LEGIT NG
There are indications that the cost of imported goods such as food items and used vehicles is set to rise with N50 Stamp Duty imposed on every N1,000 receipt by the Nigerian Ports Authority.
The NPA and the Trucks Transit Parks (TTP), in a notice to all stakeholders on Monday, August 14, 2023, disclosed the development.
New directive is a policy of the Nigerian government
TTP management said that the NPA directed it to begin the implementation of the directive immediately on the denotation of all issued receipts of N1,000 and above in value of N50.
According to TTP, the directive is the Federal Ministry of Finance policy issued two years ago to all heads of Ministries, Department and Agencies (MDAs).
The notice partly reads:
“In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular (dated April 19, 2021) directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service (NIPOST).
