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N50 Stamp Duty Imposed On Bank Customers By FG - Business (10) - Nairaland

Nairaland Forum / Nairaland / General / Business / N50 Stamp Duty Imposed On Bank Customers By FG (62674 Views)

CBN Introduces New Charges On Bank Deposits And Withdrawals / N50 Stamp Duty: 10 Things You Need To Know / N50 Stamp Duty: CBN Exempts Salary Accounts, Self-to-self Transactions (2) (3) (4)

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Re: N50 Stamp Duty Imposed On Bank Customers By FG by spreado(m): 8:20am On Jan 20, 2016
Bleep it, im leavin dis country.. mke una nor beg me
Re: N50 Stamp Duty Imposed On Bank Customers By FG by darlingtonIIV(m): 8:23am On Jan 20, 2016
grafikii:

Ur sense wont stop u from paying 50. If u like dont hold this government accountable, next time you will be paying 2000 naira
i see that you're now a complete APC zombie...and afterall zombies don't have sense.
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There are over 160million Nigerians, and atleast 100million own bank accounts, now multiply 100million with 50 and you'll see that this is pure daylight robbery.
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,
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But ofcourse, you're a zombie.
You dont have sense.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by Nobody: 8:25am On Jan 20, 2016
Praktikals:

Correct yourself, its 2023 cool
in ur dreams
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Nobody: 8:26am On Jan 20, 2016
KelvinC1:


I am with you bro
don't worry.. 2019 is near
remember..
If you see someTHING
say someTHING.. I concur
correct guy

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by 4nobody4every1: 8:29am On Jan 20, 2016
grin grin cool
Re: N50 Stamp Duty Imposed On Bank Customers By FG by lomprico(m): 8:39am On Jan 20, 2016
cana882:
It's vry bad... tho d country has to generate funds from any sector to balance fall of oil prices but 50naira per transaction is too much

Hope filling stations won't start collecting stamp money sha
For our useless politicians to maintain their extravagant lifestyle at the expense of the common masses.
CHANGE!!!!
The only way they will defend this evil act is to blame GEJ.

2 Likes

Re: N50 Stamp Duty Imposed On Bank Customers By FG by Praktikals(m): 8:43am On Jan 20, 2016
lofty900:
in ur dreams
If the N50 means so much to you, simply ask the depositor to write your name in the Account Name and also repeat it as Depositor's name.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by lomprico(m): 8:45am On Jan 20, 2016
OAUTemitayo:
Very sensible.
Oil price is going down and we need to up our revenue moves
Listen to yourself! undecided sophisticated fool.
And to think that 19 people(for now) here liked this foolish post is appalling.

2 Likes

Re: N50 Stamp Duty Imposed On Bank Customers By FG by cagunwa(m): 8:48am On Jan 20, 2016
Please, where else in the world is this policy practised? Can you see how clueless and inhuman our government can be? Can someone advise the president on this before he creates a problem that will swallow him up. Nonsense!

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Re: N50 Stamp Duty Imposed On Bank Customers By FG by lomprico(m): 8:49am On Jan 20, 2016
PastorOla1:
I AM READY READY AND WILL TO CONTRIBUTE TO THE SUCCESS OF PMB GOVERNMENT SINCE I KNOW BODY WILL SWALLOW ANY MONEY REALISED. MANY THANKS TO PMB IN HIS FIGHT AGAINST CORRUPTION. GOD CONTINUE TO BLESS NIGERIA
.
If truly u are a pastor, you are the type that scame ur congregation. Nonsense!

2 Likes

Re: N50 Stamp Duty Imposed On Bank Customers By FG by Nobody: 8:57am On Jan 20, 2016
Isn't there to challenge this insanity in court?
Now, I'm convinced this is a truly a dullard-led govt.
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Justiyke4u: 9:15am On Jan 20, 2016
You cannot rob peter to pay paul

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by Nobody: 9:16am On Jan 20, 2016
Praktikals:

If the N50 means so much to you, simply ask the depositor to write your name in the Account Name and also repeat it as Depositor's name.
sharp guy

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by free13: 9:22am On Jan 20, 2016
#Chanji.
Re: N50 Stamp Duty Imposed On Bank Customers By FG by tunnamaniah(m): 9:23am On Jan 20, 2016
bllaster:


Nigeria is no UK and US, beside they tax according to how well you have earned.
but with this method used by buhari both high and low earners pay same rate.

use your head zombie
Do you have any idea what there government is offering there citizens over there, nigerian government is offering its citizens close to nothing and they want to take our money

mtchewwwww

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by sirmax1759: 9:26am On Jan 20, 2016
eyeview:
And this is in addittion to VAT paid by each customer on transactions?


Instead of giving to the masses, they are looking for ways to collect more from the masses....
9ja!

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by tiptopy03(m): 9:30am On Jan 20, 2016
This is a very callous and ridiculous decision. What have they done to earn back from the Public? Someone like me that most of my transactions are done via bank, how much will they be having from my peanut's earning? When they start to deduct 50naira from my hard earned gain, how much will be my final profit? What benefit have I gotten from been a Nigerian? This is food for thought.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by customised87: 9:31am On Jan 20, 2016
Ezeebube2:

“For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts;
It should be noted that these charges are only payable by receiving accounts
;

http://www.vanguardngr.com/2016/01/fg-imposes-n50-stamp-duty-on-bank-customers/

I believe this means the charges wont be deducted from savings accounts.
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Jeffchuks: 9:46am On Jan 20, 2016
lofty900:
So if I do bank transactions 50 times in a month, it's 50×50=#2500 gone just like that? I've never seen a reasonable government that turns to stealing from the masses to generate income. Continue, I can't wait for 2019

Much as I know am not in support of the policy, but this happens to be the case in UK too, ask your friends working there to confirm, you pay tax literally on everything.

