FG targets N66.1 Billion from stamp duty

TVC E, BUSINESS - The Federal Government is targeting an additional N66.1 billion revenue this year from  stamp duty of N50 on bank customers for money received into their accounts. The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the government is exploring opportunities to shore up revenue shortfall to Federation Account. Under the non-oil revenue section, the 2016, 2017, 2018 Medium Term Expenditure Framework and Fiscal Strategy Paper was captured in the 2016 Budget. It also projects that the revenue would grow to N71.8 billion in 2017 and to N78.5billion in 2018. Emefiele said that the Federal Government was exploring opportunities in the banking sector as part of efforts to boost its revenue base through taxes and rates.  ...