Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,540 members, 7,958,665 topics. Date: Wednesday, 25 September 2024 at 08:07 PM |
Nairaland Forum / Nairaland / General / Politics / RMAFC Wants VAT Increased To 7.5% (5841 Views)
Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC / RMAFC To Commence Disbursement Of 13% Derivation Fund To Lagos (Pic) / Buhari Appoints Elias Nwalem Mbam as RMAFC chairman (2) (3) (4)
RMAFC Wants VAT Increased To 7.5% by Islie: 8:02am On Jul 15, 2016 |
The Revenue Mobilisation, Allocation and Fiscal Commission called for an upward review of Value Added Tax from five per cent to about 7.5 per cent in order to improve the country’s revenue base. http://punchng.com/rmafc-wants-vat-increased-7-5-percent/ |
Re: RMAFC Wants VAT Increased To 7.5% by iamhorlufemi: 8:03am On Jul 15, 2016 |
no need. Simply create a system that ensures adequate collection of tax. you can even give tax returns/rewards to people who pay their tax. You can jail people who don't pay tax. 9 Likes 1 Share |
Re: RMAFC Wants VAT Increased To 7.5% by SamuelAnyawu(m): 8:09am On Jul 15, 2016 |
We should start by Jailing the Rich Tax evaders in Nigeria 1 Like |
Re: RMAFC Wants VAT Increased To 7.5% by IllegalMoney: 8:10am On Jul 15, 2016 |
[size=13pt] Increase VAT by 7.5%? Lord deliver us from Buharinomics thunder strike this APC and Buhari led government for wanting to add more suffering to the plight of Nigerians Buhari is an economic assassin Thunder fire APC zombies who will support this satanic decision of planning to Increase VAT by 7.5%, at this harsh economic period Nigerians are going through. In the coming days fuel price will be increased again, after deceiving us that subsidy has been removed.....CHANGE [/size] 39 Likes 4 Shares
|
Re: RMAFC Wants VAT Increased To 7.5% by Almajiri1: 8:12am On Jul 15, 2016 |
20% should be ideal so buhari would no longer have excuses to tender for not delivering on his promised Eldorado. 2 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by Almajiri1: 8:14am On Jul 15, 2016 |
IllegalMoney:Your body dey hot. Buhari will make Nigeria great again. 3 Likes 2 Shares |
Re: RMAFC Wants VAT Increased To 7.5% by omenka(m): 8:36am On Jul 15, 2016 |
I'd suggest palliatives be put in place to cushion the inevitable rise in prices of commodities should this policy see the light of day- the wallets of average Nigerians have been stretched to their elastic limits already. |
Re: RMAFC Wants VAT Increased To 7.5% by nnachukz(m): 8:42am On Jul 15, 2016 |
All that this government does is to impoverish the masses the more, look for every avenue to milk them dry in order for Buhari and Co to continue living in affluence while the masses keep dying one after another. Zombies won't see it even while dying economically and physically. Buhari once said "it is their hard luck if they can't access forex". The quote shows how heartless that man can be in his policy making. 21 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by ijustdey: 12:01pm On Jul 15, 2016 |
why do these people want to add up more suffering to the populace by increasing tax.... who beg them to suggest such, we need to alleviate the ones they are going through and not add more 3 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by idupaul: 12:21pm On Jul 15, 2016 |
Minimum wage and allowances have been reduced ,electricity tariff increased by 50 percent, fuel prices increased by 70 percent, exchange rate destroyed and now increment in VAT ..Mark my words Buhari will turn Nigeria into one of the poorest places on earth. .I pray to God to remove and correct this economic mistake of a man 10 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by ItsawrapOutfit: 12:41pm On Jul 15, 2016 |
This is nothing but wickednes. It is becoming obviously visible to the blind and audible to the deaf (hyperbole) that they just want to move the economy into unprecedented recession with this wrong timed policies. These guys should explore the possibility of expanding the tax base and not TAX RATE. More money to the looters to share, less return on investment (ROI) for investors leading to compelled retrenchment and increased in unemployment rate. Entrepreneurs are still wrestling with FX rate, you want to still increase VAT are. Like seriously, are you the messenger of the devil or IMF, who sent you? 8 Likes 1 Share |
