Audit observed that the statutory 1% Stamp Duties totalling N5,476,448.42 which ought to have been deducted from 27 different contracts awarded by the Council between April, 2017 and March, 2018 at a total contract sum of N547,644,842.10 were not deducted and remitted to the relevant tax authority.
The Registrar is required to recover the sum of N5,476,448.42 from the contractors concerned and remit to the Federal Inland Revenue Service, forwarding evidence of remittance to the Public Accounts Committees of the National Assembly for verification. Otherwise, sanction stated in FR 3112 should apply.
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