FIRS to Collect Stamp Duty from Tenants and Other Transactions

Federal Inland Revenue service (FIRS) has directed landlords and property owners across the country, to start charging a six per cent stamp duty on all tenancy and lease agreements

They are to collect the stamp duty from their tenants, and pay them into the coffer on firs

Firs in a statement says the stamp duty is payable on the total value of rents or lease

According to firs, stamp duty with different percentage is also payable on other transactions

These, include the certificate of occupancy, gift of land, valuation of property, memorandum of understanding and legal mortgage

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