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Nigeria - Register for a Stamp Duty Tax

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Procedure[edit]

The law stipulates that all equires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped and taxes deducted or to be deducted and paid to government.

Any written document that is not stamped is not allowed to be received in any judicial proceeding in Nigeria until the stamp duty and the resulting penalty for the non-payment of the stamp duty is paid. Tax Forms A will be supplied free of charge to tax payer.if you are the Real estate developer you should approach the relevant Tax Offices in your various States (including the FCT) where they operate to collect tax Form A, for distribution to your Real Estate. You should certify the correctness of the stamp duty and declared in the forms by your Real Estate to ensure that correct reliefs are granted the owners of the property.


Owner-occupier properties occupied by pensioners, family compounds, properties occupied by recognised traditional rulers, public libraries, cemeteries and burial grounds, and properties owned and occupied by a religious body but used exclusively for public worship or religious education, are exempted from the provisions of the Land Use Charge Law in Nigeria.


The receiving officer should take all of them, stamp them and give you back one of the P10Ds for your files. The manual method requires you to pay at the bank and then go back to relevant tax offices to confirm the submission. Remittances must be done within 10 days of the end of each month in order to prevent payment of interest and penalty for late payment. A receipt must be collected by the employer for any remittance made.



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Required Documents[edit]

The registration requirements are as follows:

  • A copy of certificate of incorporation.
  • Letter of application for registration.


Upon completion of registration, the tax payer is issues with Identification Number.


Office Locations & Contacts[edit]

Inland Internal Revenue Service

Address

The Good Shepherd House,

Block H,Plot H1,CBD,

Alausa,Ikeja,Lagos

Contact Details

Telephone: 08082572444

Telephone: 08059889830, 07034954595

You can visit this link for offices located national wide

Website:http://www.firs.gov.ng/contactus/Pages/FIRS%20Offices.aspx


JOINT TAX BOARD

Head Office

Plot 1863, Lee Kuan Yew Street Asokoro District.

(Off Mohammed Mahatir Street)


Asokoro, FCT, Abuja. Nigeria,

Telephone

Tel:0700CALLJTB

Tel:07002255822

Fax: +234 9 4133230


Email:enquiries@jtb.gov.ng

Website:http://www.jtb.gov.ng/stamp-duties-act


NIGERIA CUSTOMS SERVICE

Headquarters

Abidjan Street,Wuse,

P.M.B. 26,

Zone 3,

Abuja - FCT

Tel: 09 5234694

Email:info@customs.gov.ng

Email:pro@customs.gov.ng



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Eligibility[edit]

All employers of private and government institution.



Fees[edit]

Generally, Stamp Duties is charged at the rate of 75 kobo for every N200 of the consideration of certain real estate transactions like mortgages, while for conveyances or the transfer or sale of real property, the stamp duties rate is 75kobo for every N50. The Stamp Duties rate for lease and rental agreements is 16kobo for every N200 of the consideration of the lease or rental agreement. - See more at:

A flat rate of 2% as Capital Gains Tax and 2% as Stamp Duties Tax are paid on the gross profit , a new owner of a real property in Lagos State will also be liable to pay 3% of the accepted consideration of the property as Registration fee, and a further 8% of the value of the property as Governor's consent fee.



Validity[edit]

  • Valid for one year



Documents to Use[edit]

Please attach documents that can be used by people. e.g. links



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Sample Documents[edit]

Please attach sample completed documents that would help other people.



Processing Time[edit]

processing takes one days



Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	



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Instructions[edit]

The Stamp Duties Act requires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped.



Required Information[edit]

  1. Name of Taxpayer
  2. Taxpayer Identification Number

Business Name or Trade Name of Taxpayer

  1. Status
  2. Bank Details
  3. Name of Bank
  4. Bank branch
  5. Account Number
  6. Type of Employment
  7. Total Income Chargeable Income Total Tax Payable
  8. Details of Property paid and Stamp Duty deducted from any written instrument.



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Need for the Document[edit]

The Stamp Duties Act requires that all written instruments, including instances where any property or interest in property is or are transferred or leased to any person, must be stamped.

Generally, Stamp Duties is charged at the rate of 75 kobo for every N200 of the consideration of certain real estate transactions like mortgages, while for conveyances or the transfer or sale of real property, the stamp duties rate is 75kobo for every N50.

The Stamp Duties rate for lease and rental agreements is 16kobo for every N200 of the consideration of the lease or rental agreement. Any written document that is not stamped is not allowed to be received in any judicial proceeding in Nigeria until the stamp duty and the resulting penalty for the non-payment of the stamp duty is paid.



Information which might help[edit]

There are fines and other penalties for any failure to pay stamp duties on any written instrument that is not exempted from the payment of stamp duty. Again in Lagos State, the flat Stamp Duty rate of 2% of the consideration of the property transaction is charged when applying for Governor's consent to the transfer of any interest in a landed property.

Lagos State Land Use Charge

The Lagos State Land Use Charge Law consolidated all real property with all land Based Rates and Charges which were formerly charged under the Assessment Law, the Land Rates Law, the Neighbourhood Improvement Charge Law and the Tenement Rates Law, into one single Property Land Use Charge ("LUC"). The Annual Charge Rates Notice, published in furtherance of the Land Use Charge Law, among other things, prescribes various Land Use Charge Rates for different kinds of properties in Lagos State.



Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External Links[edit]

http://www.oseroghoassociates.com/articles/34-property-taxes-in-nigeria

http://www.jtb.gov.ng/stamp-duties-act

http://www.detailsolicitors.com/media/archive1/articles/article15.pdf

http://www.nigeria-law.org/BusinessInNigeriaTaxation.htm



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Others[edit]

More information which might help people.