Section 126 Nigeria Tax Act 2025

Section 126 of the Nigeria Tax Act 2025 is about Obligation to stamp. It provides as follows:

(1) Every instrument executed in Nigeria, chargeable with a duty as prescribed under Chapter Five of this Act, shall be stamped not later than 30 days after its execution by the person required to pay the appropriate duty.

(2) A person, being the transferee of interest in a real property, other than in a voluntary disposition during the lifetime of the transferor, or beneficiary of a service for which consideration was paid, or any other person taking the security in a transaction for which an instrument is executed, shall be responsible for paying the duty relating to the transaction.