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Nigeria: Stamp tax (duty) on leases

Nigeria: Stamp tax (duty) on leases

The Federal Inland Revenue Service (FIRS) on 19 July 2020 issued a notice concerning stamp tax (duty) provisions.


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The Finance Act, 2019 authorized the FIRS to impose, charge, and collect stamp tax (duty) with regard to instruments that have been executed by companies or executed between a company and an individual.

The July 2020 notice is intended to clarify application and administration of stamp taxes on instruments and transactions. The FIRS notice provides a “quick reference” that includes a listing of transactions and instruments subject to tax and the applicable tax rates—including leases that are subject to an ad valorem stamp tax rate of 6%.

Read a July 2020 report prepared by the KPMG member firm in Nigeria

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