I'm sharing this with you because i know is of important to all of us.
The Central Bank of Nigeria (CBN) recently announced the implementation of a N50
stamp duty on every transaction starting from
N1,000..
Here's what you need to know about the CBN’s N50 stamp duty:
1. This announcement affects only current account holders and not savings account
holders.
2. It does not affect salary accounts or student savings accounts.
3. The new policy includes all receipts by a bank or financial institution in acknowledgement of. services rendered, in respect of teller deposits and electronic transfers for the value of N1000 and above.
4. The policy complies with the provisions of the Stamp Duty Act 2004 and the Federal
Government of Nigeria’s (FGN) Financial Regulation of 2009.
5. The N50 stamp duty will be charged per transaction and not per volume that is from
N1,000 and above.
6. Under the schedule to the Stamp Duty Act 2004, some exemptions specified includes
payments of salaries and wages, payments, deposits, or self-to-self transactions, whether inter or intra bank.
0 Comments:
Thank for visiting. Your feedback/comments on this website means a whole lot to us, don't walk away without comment, it ginger us to do more.
For enquiry/advert Email us @ Abdulmalikamodu@gmail.com you can also submit your stories and guess post using the above Email address. Thank for visiting www.nairatrace.com