The Federal Government says Nigerians will now pay stamp duties on WhatsApp messages, SMS, and messages via any electronic platform acknowledging receipt of funds.
This was disclosed in a circular published by the Federal Inland Revenue Service (FIRS), a copy of which was sighted by Igbere TV.
According to the circular, Nigerians will also be required to pay stamp duties on SMS acknowledging receipt of funds.
The revenue service also said that stamp duties will be paid on âPOS receipts, fiscalised device receipts, Automated Teller Machine (ATM) print-outsâ.
FIRS further gave illustrations of situations where Nigerians are expected to pay stamp duties, one of them reads;
âABZ Ltdâs chief accounting officer, after receiving a cash payment of N500,000 from Mr. XYZ on behalf of ABZ Ltd., composed a message which reads:- âreceipt of N500,000 is hereby acknowledgedâ and sent same to Mr. XYZ via WhatsApp messengerâ.
âIn this case, the WhatsApp message acknowledging the receipt of N500,000 constitutes a receipt for which stamp duty is payable.
âMr XYZ is required to make a disclosure of the details of the transaction using FIRS e-stamp duty platform or to the relevant stamp duties Commissioner. This will lead to assessment and payment of appropriate stamp duties and a consequential issuance of a stamp duty certificate or an acknowledgement.
âSuch certificate or acknowledgement will suffice as evidence that stamp duties have been paid and that the electronic receipt has been stamped appropriately.â
The agency adds that âall electronic dutiable instruments or receiptsâ, including e-mails, short message service (sms), instant messages (IM), any internet-based messaging service, are subject to stamp duty.
The circular, issued in April, clearly stated that âall printed receiptsâ and âall electronically generated receipts and any form of electronic acknowledgement of money for dutiable transactionsâ are liable to duty payment.
