The Federal Government has approved collection of stamp duty charges on all transactions in the nation's seaports.
Even tough details and modalities for collection were still being worked out, Shipping Position Daily confirmed authouritatively last week that the new payment is pegged at N50 duty stamp on every document pertaining to transaction through Nigerian Ports Authourity to terminal operators, shipping companies and the Nigeria Customs Service.
The Federal Government has approved collection of stamp duty charges on all transactions in the nation's seaports.
Even tough details and modalities for collection were still being worked out, Shipping Position Daily confirmed authouritatively last week that the new payment is pegged at N50 duty stamp on every document pertaining to transaction through Nigerian Ports Authourity to terminal operators, shipping companies and the Nigeria Customs Service.
Sources close to the promoters of the new payment told our correspondent that it is in line with the provision of section 89 of the stamp duty Act cap S.8 law of 2004.
The stamp duty charge is expected to be collected by both the Nigerian Port Authority (NPA) and the Nigeria Customs Services respectively on behalf of the Nigerian Postal Service (NIPOST).
Meanwhile NIPOST has accredited a private firm; Goldtrack Limited as its official postal agent on the duty stamp.
The private firm is expected to provide and supply the specialised stamps to port users so as to stream line its collection and availability.
Shipping Position Daily chanced on a sensitization briefing to shipping agents at one of the daily berthing meetings last week at Tin Can port in Lagos.
The chief executive of the collecting firm; reportedly told the meeting that the stamp duty collection is in line with the NIPOST Act. The meeting also had the Port Manager of Tin Can Island port; Mr. Babatunde Longe in attendance.
The company told the meeting that, apart from revenue collection for government, it is also meant to restructure postal services across country which he described as being taken over by the internet.
He noted that in every transaction on shipping documentation and customs documentations, there will be N50 stamp duty charge.
He explained to the representatives of all shipping companies operating at Tin Can Island Port in Lagos that the charge is an added avenue for government to earn revenue.
Responding, Port Manager, Tin Can Island Port, Babatunde Longe, appealed to the stakeholders to assist government in its quest to collect the revenue.
The port manager also said that there is no way stakeholders can challenge what the government has implemented, pointing out that the NPA is not competent to change what government has put in place.
He said "when laws are put in place by the federal government of Nigeria, we just have to obey it”.
He also acknowledged that the stamp duty collection is a way of revitalising the moribund Nigeria Postal Service.
Shipping Position Daily also gathered last week that, collection of the levy has already taken-off at the airports.
It was also confirmed that, a circular has already been sent out to all government agencies that are connected with revenue collection at the seaports, airports and border posts from the office of the Accountant General of the Federation.
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