Stamp Duties – NBC Institute

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

Question

Stamp duties are duties basically on instruments (defined to include written document). Stamp duties are governed by Stamp Duties Act Cap. S8 LFN 2004 (as amended), which provides for the levying of duties on certain matters specified in the Act, effective April 1, 1993.

a. Explain THREE instruments exempted from stamp duties. (3 Marks)
b. Describe when electronic documents are considered received in Nigeria. (3 Marks)
c. Discuss duty on contracts. (3 Marks)
d. Explain the electronic money transfer levy. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contracts, Electronic Documents, Exemptions, Money Transfer Levy, Stamp Duties
Level: Level 2

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

Question

Which of the following is NOT an instrument being assessed by fixed duties?
A. Payment receipts
B. Cheque leaves
C. Guarantor forms
D. Proxy forms
E. Bills of exchange

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fixed Duties, Instruments, Nigerian Tax System, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: NOV 2020

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

Question

i. Discuss briefly the administration of Stamp Duties in Nigeria. (5 Marks)
ii. List and explain any FIVE instruments that are chargeable to Stamp Duties. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Chargeable Instruments, Stamp Duties, Tax Administration
Level: Level 2

Topic: Stamp Duties
Series: NOV 2016

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

Question

Which of the following is NOT a function of a Commissioner of Stamp Duties?
A. He is the administrative head of the department
B. He has the duties of assessing documents on appropriate duties and imposing penalties where applicable
C. Adjudication
D. Stamping or embossments
E. He varies the stamp duties rate from time to time to reflect realities

Answer

Find Related Questions by Tags, levels, etc.

Tags: Adjudication, Administration, Commissioner, Duties, Penalties, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: MAY 2021

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

Question

With respect to the Stamp Duties Act Cap S8 LFN 2004, briefly explain the following:
i. Adjudication (3 Marks)
ii. Benefits of adjudication (4 Marks)
iii. Fixed duties (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Stamp Duties, Tax Adjudication, Tax Administration
Level: Level 2

Series: MAY 2018

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contracts, Electronic Documents, Exemptions, Money Transfer Levy, Stamp Duties
Level: Level 2

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

Question

Which of the following is NOT an instrument being assessed by fixed duties?
A. Payment receipts
B. Cheque leaves
C. Guarantor forms
D. Proxy forms
E. Bills of exchange

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fixed Duties, Instruments, Nigerian Tax System, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: NOV 2020

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

Question

i. Discuss briefly the administration of Stamp Duties in Nigeria. (5 Marks)
ii. List and explain any FIVE instruments that are chargeable to Stamp Duties. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Chargeable Instruments, Stamp Duties, Tax Administration
Level: Level 2

Topic: Stamp Duties
Series: NOV 2016

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Adjudication, Administration, Commissioner, Duties, Penalties, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: MAY 2021

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

Question

With respect to the Stamp Duties Act Cap S8 LFN 2004, briefly explain the following:
i. Adjudication (3 Marks)
ii. Benefits of adjudication (4 Marks)
iii. Fixed duties (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Stamp Duties, Tax Adjudication, Tax Administration
Level: Level 2

Series: MAY 2018

Question Tag: Stamp Duties

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Stamp Duties

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

You're reporting an error for "TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement"

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties"

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

You're reporting an error for "TAX – Nov 2016 – L2 – Q5a – Stamp Duties"

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q13 – Stamp Duties"

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

You're reporting an error for "TAX – May 2018 – L2 – Q1b – Stamp Duties"

TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement

Explain stamp duty exemptions, electronic document receipt, duties on contracts, and electronic money transfer levies.

You're reporting an error for "TAX – Nov 2023 – L2 – Q5 – Tax Administration and Enforcement"

TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties

Identify which instrument is not assessed by fixed duties under the Stamp Duties Act.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q14 – Stamp Duties"

TAX – Nov 2016 – L2 – Q5a – Stamp Duties

Discuss the administration of Stamp Duties in Nigeria and explain five chargeable instruments.

You're reporting an error for "TAX – Nov 2016 – L2 – Q5a – Stamp Duties"

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q13 – Stamp Duties"

TAX – May 2018 – L2 – Q1b – Stamp Duties

Explain Stamp Duties Act concepts of adjudication, benefits of adjudication, and fixed duties.

You're reporting an error for "TAX – May 2018 – L2 – Q1b – Stamp Duties"

Our offerings

Contact Info

Customer

Get In Touch

admin