Finance Act Amendment: 1% Stamp Duty on contracts illegal – Reps | Dailytrust

Finance Act Amendment: 1% Stamp Duty on contracts illegal – Reps

House of Representatives

The House of Representatives has described the 1% percent Stamp Duty being collected on contracts as illegal.

This was based on a report presented to the House by the Chairman, House Committee on Finance, Rep. James Faleke on Wednesday.

The report presented reads thus: “That the House do consider the report of the Committee on Finance on a Bill for an Act to Amend Selected Legislations (Finance); and for Related Matters (HB. 1139)”It was earlier laid on Tuesday, December 15th, 2020.

Presenting the report, Rep. Faleke stated that the 1% stamp duty being charged by government agencies on contracts was illegal and unlawful, and that the committee has communicated this to the relevant authorities.

The report was voted and adopted by the House.

Meanwhile, the House has resolved to investigate alleged marginalisation of some applicants in the recent recruitment by the Ministry of Interior.