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World Famous Olumo Rock
After Renovation
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STAMP DUTY |
This is administered by the State Internal Revenue Service(IRS), for documents where individual and enterprises are involved, while the Federal Inland Revenue Service (FIRS) collects from Limited Liability Companies.
IRS is to ensure that all properties in Ogun State are registered in the State. This involves the presentation of Land documents, Bond, Premium, Wills and other Legal documents for Assessment, payment of the assessment amount and Stamping of documents.
Payment of Stamp Duty allows the person whose name is on the document to have legal right on such document.
The current guidelines for Stamp Duty is found in the Joint Tax Board Communique issued at the end of the 100th Joint Tax Board meeting held between May 7th and May 9th, 2002
DETERMINATION
The stamp duty charge is determined based on the following:
Wether for an individual or consent(i.e. Governors consent)
Type of consent(Assignment, Sublease and Mortgage)
Type of instrument (eg. Affidavit - Affirmation, Statutory declaration, Land Agreement,
etc.) to be stamped.
However, any assessment which involves the sale of property is assessed for Capital Gains Tax and Stamp Duty charges. Stamp Duty is payable by new owner of the property while Capital Gains Tax is payable on the profit made on disposal by the seller.
To begin filing of documents details for assessment, click on
Start Now
to do so.
We will collect the details and may serve you with an online assessed value depending on the type of Stamp Duty charge (Advalorem or fixed rate). If the value of a document has not been determined, the tax payer will wait for a value to be placed on the document before an assessed amount can be generated for him/her.
For more information on presentation
of Land documents, Bonds, Premium, Will and other Legal documents for Assessment
click
more-->
NOTE: all documents are subject to verification
before stamping by IRS.
Happy filing. |
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