From Paul Osuyi, Asaba
THE Nigeria Postal Service (NIPOST) has lamented the loss of federal revenue as a result of non-implementation of the relevant provisions of Stamp Duty Act on transactions across the country.
According to the act, every transaction is expected to attract N50.stamp duty on the receipt which is to make the transaction valid.
But the Area Manager of NIPOST, Delta Territory, Mr. Babatunde Ajayi, while decrying the non-adherence to the provisions of the act, stated that Nigeria was losing huge revenue that could sustain the nation’s annual budget.
Speaking in Asaba on the sidelines of this year’s World Post Day, Ajayi explained that stamp duty was one of the innovations of NIPOST aimed at generating funds for the Federal Government.
“And when you look at the entire budget of the Federal Government in a year, it is not up to what we lose as a result of non-enforcement of the law, that is to say that if that product is well marketed, it can fund the government for over a year.
“The government is only concerned about the financial institutions, not even the oil and gas, supermarkets etc, and when you gather all these, it will increase the revenue of government,” Ajayi said.
He noted that there were on-going reforms in the service to transform it into a total money making agency for the government like what obtains in countries like Italy and Japan.
Ajayi said NIPOST has come up with innovations to enhance e-commerce, adding that it has deepened the process with the introduction of post cash to favour rural populace.
“NIPOST has been handling that aspect since the past five to 10 years, and we have come up with post cash to favour rural areas and we have extended to parts of Africa to help the poor, and for goods to be carried physically on-line.
“Since the advent of the GSM in 1999, NIPOST has come up with new ideas, products that can serve the populace to reach the world post centre.
Source : SunOnline