Stamp Duties Tax is backed by the Stamp Duties Act, Cap. 441 LFN, 1990. The tax provides for the levying of stamp duties on certain matters. The power to collect Stamp Duties by the State Tax Authority is enshrined in Section 4(2) where the State is given the power to collect the duties in respect of instruments executed between persons or individuals at such rates to be imposed or charged as may be agreed with the Federal Government.


3% discounted of the consideration in the Document i.e amount stated in the document


However, re-assessment may be done taking into consideration the current market value of the property. (make room for Best of Judgement BOJ)

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