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House of Representatives Archives - Page 138 of 145 - Parliament Reports

Special Report: Stamp Duty and its unending Controversies in Nigeria

      HISTORICAL BACKGROUND As far back as the early 1620s, the Netherlands introduced stamp duty in its search for more revenue to prosecute the war with Spain. Revenue collector, Johannes van den Brooks is, however, credited with the invention of Stamp duty as an instrument of revenue before it was adopted by the British in 1670. In Nigeria, it was introduced 1st of April 1939 as Ordinance 41 of 1939 (and subsequent amendments)...

$2.4bn Revenue Loss: Reps investigate illegal sale of 48m barrels of crude oil

Reps consider motion moved by Isiaka Ibrahim, sets up Ad-hoc Committee to investigate whistleblower`s allegations of the illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo within four weeks        The House of Representatives has resolved to probe the alleged loss of over $2.4 billion in revenue from illegal sales of 48 million barrels of crude oil exported in 2015...

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