Sai Baba!
Buhari is working!
Nigeria will get better!
wailers wail tire

EgunMogaji:


Thank you Sir.

This will also slow down excess spending by certain idiots of the society. When you're going to build/buy a mansion of N100,000,000 and you know there is a tax of N10,000,000 due then they'll know what's up. The local government that gets N10,000,000 better provide good roads for that area

so by your logic it will be diificult for a poor man to build a house?

While we all understand what VAT is meant to achieve just like Subsidy removal.
It is highly irresponsible and wicked to the masses whom is already embittered with his 18,500 Naira minimum wage.
For thosees who will come here to tell us how much VAT is obtainable in other parts of the world, they should also give us a breakdown of the cost of goverance around the world, the minimum wage, and readily available social amentities while at it.
The Proposal should go thus:
VAT increment to 10%
Minimum wage incrcement by 100%
Federal and State legislative Arm 70% salary and allowance reduction.( we might as well dissolve the federal legislative upper arm)
Merging of duplicate federal parastatals e.g EFCC/ICPC
FRSC/VIO. Just then we shall has a conversation.

EgunMogaji:


Thank you Sir.

This will also slow down excess spending by certain idiots of the society. When you're going to build/buy a mansion of N100,000,000 and you know there is a tax of N10,000,000 due then they'll know what's up. The local government that gets N10,000,000 better provide good roads for that area

Increasing VAT to 10% vs 5% as you stated would change nothing. Using your analogy only shows how naive you are. If a LGA could do nothing with N5m, what gives you the impression that increasing it would make him efficient? Our governors are lazy and thieves. After this increase, Nigerians should brace up for more.

Xetima:

Increasing VAT to 10% vs 5% as you stated would change nothing. Using your analogy only shows how naive you are. If a LGA could do nothing with N5m, what gives you the impression that increasing it would make him efficient? Our governors are lazy and thieves. After this increase, Nigerians should brace up for more.

You've exposed your lackluster grasp of the real world. Congrats.

Tax or tithe

kodded:
so by your logic it will be diificult for a poor man to build a house?

Sorry but I haven't read Nigeria's constitution in a while, they must have added an amendment that stipulated that every Nigerian has to build house or that it's the governments job to make sure they build a N100,000,000 one.

The governments job is to foster an economic environment that offers every body a playing field and they do that by collating the right amount of tax.

We want to eat what we didn't plant and nurture.

"Won fe ba efon labata ki won yo obe ti".

Nigerians pay the LOWEST VAT in the whole world! Go and investigate. It should go up

Young4jose:
. Mi na big Fool I swear........!

u mama na sick prostitutional illitrate

Why Buhari no tell us this during his campaign?

So, this is his economic reform strategy?

Any hardship created for Nigerians in this administration will be remenbered well in the next election.

Thank you. We talk so much about change but Nigerians are not ready to pay the twice or change.

We would rather spend money on generators than pay more tax to everyone to have better electricity.

We would rather spend money on foreign universities and visas than pay a bit more tax to improve our universities.

SenseiX:
In this era of low oil prices, it's the wisest decision to shore up our depleted profile, Nigeria is prolly the most undertaxed nation on earth, we restrict our revenue sources to oil neglecting the potential to gain even more from VAT, Most Africa countries have VAT>10% so it's not a big deal

Yes this is change. There is no change without pain but Nigerians seem to want change to become world class with no sacrifice or pain.

Please research the history of Singapore and China and see the sacrifices made to before where they are today. It is the painful truth that the government needs more revenue and cannot continue to depend on oil.

I agree with you though that the tax raised must b don't judiciously to justify the higher rate so the ordinary man can feel the impact rather than it being stolen.

ikkkkk:
Is this the Change clamored for by APC and Tinubu? Very disappointing.
I hope we don't cry too much because we brought this upon our self.

The Daura dullardd has increased tax to use in the payment of his Boko haram boys.

Very regressive and horrible way of taxation for this country where there is a huge gap between the rich and the poor

.....a more progressive way would be to tax luxury goods
Private, holy jets
Unholier ones...frankly evil ones too
Luxury goods....in all forms
The rich have a higher probability of using these items...taxing them will not impoverish them. VATS however....leaves the poor even more worse off

This is simple economics
I am WAILING oooo

dorothy111:


During Obasanjo regime, he increased VAT I think to 7%, immediately call rate doubled, every little thing doubled. It was a nightmare. 10% VAT for 18500 minimum wage is a crime.
10% on VAT
10% on Tithe
Plus the real tax.