It would have been better if they have fixed the basic amenities first before coming up with such policy. To me, N50 is too much per a thousand naira transaction with the situation of our economy.

This is my personal opinion though.
Re: N50 Stamp Duty Imposed On Bank Customers By FG by morkaz(m): 9:47am On Jan 20, 2016
This is ridiculous. This can make banking not attractive especially to traders who makes daily deposits. cry cry angry

2 Likes

Re: N50 Stamp Duty Imposed On Bank Customers By FG by kechywillz(m): 9:47am On Jan 20, 2016
kechywillz:
This government is very wicked to its citizens. We are still groaning on fuel price which is selling at N120 here,increase on electricity bills,soon to be installations of toll gates,high rate of unemployement,increase on transportation fare,hike on food stuffs and other consumable materials in the market. This government couldnt come up with a benefitting programme that will affect the masses instead they are adding more pepper and salt to our injuries. Lord knows since the history of election on this country i have never voted b4,but come 2019 am voting this govt out.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by Klogo: 9:49am On Jan 20, 2016
I think some of us need to worry less, considering the 'saving account' part of the statement. What is yet ambiguous is that it says withdrawals/transfers but neglects deposits. Maybe someone could interpret this better.

For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts;

Nevertheless, the policy is insane.

*modified*
Another means to siphon poor masses, a variant of fuel subsidy removal scam
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Summerview: 9:52am On Jan 20, 2016
This Government should follow the law of the land. Nigeria is the way it is because we make laws but don't want to follow them. Painful as it may be, IT IS IN THE LAW of the land just as it is in other countries.

https://www.cibcfcib.com/fcib/pdf/retail/bel-retail.pdf

http://www.citibank.com.sg/global_docs/pdf/banking_fees.pdf

https://www.commbank.com.au/personal/apply-online/download-printed-forms/CAR0252_ADB1782FeesCharges.pdf
Re: N50 Stamp Duty Imposed On Bank Customers By FG by tiptopy03(m): 9:55am On Jan 20, 2016
morkaz:
This is ridiculous. This can make banking not attractive especially to traders who makes daily deposits. cry cry angry
yea someone like me, that most of my customers pay to my account. From my hard earned 100 naira gain and government now wants to be having 50naira from it. Are they the one that financed my business? after been jobless for 3years, now the reward I want to get from government is to be robbed. God will Punish those behind this policy.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by tefund(m): 10:00am On Jan 20, 2016
BuddhaPalm:


If you know what taxes are in the US & UK them, cold go catch you.

You fit earn £10m them go get mind collect HALF!
but the money is well spent over there but here is being looted

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by ferhyntorlah(f): 10:03am On Jan 20, 2016
[size=20pt]THIS IS ABSOLUTE RUBBISH! TOTAL RUBBISH![/size]

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by guysis(m): 10:07am On Jan 20, 2016
PMB!!! which way? This administration has not failed to amaze me infact The overall cluelessness is stunning!
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Dee60: 10:08am On Jan 20, 2016
OUTRAGEOUS.

NIGERIA WANTS TO RUN A DANGEROUS ONE-SIDED SOCIALIST AGENDA WHERE YOU PREACH AUSTERITY TO THE MASSES WHEREAS THE RULERS CONTINUE THEIR SPENDING SPREE.

THIS IS ANOTHER DIMENSION TO CLUELESSNESS. WHEN THEY OUGHT TO LOWER TAXES, CUT THE INCIDENCE OF DOUBLE TAXATION ETC, THEY WANT TO NOW DO THE OPPOSITE.

CBN HAS JUST SCRAPPED COT BUT HAS IMMEDIATELY INTRODUCED SOMETHING WORSE!

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by iheneme(m): 10:10am On Jan 20, 2016
Nigerians should not just protest online, because if don't physically show our strong resentment of this unpopular policy the government will not take us seriously. What I actually advocate is PEACEFUL PROTEST. #IfYouCantGiveMeYour5kLeaveMy50Naira.

1 Like

Re: N50 Stamp Duty Imposed On Bank Customers By FG by GoddonBishop: 10:14am On Jan 20, 2016
Taxing deposit on own account...
What do Economists call that again
Income tax? No. Deposit tax I guess.
Well since oil don cast na taxing things now oh.
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Favolly(f): 10:23am On Jan 20, 2016
This doesn't make any sense cry

Bank customers already pay ATM withdrawal charges, VAT on cash transfers, et al.

Now we're supposed to pay tax everytime we do a transaction on OUR bank accounts??

At least they should have made the charge monthly. 50 naira per transaction is outrageous! Unless this is a short-term plan...

As usual, our legislators will keep mute when we need them the most
Re: N50 Stamp Duty Imposed On Bank Customers By FG by Skybee1(m): 10:27am On Jan 20, 2016
FreeGlobe:

what about cocoa in South West? Must it be oil? If buhari cannot cope, he should divide the country peacefully
kpam,gud point

1 Like

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