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ProfRem
Guest
Professor Ahmed Sale Gidado, lecturer with the National Open University of Nigeria, NOUN, Bauchi Study Centre has explained how Nigeria lost over N4trillion as a result of non-compliance on stamp duty in various sectors.
He stated this yesterday while speaking at the commemoration of the 2016 World Post Day at the Bauchi NIPOST office.
The university don said that non-compliance to stamp duty by government and private establishments over the years contributed a lot to the massive loss of revenue accruable to the government.
“In the banking sector, government lost about N2 trillion, aviation sector, about N5 billion, transportation sector and ports authority estimated to be about N2 trillion to the same non implementation of the Stamp Duty Act in the last four years, “he said.
He, however, urged the federal government to reform and restructure NIPOST in order to help shore up its revenue base as well as provide employment opportunities to Nigerians through an effective Stamp Duty Act implementation
He stated this yesterday while speaking at the commemoration of the 2016 World Post Day at the Bauchi NIPOST office.
The university don said that non-compliance to stamp duty by government and private establishments over the years contributed a lot to the massive loss of revenue accruable to the government.
“In the banking sector, government lost about N2 trillion, aviation sector, about N5 billion, transportation sector and ports authority estimated to be about N2 trillion to the same non implementation of the Stamp Duty Act in the last four years, “he said.
He, however, urged the federal government to reform and restructure NIPOST in order to help shore up its revenue base as well as provide employment opportunities to Nigerians through an effective Stamp Duty Act implementation