We have to be realistic, it's evil! Besides, I don't trust all these politicians, OBJ, GEJ and PMB are all the same.

these politicians don't know anything, what their advisers or ministers tell them is what They will do.

when VAT is increased, the businessmen calculate the VAT and add it to the cost of production hence increase the selling price to cover the cost. The masses are the ones to bear the effect, already the depreciation of naira is rising the prices of naira gradually increasing VAT is doom, the timing of wrong. many companies will close down or move to nearby countries

pro APC will not see the truth as long as its their party that is incharge, but they will suffer it as well.

it's just like removing subsidy when you don't have the facilities to cushion the effect

mfm04622:
Nigerians pay the LOWEST VAT in the whole world! Go and investigate. It should go up

Give us a breakdown of the
1. cost of governance around the world,
2. the minimum wage,
3. is their currency 245 -$1
4. Do they have a national assembly consuming 25% of budget
5. do you have the same social amenities


in Nigeria the revenues are used to pay allowances of political office holders, when governors collect their share, how many of the governors invest or have increased their IGR in the last 8years.

stop comparing Nigeria with other countries, the realities are not the same

ollyruffy:
Why Buhari no tell us this during his campaign?

So, this is his economic reform strategy?

Any hardship created for Nigerians in this administration will be remenbered well in the next election.

if you think you will vote out APC you are joking, 2015 elections was programmed, don't think your vote was responsible. APC will do what they know how to do best and retain power.

Nigeria has not reach a stage where votes counts. if you say that again TINUBU will laugh at you.

otunsman:
When Vat increases,other commodities in the market,like pepper,tomatoes, gala,beans,rice,etc will follow suits.It is only the ordinary Nigerians that will bear the brunt.politicians don't spend their salaries on commodities.From housing,to cars,medicals,wardrobes and food allawee are free.so they are never affected.

Food stuffs are non VATable.

ttmacoy:

Thank you. We talk so much about change but Nigerians are not ready to pay the twice or change.

We would rather spend money on generators than pay more tax to everyone to have better electricity.

We would rather spend money on foreign universities and visas than pay a bit more tax to improve our universities.

hahaha see your life, Nigeria is not productive, don't be deceived our revenues are used to pay allowances to political office holders, the governors steal the allocations, how many governors have increased their IGR in the last 8years??

increasing vat will not translate to any meaningful development, politicians will take their share use the remaining to pay salaries, some can't even pay salaries after removing their share every month.


stop defending blindly, government should diversify the economy and raise their revenue, tax luxury items, reinvest the revenue and build a social amenities.

how many states are paying18000 minimum wage, go and do your survey.
what kind of life will the masses live with 18000, by the time prices of goods increase by 15-35%, coupled with unemployment and depreciating value of naira.

Happiness87:
hahaha see your life, Nigeria is not productive, don't be deceived our revenues are used to pay allowances to political office holders, the governors steal the allocations, how many governors have increased their IGR in the last 8years??

increasing vat will not translate to any meaningful development, politicians will take their share use the remaining to pay salaries, some can't even pay salaries after removing their share every month.


stop defending blindly, government should diversify the economy and raise their revenue, tax luxury items, reinvest the revenue and build a social amenities.

how many states are pay 18000 minimum wage, go and do your survey.
what kind of life will the masses live with 18000, by the time prices of goods increase by 15-35%, coupled with unemployment and depreciating value of naira.

You are totally right!

JustKeen:

This is a knee-jerk policy IMO.

Low oil prices wouldn't have posed much challenges if the Nigerian Government at all levels isn't utterly profligate.

The country is riddled with numerous issues militating against industries and production, plus unemployment is on the high and you think its the right time to increase VAT.

Let PMB patch up the numerous holes from which the national treasury trickles away for starters, not VAT Increment

Even if the govt cuts all loopholes, our revenue base would still be grossly inadequate for a nation of 170 million people, Nigeria has an annual federal budget of $30billion. That's less than that of Angola($45Billion). Nigeria is the most undertaxed nation on earth, you can't run a welfare state for 179 million people on a $30 billion dollar budget, a third of which is consumed on fuel subsidy and the rest on recurrent expenditure.

Vivly:

Food stuffs are non VATable.

who told you, hehehe, VAT means consumption tax, meaning for every item you consume you pay tax.

lets assume there is no VAT on food items, when VAT increases, fuel prices increase, companies add that to their cost of production and increase the selling price of the items they produce.

eg i produce fertilizers, vat have been increased, the cost of every raw material I use to produce fertilizer will increase coupled with fuel price increase, all I will do to remain in business will be to increase the prices of the fertilizer, if a farmer now buys fertilizers and other farm inputs at higher prices what will happen to the prices of the food items he produces when the items get to market, coupled with his cost of preserving the items and transportation to market.

hahaha prices of food stuffs will increase by 15-35% Mark my words, or companies will close down and relocate to nearby countries.

