{"id":20312,"date":"2018-01-02T13:11:56","date_gmt":"2018-01-02T12:11:56","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=20312"},"modified":"2018-01-02T13:11:56","modified_gmt":"2018-01-02T12:11:56","slug":"reps-approve-stamp-duty-collection-electronic-transfers","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/","title":{"rendered":"Reps Approve Stamp Duty Collection On Electronic Transfers"},"content":{"rendered":"

The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill, the lawmakers have endorsed the controversial deduction of N50 from deposits into accounts with Deposit Money Banks across the country using electronic platforms.<\/p>\n

The new bill also raised the bar for the collection of stamp duty on bank deposits from N1,000 to N3,000. Although the 2004 Stamp Duty Act approved the fixing of N50 stamp on documents witnessing transactions worth N1,000 and above, the law became controversial when banks were directed to deduct N50 on deposits in banks of N1,000 and above.<\/p>\n

On the strength of the 2004 Act and a circular issued by the Central Bank of Nigeria in January 2016, banks operating in the country have been deducting N50 from deposits in bank accounts across the country.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Photo Caption: Yakubu Dogara Speaker House of Rep<\/em><\/strong><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill, the lawmakers have endorsed the controversial deduction of N50 from deposits into accounts with Deposit Money Banks across the country using electronic platforms. The new bill also …<\/p>\n","protected":false},"author":6,"featured_media":20313,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3452],"coauthors":[2391],"class_list":["post-20312","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-stamp-duty"],"yoast_head":"\nReps Approve Stamp Duty Collection On Electronic Transfers - National Wire<\/title>\n<meta name=\"description\" content=\"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps Approve Stamp Duty Collection On Electronic Transfers - National Wire\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-02T12:11:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg\",\"width\":1000,\"height\":573,\"caption\":\"DOGARA SPEAKER OF HOUSE OF REP\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/\",\"name\":\"Reps Approve Stamp Duty Collection On Electronic Transfers - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#primaryimage\"},\"datePublished\":\"2018-01-02T12:11:56+00:00\",\"dateModified\":\"2018-01-02T12:11:56+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Reps Approve Stamp Duty Collection On Electronic Transfers\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Reps Approve Stamp Duty Collection On Electronic Transfers - National Wire","description":"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/","og_locale":"en_US","og_type":"article","og_title":"Reps Approve Stamp Duty Collection On Electronic Transfers - National Wire","og_description":"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill","og_url":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/","og_site_name":"National Wire","article_published_time":"2018-01-02T12:11:56+00:00","og_image":[{"width":1000,"height":573,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/01\/DOGARA-SPEAKER-OF-HOUSE-OF-REP.jpg","width":1000,"height":573,"caption":"DOGARA SPEAKER OF HOUSE OF REP"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/","name":"Reps Approve Stamp Duty Collection On Electronic Transfers - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#primaryimage"},"datePublished":"2018-01-02T12:11:56+00:00","dateModified":"2018-01-02T12:11:56+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"The House of Representatives has passed a new Stamp Duty Bill, which seeks to amend and repeal the 2004 Stamp Duty Act. With the passage of the bill","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/reps-approve-stamp-duty-collection-electronic-transfers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Reps Approve Stamp Duty Collection On Electronic Transfers"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/20312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=20312"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/20312\/revisions"}],"predecessor-version":[{"id":20314,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/20312\/revisions\/20314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/20313"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=20312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=20312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=20312"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=20312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}