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The Nigerian Ports Authority, NPA, and the Tucks Transit Parks, TTP, have introduced a mandatory N50.00 stamp duty payment on every N1,000 receipt issued to truck drivers.
The management of TTP stated in a notification to all stakeholders yesterday that the NPA has instructed TTP to start implementing the instruction on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.
According to TTP, the directive was a Federal Ministry of Finance regulation that was distributed to all heads of Ministries, Departments, and Agencies roughly two years ago.
Part of the notice reads: “ In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular (dated April 19, 2021) directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service (NIPOST).
“Following engagements between the Nigerian Ports Authority (NPA) and NIPOST on the implementation of the circular issued, the NPA has now directed our company, Trucks Transit Parks Limited [TTP], to commence the implementation of the circular on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.
“In furtherance to the provisions of the Finance Act, the Federal Ministry of Finance issued a circular (dated April 19, 2021) directing all heads of Ministries, Departments, and Agencies of Government to denote all issued receipts of N1,000.00 and above in value with N50.00 Stamp produced by the Nigerian Postal Service (NIPOST).
“Following engagements between the Nigerian Ports Authority (NPA) and NIPOST on the implementation of the circular issued, the NPA has now directed our company, Trucks Transit Parks Limited [TTP], to commence the implementation of the circular on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.
“The implication of NPA’s directive above for stakeholders in the port environment doing business with TTP is that, from the effective date stated below, all bookings on the eto platform shall now attract a mandatory additional charge of N50.00. In the light of the foregoing, all stakeholders are by this notice, informed that in compliance with the above-mentioned directive of the NPA, TTP would commence implementation of the said directive, from September 1, 2023 (“Effective Date
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