FG To Support States To Recover Backlog of Stamp Duty
The Federal Government has expressed readiness to support States of the Federation, as may be required, in recovering backlog of Stamp Duty to generate more revenue for the country.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami, made this known in a statement issued and made available to newsmen through his Special Assistant on Media and Public Relations, Dr. Umar Gwandu.
Malami called for the support and cooperation of the Attorney-Generals of the thirty-six states in country as well as the Joint Tax Board on the proposed audit and recovery of backlog of stamp duties from 15th January, 2016 to 39th June, 2020.
According to the statement, Malami in a virtual meeting with the States Attorney-Generals, and other stakeholders, cited Section 111 of the Stamp Duty Act which states that “ all duties, fines, penalties and debts due to the Government of the Federation imposed by this Act shall be recoverable in a summarily manner in the name of the Attorney General of the Federation or the State”.
It would be noted that, on June 30, the Federal Government had set up an Inter-Ministerial Committee on the Audit and Recovery of backlogs of stamp duties.