It is clear that the stamp duty inspires and ignites controversy everywhere. The Stamp Duty Act of 2004 was a major attempt at reviving it. However, in a lead judgment, Justice Saulawa held that the Stamp Duty Act imposed no such duty on the banks. If it gets the stamp duty into its portfolio, it will increase what accrues to the agency. As these controversies were not enough, merchants started deducting the sum of N50 as stamp duty on Point-of-Sale transactions.

Source: Punch January 07, 2020 00:00 UTC