FG, States Rake In N192bn From Electronic Money Transfer Levy In 12 Months

The controversial Stamp Duty now known as the Electronic Money Transfer Levy (EMTL) has generated the sum of N192.33bn for the three tiers of government from volumes of electronic transactions in a 12-month period.

The levy was introduced in the Finance Act 2020 which amended the Stamp Duty Act to tap into the growth of electronic funds transfer in the country.

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