FG Says Deposit Accounts Not Exempted From Stamp Duty

FG Says Deposit Accounts Not Exempted From Stamp Duty

Presidency has clarified that owners of deposit account of up to 10,000 naira are not exempted from the payment of 50 kobo stamp duty.

Director General of the budget office of the federation, Ben Akabueze, made the clarification at the KPMG Nigeria tax breakfast seminar on the 2020 nation’s budget and finance act in Abuja.

Akabueze explained that the finance act 2020 does not make any distinction between salary and current bank accounts.

 

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