Tenants and Land owners to pay 6% stamp duty to the landlords/property agents!

The Federal Inland Revenue Service (FIRS) has made available detailed information to guide taxpayers and the general public on rates payable as stamp duty.

The disclosure was made in a public statement by the Director Communications and liaison Department of the FIRS, Abdullahi Ahmad, on Tuesday July 21, 2020.

The FIRS has directed all landlords and property agents to charge 6% stamp duty on all tenancy and lease agreements.

The landlords and property agents are to remit such collections to the FIRS so that they do not become guilty of non payment of stamp duty according to the stamp duty act.

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