These include SMS and messages on any electronic platform such as emails and WhatsApp messages.

This was contained in a circular, signed by Federal Inland Revenue Service (FIRS) Chairman, Muhammad Nami, published on the Services website.

The circular went further to state that all receipts, either printed or electronically generated, or any form of electronic acknowledgement of money transactions, will attract the stamp duty of N50.

The Service stressed that it is the only body authorised to collect stamp duties adding that the instruments subject to charge, as listed in the circular, include; fixed duty instruments such as Power of Attorney, Certificate of Attorney, Proxy forms, Appointment of receivers, Memorandum of Understanding, Joint Venture Agreements, Guarantors form, Ordinary agreements and Receipts.

He added that Ad-valorem instruments such as Tenancy or lease agreements, legal mortgage or debentures, Sales agreements and Deed of assignments are also included.

The circular noted that any electronic receipt for, or electronic transfer of, money deposited with any bank or with any banker in any type of account of an amount from N10,000 upwards shall attract a singular or one-off duty of the sum of N50.

Stamp duty upon receipt (written, printed or in electronic form) for transactions between corporate bodies or between a corporate body and an individual, group or body of individuals, which amounts to N10,000 and above, shall be denoted by payment of N50 per receipt to the service.

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