NPA SLAMS NEW STAMP DUTY ON TRUCKS.(PHOTO).

NPA slams new stamp duty on trucks

The Nigerian Ports Authority, through the Trucks Transit Parks, has introduced a mandatory N50.00 stamp duty payment on every N1,000 receipt issued to truck drivers.

This was contained in a notice sighted by the PUNCH on Tuesday.

In the notice dated August 14th the management of TTP said that with effect from September, the NPA has directed them to commence the implementation of the directive on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.

According to TTP, the directive is a policy of the Federal Ministry of Finance issued two years ago to all Heads of Ministries, Departments, and Agencies.

The notice read in part, “In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular dated April 19, 2021, directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service. Following engagements between the NPA and NIPOST on the implementation of the circular issued, the NPA has now directed our company, to commence the implementation of the circular on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.”

According to the notice, “The implication of NPA’s directive above for stakeholders in the port environment doing business with TTP is that, from the effective date stated below, all bookings on the eto platform shall now attract a mandatory additional charge of N50.00. In the light of the foregoing, all stakeholders are by this notice, informed that in compliance with the above-mentioned directive of the NPA, TTP would commence implementation of the said directive, from September 1, 2023,” the notice said.