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DAILY BUSINESS NEWS BRIEF – Reps approve stamp duty collection on electronic transfers



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Reps approve stamp duty collection on electronic transfers
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 raised the bar for the collection of stamp duty on bank deposits from N1,000 to N3,000.Read More…]


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