NO..you're wrong! I copied the article from my blog to this place just to educate people like YOU.

richard870:
You wrote all these poo just to promote your blog...shameless LINDA-IKEJI-WANNABE

Lol...

HerexG:
Chai! Owu don blow our government, sote dem don turn agbero wey dey collect 50naira

Ofcourse, the stamp duty charge does not affect payment of other taxes.

macphilip:
Is there still any need to pay tax after paying stamp duty

Thanks, that was the intent and purpose
Of the post.

Benjom:
Thanks for the detailed explanation OP. Now, a layman can understand.

You're welcome. Am glad it was educative.

kunzo:

Thanks for the info.

Many Nigerians are yet to have a proper understanding of the N50 Stamp duty Act.

Read all the facts about the Stamp duty in 10 simplified steps here: https://www.nairaland.com/2942800/10-important-things-need-know

enieme:
I got a debit alert twice from my bank reading something like this-

A debit of NGN50.00 occurred on your A/C XXXXXX. Date:17-02-2016 at 08:43 Details:CBN STAMPDUTY:21JAN2016/ S710820

A debit of NGN50.00 occurred on your A/C XXXXXX. Date:19-02-2016 at 03:58 Details:CBN STAMPDUTY:03FEB2016

I don't know what the stamp duty is for and why I was only charged for the months of January and February when I've been using the account for a long time.
What aroused my curiosity more is the fact that the transaction was made simultaneously with just 2 days interval.
Fellow nairalanders, did any of you get similar message?

xpac01:
Rubbish!!!

Lol

As expected, many Nigerians have expressed their dissatisfaction on the announcement by CBN instructing all DMBs (Deposit Money Banks) in the country to place a N50 charge on every transaction from N1,000.

In order to avoid any further confusion, here is what you need to know about the CBN’s N50 stamp duty:

1. It is an Act that was passed into law called the Stamp Duties Act 2004 and Federal Government Financial Regulations 2009, but now being implemented in 2016.

2. The Stamp Duty charge is not being imposed by the Banks, but by the Federal government through the CBN.

3. The imposition of the Stamp Duties Act at this time is to enhance the governments revenue generation drive which has become necessary due to the fall in global oil prices.

4. All receipts, whether Cash or Electronic transfers from N1000 and above into a Current account is eligible and will be charged N50 stamp duty.

5. Only Current accounts are eligible to be charged Stamp Duty on all receipts.

6. The following receipts are exempted from the imposition of Stamp Duty:

a. Deposits or Transfers made by SELF into another account in the same bank and/or other banks.
b. Any Transfers into a Savings account.
c. Any Withdrawals from a Savings account.

7. The Stamp Duty is charged only to the receiving account i.e. the account receiving the money.

8. The N50 Stamp Duty will be charged per transaction and not per volume; that is any transactions from N1,000 and above.

9. The monies collected does not belong to the Banks, but the Federal Government. The Banks are only a channel for collecting and remitting the money to the Federal Government.

10. Under the schedule to the Stamp Duty Act 2004, other exemptions specified includes payments of salaries and wages etc.



SOURCE: http://olaitankolawole.com/10-important-things-you-need-to-know-about-the-new-n50-stamp-duty/

This is serious o..

Nice one..

Get well soon sir..

I concur..

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Its disheartening, a friend was telling me yesterday that he will be paying about N70k for his daughter of 1year and 4 months (for first term) for enrolment into a playgroup.

Wise words from a wise woman..

dollyjoy:
It a no with a capital N.



Men are jealous creatures btw if one must do that then she ought to be sure the guy wouldnt know about it.maybe pretend like she want to enter a cab,after the guy must have gone before placing a call to the guy.



Either way,it's not a wise thing to do.it can breed distrust and make room for grudges.

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