Remittances received in Nigeria through the formal channels are tax exempt, for example when non-resident Nigerians transfer foreign currency (forex) into their forex domiciliary accounts with Nigerian banks. The bill is aimed at modifying certain ambiguities in the act and legalising all collections through commercial banks from January 2017. This culminated in various lawsuits1 involving NIPOST, on the responsible agency to collect stamp duties, its applicability and relevant exemptions/limitations. With immediate effect, all DMBs and other financial institutions shall commence the charging of N50 per eligible transaction in accordance with the provisions of the Stamp Duties Act … Bill, 2019 into law to become the Finance Act, 2020. Download article as PDF. These policy and regulatory developments along with … However, the promulgation of the Act known as NSCDC Act No. operations or business activities of NIPOST Stamping Protocol means the entire process of implementing and enforcing denotation of documents, instruments, forms, deeds, agreement, and relevant written documents with an adhesive or postage stamp or electronic or internet generated stamps as well as the act of cancelling out such stamps by signing across. In 1987, Nipost was charged with providing postal order services within Nigeria under Act No. Answer: An initial tax-free period of 5 years renewable for an additional 3 years. Don’t Pay anyone cash or otherwise for Nigerian Postal Service jobs in Nigeria. You can get this done yourself by the listed steps. 41 of 1992 established the Nigeria Postal Service (NIPOST) to provide postal services in Nigeria. 1.0 The Nigerian Postal Service (NIPOST), Garki II, Abuja wishes to undertake the Procurement of Works, Goods and Services in the implementation of its year 2020 … Moreover, not only is NIPOST engaged in commercial activities, it is also a dominant player (within the meaning of Section 70 of the Act) 5 in the courier services market. • The Bill contains a total of 23 amendments to the existing provisions of the Stamp … However, it is worth noting that the Nigerian Postal Service (NIPOST), in a recent Public Notice stated that the rights to print, mint, produce, retail and provide postage adhesive stamp resides with the NIPOST. • The Act provides a list of documents in its Schedule and the duty payable on each of them. Wider base for taxing non-resident companies (NRCs) The Bill introduces provisions that create a taxable presence for NRCs carrying on digital activities, consultancy, technical, management or professional services in Nigeria, provided that they have "significant economic presence" (SEP) in Nigeria; and profit can be attributable to such activity. Federal Government of Nigeria Financial Regulations 2009, and the Agency . The postal code system developed by NIPOST in 2000, and an efficient addressing framework are key tools required for the repositioning of NIPOST. the Finance Act, 2019, as the only competent authority with powers to impose, charge and collect stamp duties on all dutiable transactions under the SDA. An Act to enable effect to be given to the Revised Edition of the Laws of the Federation of Nigeria. “The Finance Act 2019 did not delete nor repeal neither did it amend Section 5(d) nor Section 34(1) and (2) of the NIPOST Act 2004. 18 of 1989” were to … DESTINATION: 0.5kg: 1.0kg: 1.5kg: 2.0kg: 2.5kg: 3.0kg: 3.5kg: 4.0kg: 4.5kg: 5.0kg: ADD 1/2kg(N) NATIONAL - WIDE INTER-REGION 2640 2880 (h)Monitor, investigate, and take every necessary step to forestall any planned Act of terrorism particularly. ACCESS THE LATEST CONTRACTS AND TENDERS INFORMATION FROM GOVERNMENT, NGO'S AND PRIVATE … Answer: Electronic mail. “We are also asking the court to determine if FIRS is not violating the intellectual property right given to NIPOST by the inventor of the Stamping Protocols Business Model, a business model which NIPOST in partnership with one of its business partners developed and was using to implement the Provisions in Section 11- 1, 2 and 3 and Section 89 – 1 of Stamp Duty Act, which is where Stampings … (vi)Power transmission lines, oil pipelines, NIPOST cables, equipment, water boad pipes or equipment vandalisation (g)Monitor the activities of religious bodies and trade associations. FEDERAL REPUBLIC OF NIGERIA FEDERAL MINISTRY OF COMMUNICATIONS AND DIGITAL ECONOMY NIGERIAN POSTAL SERVICE (NIPOST) GARKI II, ABUJA PREQUALIFICATION AND EXPRESSION OF INTEREST. 