Labour lauds FIRS for boosting FG’s revenue

0
173

The Association of Senior Civil Servants of Nigeria (ASCSN) has commended the Federal Inland Revenue Service (FIRS) for boosting the government’s revenue via stamp duty collection.

Mr Alade Lawal, the association’s Secretary-General said in Lagos yesterday that the FIRS remittance of N66 billion to the Federation account within the first five months was remarkable.

“When juxtaposed against the N18 billion realised from stamp duty collection between January and December 2019, the N66 billion raked in between January and May will be recognised as a rare feat indeed.

“Also, it is a clear testimony that the FIRS management team is discharging its duties creditably,” Lawal said in a statement.

He, therefore, called on the Presidency, FIRS management, and the general public to disregard disinformation by some people masquerading as trade unionists to disparage the high profile performance.

“Indeed, these retrogressive elements desperately seeking relevance and public attention should be declared persona non-grata in a strategic organ of the government such as the FIRS,” Alade said.

The ASCSN boss noted that Section 4 (1) of the Stamp Duty Act, vested the FIRS with sole authority to impose, charge, and collect stamp duties.

According to him, this is upon instruments specified in the Schedule of the Stamp Duties Act where such duties relate to matters between a company and an individual, group, or body of individuals.

READ ALSO: Revenge killings worsening security problems in Southern Kaduna – Presidency

“The relevant tax authority in a state, by Section 4 (2) of the act is empowered to collect stamp duties on instruments executed by individuals at such rate as may be determined by the act.

“Previously, the FIRS collects stamp duties on instruments executed by an individual resident in the Federal Capital Territory (FCT).

“However, this has ceased upon the creation of the FCT Internal Revenue Service. What should become self-evident from the above is that all relevant legal instruments on stamp duties collection are vested on the FIRS,” he said.

Alade urged the FIRS management to keep up the good work and ensure that by the end of 2020, revenue collected from stamp duties should be unparalleled in the history of the organisation.

LEAVE A REPLY

Please enter your comment!
Please enter your name here