– Electronic Stamp Duty Payment System –
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ABSTRACT
The purpose of this research was to develop a computerized process of applying for and paying for stamp duty. This is simply a change in the process of assessing, that is, knowing what you supposed to pay and for what instrument and actually paying for stamp duty.
The study critically analyses the manual method of collecting stamp duty in Nigeria and uses ideas so gathered to design a new site (Electronic Stamp Duty Payment System) for use by the Tax Administrators in Federal Inland Revenue Services, Credit Officers in the bank, insurance companies, hire purchase companies, taxpayers/clients e.t.c. from anywhere across the country for payment of stamp duty.
The new site allows the Admin to login, create instrument type, verify declared instrument, authenticate a document, generate stamp certificate, view property status of instrument and generate account report.
Also, the new site allows the clients to login, create account, declare instrument, make payment, track instrument declaration status, view property status of instrument and apply for duplicate certificate.
The system was analyzed and designed using object oriented analysis and design methodology. It was implemented in java using eclipse development environment IDE. Other tools used for the application are unified modeling language tool (UML) for analysis and design, HTML, CSS and mySQL database management system for permanent storage of application data.
Innovations in the new system includes: online application for duplicate stamp certificates, certificate authentication facility on the FIRS web portal to allay fear of fake/counterfeit certificates and automatic generation of stamp certificate removing fatigue of physical embossment.
TABLE OF CONTENTS
Title page i
Certification page ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract vi
Table of contents vii
List of figures ix
List of tables x
Chapter 1: Introduction
1.0 Introduction 1
1.1 Statement of problem 2
1.2 Objectives of the study 3
1.3 Significance of the study 3
Chapter 2: Literature Review
2.0 Introduction 4
2.1 Theoretical Background 4
2.2 Review of Related Literature 6
2.2.1 An Overview of stamp duty 6
2.2.2 History of stamp duty 7
2.2.3 Stamp duty advantages 9
2.2.4 Online stamp duty application system 10
2.2.5 Studies related to online stamp duty payment application system 13
2.2.5.1 E-ticketing 13
2.2.5.2 E-banking 14
Chapter 3: System Analysis and Design
3.0 Introduction 17
3.1 Description of the existing system 18
3.2 Analysis of the proposed system 19
3.2.1 Object-Oriented Analysis of the proposed system 20
3.3 Design of the proposed system 22
3.3.1 Object-Oriented Design of the proposed system 22
3.3.2 Class Diagram of the proposed system 22
3.3.3 Sequence Diagram of the proposed system 25
3.3.4 Database Design 28
3.3.5 System Architecture 30
3.3.6 Input Design 30
3.3.7 Output Design 34
3.3.8 Algorithm Design 35
Chapter 4: System Implementation
4.0 Introduction 38
4.1Choice of development Environment 38
4.2Implementation Architecture 40
4.3 System implementation 41
4.3.1 The main menu 41
4.3.2 The submenus 42
4.4 Software Testing 48
4.5 Documentation 48
4.4.1Users Manual 48
4.4.2 Source code listing (See Appendix A) 49
4.2.3 Sample output (See Appendix B) 49
Chapter 5: Summary and Conclusion
5.0 Summary of the achievements of the work 50
5.1 Conclusion 51
5.2 Recommendations 51
5.4 Suggested areas for further works 52
References 53
Appendices 56
INTRODUCTION
With the advent of digital technology, postal services all over the country seem to be fading fast into complete irrelevance. What should be done, from a marketing perspective, to stop the Nigerian postal service from going out of business?
To revamp this organization, efforts are to be made to revitalize stamping (N50- stamping) on receipts (in conformity with the Stamp Duty Act 2004, as amended in 2010).
This law states that receipts on transaction in Nigeria would not be authenticated without affixing postage stamps on them.
With this, legal documents (e.g. lease agreements, deposit agreements, staff employment contracts, staff promotion letters, purchase order agreement and any other agreement covered by law) would not be legal unless the duty stamp was affixed on them.
Stamp duty is a Non-Tax Revenue (NTR) that are imposed by specific Acts of parliament and administered by ministries and other government departments.
It is not a tax on transactions rather it is a tax on commercial and legal documents which record and give effects to certain transactions. Stamp duty in a simple term is a levy, charge or duty on a value documents to make them legitimate in the courts of law.
A value document is usually one that represents the interest of two or more parties. Stamp duty payable on specified instruments is either ad valorem (at a percentage rate) or fixed.
And where the transaction is orally effected or it arises solely from the conduct of the parties no duty will be due since no document will be available for stamping.
The Federal Government impose charge or collect duties upon instruments relating to matters between a company and an individual or groups whereas State Governments charge or collect duties of instruments executed between persons or individuals. Although, the rate of duties chargeable has to be agreed with the Federal Government.
REFERENCES
Uganda Revenue Authority, Taxation Handbook: A Guide to Taxation in Uganda, Kampala: Fountain Publishers, 2011, pp 111-115.
Smith R.S “Land Prices and Policy: A historical Review.” American Journal of Economics and Sociology, Vol. 36, no. 9, 1977, pp. 337-350.
Cheung M. “An Empirical Study of the Effect of Ad Valorem Stamp Duty on Residential Real Estate Prices In Hong Kong” B.Sc. thesis, University of Hong Kong, 2009, pp. 45.
Bah, R. “Property transfer Tax and Stamp Duty: International Studies Programme Paper no.7”, 2004, pp. 16.
Hui, E. C. M. et al “Land Value Capture Mechanisms in Hong Kong and Singapore: A Comparative Analysis”. Journal of Property Investment and Finance, vol.22, pp.76-100.
Noto N. A., The Effect of Property Tax Policies on Property Values and Rents, Cambridge: Mass Lincoln Publishers, 1981, pp. 98-100.
Kayaga, L. “Tax Policy Challenges Facing Developing Countries: A case study of Uganda” M.Sc. thesis, Queen’s University Kingston, Ontario, Canada, 2007, pp 10-12.
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