Section 185 Nigeria Tax Act 2025

Section 185 of the Nigeria Tax Act 2025 is about Exemption from stamp duties. It provides as follows:

The following instruments shall be exempted from stamp duties under Chapter Eight of this Act –
(a) transfer of shares in Government or legislative stocks or funds of Nigeria;

(b) any instrument for sale, transfer or other disposition, either absolutely or by way of mortgage, or otherwise, of any ship or vessel or any part, interest, share or property of or in any ship or vessel;

(c) any instrument on which the duty would be payable by a Nigerian Government or any of its ministries, departments or agencies;

(d) any instrument in which the duty would be payable by any consular officer arising out of his official functions provided the foreign government he represents grants similar exemption to Nigerian consular officers;

(e) any instrument executed by or on behalf of a co-operative society registered under any Act or law;

(f) shares, stocks or securities transferred by a lender to its approved agent or a borrower in furtherance of a regulated securities lending transaction;

(g) shares, stocks or securities returned to a lender or its approved agent by a borrower in pursuant of a regulated securities lending
transaction; or

(h) all documents relating to the transfer of stocks and shares.

(i) electronic transfer or electronic receipts of money of a sum below 10,000 or its equivalent in other currencies, transfers for salary payment and intra-bank self- transfers.

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