41 of 1992 established the Nigeria Postal Service (NIPOST) to provide postal services in Nigeria. INTRODUCTION The Federal Government of Nigeria has provided funds in the 2020 Appropriation Act to the Federal Ministry of Transportation for the … 18 of that year. (vi) power transmission lines, or oil pipelines, NIPOST cables, equipment, Water Board pipes or equipment vandalisation; (g) monitor the activities of religious bodies and trade associations; (h) monitor, investigate and take every necessary step to forestall any planned act of terrorism particularly-(i) cult and ethnic militia activities, (ii) criminal activities aimed at depriving citizens of their properties or lives, or (iii) … 10. NIPOST Requirements. This is a recruitment guide on NIPOST. N102LFN2012(Repeal and Re-enactment) Bill 2013(SB.371)-First Reading Sen.BasseyE.Otu (Cross River South) 2. and hereby inform the Public that the Nigerian Postal Service has observed several legal contradictions contained in the … Corporate Headquarters, Muhammadu Buhari Way, Garki II, Area 11, Abuja. In effect, the NIPOST postage stamps currently used by taxpayers on receipts is not a substitute for the FIRS’ adhesive stamp. In this regard, the CBN pursuant to the provisions of its enabling laws, hereby issues this circular to all DMBs and other financial institutions. THE FEDERAL REPUBLIC OF NIGERIA FEDERAL MINISTRY OF TRANSPORTATION INVITATION FOR TENDERS AND EXPRESSION OF INTEREST (EOI) TENDER PACKAGE NO – FMOT/PROC/2020/001. 19 PRIMARY RESPONSIBILITY OF NIPOST “The primary responsibility of Nipost is established by the decree No. Its current operations are hampered by the fact that most of the country does not have well- organized street naming and house numbering address systems by Local Government Authorities. The new Act includes a provision that grants to all companies “engaged in agricultural production” in Nigeria. 1. Information Technology Development Agency Act 2007 which became the legal platform for the creation of the National Information Technology Development Agency NITDA. It is noteworthy that there has never been a national Postal policy; however, Decree No. The Laws of the Federation of Nigeria compiled and published in 2004 under the authority of the Attorney-General of the Federation and … 11. RESIDES WITH NIPOST (A Response to FIRS’ Circular “Clarifications on the Provisions of the Stamp Duties Act) The Nigerian Postal Service (NIPOST) wishes to draw the attention of the General Public to the aforementioned circular issued by the Federal Inland Revenue Service (F.I.R.S.) 1. Act 2019 including the extension of Stamp Duty to electronic documents, receipts, bank deposits or transfers. The Federal Inland Revenue Service is expected to issue a clarifying circular in due course. The acceptable form of correspondence for persons disputing assessments by Tax Authorities in the New Act now includes. Motor Vehicles for the Intra-Territorial Mail Distribution in Lagos. Beyond transport … a.Cult and Ethnic militia activities ; b.Criminal activities aimed at depriving citizens of their properties or lives; Or. ENACTED by the National Assembly of the Federal Republic of Nigeria. He reinstated that NIPOST Act 2004 provides and vest solely in NIPOST the power to print adhesive postage stamps, which is the instrument for denoting documents and other transaction instruments in compliance with the provisions of the Stamp Duties Act. This development was eshunicated by decree No. In late 2018, Nipost replaced the disused postal order service with a domestic electronic Money Order whose commission is less than the postal orders and can be obtained at any post office or sub-post office enabling rural and urban communities to transfer money easily. Approval of the Revised Edition of the L.F.N. The a acronyms “Nipost” now means “Nigerian Postal service” as against “Nigerian Postal Service Department” that it was before the autonomous status. The social service implication of the organization to barely m5%. It is noteworthy that there has never been a national postal policy, however, Decree No. • A new bill, Stamp Duties (Amendment) Bill 2018, seeking to holistically amend the Stamp Duties Act LFN 2004, which has become obsolete in the face of current realities, was passed into law by the National Assembly in May 2018 . Service (NIPOST) sought to obtain stamp duties on receipts from banks, resulting in Central Bank of Nigeria’s intervention. 65] Commencement: 25th May, 2007. 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