By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Unbelievable: Tenants to Pay Six Per Cent Stamp Duty Charges
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Unbelievable: Tenants to Pay Six Per Cent Stamp Duty Charges

News

Unbelievable: Tenants to Pay Six Per Cent Stamp Duty Charges

Tare Magbei
Tare Magbei
Published: June 14, 2025
Last updated: June 14, 2025
3 Min Read
Share
Unbelievable: Tenants to Pay Six Per Cent Stamp Duty Charges | Daily Report Nigeria
SHARE

Landlords and property agents in Nigeria have been instructed by the Federal Inland Revenue Service (FIRS) to include six percent Stamp Duty charge on all tenancy and lease agreements.

The FIRS instructs landlords/ property agents to remit all such collections to the service to avoid running foul of the Stamp Duty Act.

NDDC probe: NASS to Decide Fate of Akpabio, Others Today

The directive was issued via a statement by the FIRS Director, Communications and Liaison, Department Abdullahi Ahmad, on Wednesday.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“Property-related transactions like tenancy or lease agreement fall under the Ad Valorem category of the stamp duty which attracts six per cent duty payable in percentage of the total value or sum of the tenancy or lease,” Ahmad explained in the statement.

According to Ahmad, the burden of payment of the six per cent “lies on the beneficiary of the tenancy or lease agreement, whom the Stamp Duty Act identified as the tenant or renter.”

He added that “the responsibility of collection and remittance fall on the landlord or agent in charge of the property for lease or rent. The party making the payment shall have the obligation to account for the applicable stamp duties.”

Some other Stamp Duty types and their rates according to the statement are; Appraisement or Valuation of Property – .5 per cent; Certificate of Occupancy and Partnership – N1,000 flat rate; Gift of Land – 1.5 per cent and Legal Mortgage – 0.375 per cent.

Others are Legal Mortgage (Upstamping) – 0.375 per cent; Deed of Conveyance or Transfer on Sale of Property – 1.5 per cent; Memorandum of Understanding (Related to Land, Sales, Joint Venture, Surrender, Subdivision Agreements – 1.5 per cent; Power of Attorney (Irrevocable/Land Related) – 1.5 per cent and Sales Agreement – 1.5 per cent.

Stamp Duties payment is enabled by the Stamp Duties Act (SDA) 1939, as amended by numerous Acts and various resolutions contained in the Laws of the Federation of Nigeria. The SDA also provides a list of documents in its schedule and the duty payable on each.

The Finance Act 2019 states that: “the Federal Inland Revenue Service shall be the only competent authority to impose, charge and collect duties upon instruments specified in the Schedule to this Act if such instrument relates to matters executed between a company and an individual, group or body of individuals.”

The total Stamp Duty collection for 2019 was N18 billion according to the FIRS

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:Nigerians
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Nigeria’s Abdul Jeleel Ajagun Joins Al Faisaly on Three-Year Deal
Nigeria’s Abdul Jeleel Ajagun Joins Al Faisaly on Three-Year Deal
Sports
sowore
2027: Sowore Slams Anti-Tinubu Coalition as ‘Destiny Rustlers’
Politics
BREAKING: Timileyin Ajayi Sentenced to Death for Killing NYSC Member | Daily Report Nigeria
BREAKING: Timileyin Ajayi Sentenced to Death for Killing NYSC Member
Metro
Just In: NDDC Post-Graduate Scholarships 2025/2026 Begins | Daily Report Nigeria
Just In: NDDC Post-Graduate Scholarships 2025/2026 Begins
News
Tinubu To Sign Four Tax Reform Bills Thursday | Daily Report Nigeria
Tinubu To Sign Four Tax Reform Bills Thursday
Business

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Why Chiwetalu Agu was Released by DSS – Mike Ozekhome
News

Why Chiwetalu Agu was Released by DSS – Mike Ozekhome

June 13, 2025
FG Renames National Theater In Lagos | Daily Report Nigeria
News

FG Renames National Theater In Lagos

June 13, 2025
AFCON 2023: All Eyes on Osimhen as Nigeria Takes on Equatorial Guinea
NewsSports

AFCON 2023: All Eyes on Osimhen as Nigeria Takes on Equatorial Guinea

June 13, 2025
Nigeria Loses N1.9tn to Crude Oil Theft in July | Daily Report Nigeria
News

Nigeria Loses N1.9tn to Crude Oil Theft in July

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?