Companies don't necessarily need to relocate; rather they cost of living will increase, for the average Nigerian. That said, the VAT increase makes sense, but senseless compared to amenities on ground....
you can talk of an increase, when 99% of homes can boast of 20-23hrs power supply, constant running water, lesser potholes on our roads, adequate security, accessible jobs and lesser corrupt public office holders.

Without the above mentioned facts, it's like robbing Peter to pay Paul!

Happiness87:

who told you, hehehe, VAT means consumption tax, meaning for every item you consume you pay tax.

lets assume there is no VAT on food items, when VAT increases, fuel prices increase, companies add that to their cost of production and increase the selling price of the items they produce.

eg i produce fertilizers, vat have been increased, the cost of every raw material I use to produce fertilizer will increase coupled with fuel price increase, all I will do to remain in business will be to increase the prices of the fertilizer, if a farmer now buys fertilizers and other farm inputs at higher prices what will happen to the prices of the food items he produces when the items get to market, coupled with his cost of preserving the items and transportation to market.

hahaha prices of food stuffs will increase by 15-35% Mark my words, or companies will close down and relocate to nearby countries.

Agricultural equipments and chemicals and Fertilizers are exempted from VAT.
like I said, food stuffs are therefore exempted. Pity the common man.

EgunMogaji:


Sorry but I haven't read Nigeria's constitution in a while, they must have added an amendment that stipulated that every Nigerian has to build house or that it's the governments job to make sure they build a N100,000,000 one.

The governments job is to foster an economic environment that offers every body a playing field and they do that by collating the right amount of tax.

We want to eat what we didn't plant and nurture.

"Won fe ba efon labata ki won yo obe ti".

Is it buhari that knows how to effectively utilize increased taxes to stimulate greater national productivity.?
omode ni e.

dorothy111:

I don't have any love for GEJ, but we need to focus on who got the job now. Whatever GEJ did, either good or bad it doesn't matter. PMB told is he can fix it, so we put him in charge. He can resign if the workload is much.

Selfish leaders! I must rule, I must rule! Now you're ruling

I grab... I also don't have any love for preferential politics that's why I asked

This is one very common sensible movement. Government needs money to finance antI corruption crusade and expel bokoharam from our soil.

Vivly:

Agricultural equipments and chemicals and Fertilizers are exempted from VAT.
like I said, food stuffs are therefore exempted. Pity the common man.

yea, pity the common man, when fuel prices increase you will know that every other thing will increase

To date yes most revenue has been stolen or wasted, but with financial discipline and reduction in corruption which I hope Buhari brings extra revenue can then be properly spent for infrastructure.

How will the government raise revenue please tell me?
The government should not be in business but rather be focused on providing an enabling environment for for business to thrive and empty people. The government should makes its revenue from taxes as a result of the successful businesses and people using the infrastructure provide rather than the government depending on oil or other business for revenue.

I agree that prices will rise which I why I say for real change there will be pain. There I no way about it, but the important thing is with that pain and sacrifice must b the fact that the revenue raised us used properly. Raising taxes only to squandered means our sacrifice is wasted and we are in a worse position.

As I said please autobiography of the former prime minister of Singapore from Third world to First to understand the sacrifices required to take a country like Nigeria from all the issues we face to a world class developed nation.

Either we bite the bullet and make the sacrifices and with good management emerged stronger or we keep taking baby steps and remain where we are.

Same with China research on the steps taken to reinvigorate their economy over the past 30 years. It was painful at first.

Happiness87:
hahaha see your life, Nigeria is not productive, don't be deceived our revenues are used to pay allowances to political office holders, the governors steal the allocations, how many governors have increased their IGR in the last 8years??

increasing vat will not translate to any meaningful development, politicians will take their share use the remaining to pay salaries, some can't even pay salaries after removing their share every month.


stop defending blindly, government should diversify the economy and raise their revenue, tax luxury items, reinvest the revenue and build a social amenities.

how many states are paying18000 minimum wage, go and do your survey.
what kind of life will the masses live with 18000, by the time prices of goods increase by 15-35%, coupled with unemployment and depreciating value of naira.

mfm04622:
Nigerians pay the LOWEST VAT in the whole world! Go and investigate. It should go up

I am sure you don't understand the meaning of this. 50 naira gala will turn 100 naira. 11k/sec call rate will turn 22k/sec. Cement price will double, everything will double. What for? To pay salaries, and so that our legislatives will have enough to loot.

Our leaders are liars, they are not serious. They don't want to help us. They are evil. JeZzzzzz!

NIGERIANS DON'T LEARN

Vivly:

Food stuffs are non VATable.

You know how nigerian traders take advantage of little situation. like when workers salaries are increase they also increase price of their commodities.