STAMP DUTY ADMINISTRATION FOR FINANCIAL INSTITUTIONS IN NIGERIA: WHAT YOU NEED TO KNOW

Stamp duty is a levy on written and electronic documents or instruments. Stamp duties are levied on instruments on either Ad-valorem or flat rate basis and the body in charge of the administration of stamp duties is either the federal Inland Revenue Service (FIRS) (duties on instruments for transactions between corporate bodies and individuals, group, or body of individuals) or the State Internal Revenue Service (duties on instruments for transactions between individuals). 

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