21 January, 2016

Bank Customers To Pay N50 Stamp Duty On Received Funds - FG

Through the Central Bank of Nigeria, the Federal Government on Tuesday, imposed stamp duty of N50 on bank customers for money received into their account.
Bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques.

This order was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”.

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