Under sections 27(6) and 34(4) of
CAMA, two copies of the Memorandum and Articles of Association must be
presented to the Federal Commissioner of Stamp Duties for stamping. Also, two copies
of statement of authorised share capital (form CAC 2) and return of allotment
must also be presented for stamping.
Please note that, it is Two (2) copies of the Memorandum and
Articles of Association and Two (2) copies of
Form CAC 2 (Statement of Share Capital and Return of Allotment) that is
submitted for stamping.
For the Memorandum and
Articles of Association, stamping fee/duty is N500 naira for a copy
of the two documents.
For Form CAC 2 (Statement of Share Capital and Return of
Allotment), the stamp duty is
calculated at 0.75% of the total share capital. That is 1.50k for every N200 naira; on the share
capital and
N7500 naira for every
1 million in the share capital.
Mathematically,
calculation of stamp duty for Form CAC 2 (Statement
of Share Capital and Return of Allotment), can be represented
thus;
Calculation of Stamp
Duty: N7500 for every 1,000,000
= amount of
Authorized Share Capital x 7500
1,000,000 1
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