be admissible in any court of law.