36 States urge FG to refund N176bn stamp duty fees

The tax war between the Federal Government and some States has taken a new twist, as 36 States of the federation, through their Attorneys-General, have dragged the Federal Government to the Supreme Court over alleged failure to remit funds generated from stamp duties into their respective accounts.

The State governments have demanded that the Federal Government refund over N176 billion stamp duty proceeds received into its coffers between 2015 and 2020.

According to a suit filed before the Supreme Court on Thursday, the attorneys representing the 36 State governments asked the court to determine whether or not they are the sole authority to administer and collect stamp duties on all transactions involving individuals and persons within their respective States.

The States have also requested that the apex court ascertain whether or not they are entitled to 85% of all stamp duties collected on electronic money transfer levy, on electronic receipts or electronic transfers for money deposited in deposit money banks and financial institutions.

The States are contending that they are legally vested with the authority to administer and collect stamp duties on all transactions involving individuals and persons within their territories, and not the Federal Government.

Upon determination of the legal questions, the states want the Supreme Court to declare that they are the sole authorities entitled to administer and collect stamp duties on all transactions involving individuals within their respective States.

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