Re: RMAFC Wants VAT Increased To 7.5% by veekid(m): 12:42pm On Jul 15, 2016 |
Pooo |
Re: RMAFC Wants VAT Increased To 7.5% by idupaul: 12:43pm On Jul 15, 2016 |
As usual they attempt to Justify their wickedness and thoughtlessness by comparing our VAT rates with that of other countries again without also informing us if South Africans use generator from morning till night to run business or if South Africans contribute money to fix pave their streets and provide thier own security, they also failed to tell us if all south Africans have to buy dispenser bottled just to drink water , whether south Africa spends 80 percent of it revenues paying salaries of Govt appointees that do little or nothing ... 20 Likes 3 Shares |
Re: RMAFC Wants VAT Increased To 7.5% by edlion57(m): 12:44pm On Jul 15, 2016 |
Are we really enjoying this change |
Re: RMAFC Wants VAT Increased To 7.5% by Izonpikin: 12:45pm On Jul 15, 2016 |
....e do happen íooo |
Re: RMAFC Wants VAT Increased To 7.5% by tempest01(m): 12:46pm On Jul 15, 2016 |
If we are seeing visible changes, i would not counter this. The tax ends up in a selected few accounts, and they end up spending the money abroad. At the end, life gets harder for the common man. Taxing is the easy part.....what is done with the taxes is the main issue;. 1 Like |
Re: RMAFC Wants VAT Increased To 7.5% by shakaZuIlu: 12:47pm On Jul 15, 2016 |
[s] omenka:[/s] Nonsense trash Buhari is a certified kunu drinker and an economic bokoharam 10 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by kaz4sure: 12:48pm On Jul 15, 2016 |
Increasing the VAT rate is a very wrong step and infact it will worsen the situation. There are so many companies in Nigeria that are not paying VAT, as per the recent statistics of FIRs that more than 70percent of companies registered with CAC are not paying monthly VAT. Methink that what government should do is to locate those hidden companies and bring them into the tax net rather than increasing the burden of those companies that are complying. 3 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by houstonia(m): 12:48pm On Jul 15, 2016 |
[size=13pt] Vat should only increase when True federalism has been implemented. Otherwise we'd just be making the federal government richer. More money to be stolen, more public servant children to be sent abroad. [/size] 7 Likes 1 Share |
Re: RMAFC Wants VAT Increased To 7.5% by kaz4sure: 12:51pm On Jul 15, 2016 |
Another questions that keep bothering my mind is that why should VAT be collected at the federal levy? Each state can collect their VAT and use it to develop their states rather than this monthly federal allocations of VAT where some lazy governors share from what they have not even contributor for. 5 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by dfav: 12:53pm On Jul 15, 2016 |
One APC supporter come beg me money , I told him to go and meet Tinubu and buhari... I say I dey crazy.. I told him to b man enough and take responsibility for his actions via voting a dullar and certificate less man to run his country economy 8 Likes 2 Shares |
Re: RMAFC Wants VAT Increased To 7.5% by ChikaSunday(m): 12:57pm On Jul 15, 2016 |
Islie: Buhari, Adeosun, the chairman of this commission and the entire federal executive council have proven again and again the umpteenth time that they ALL lack COMMON SENSE, VISION & CREATIVITY if making life difficult for the people they lead is the only way they will continue to OCCUPY SPACE at their offices. I wonder how they graduated from higher institutions of learning: did they hire people to write ALL their exams for them? Nonsense! 1 Like |
Re: RMAFC Wants VAT Increased To 7.5% by nonjebose(m): 1:09pm On Jul 15, 2016 |
RMFAC should go and sleep joor. State governments, who are the major beneficiaries of this planned increase in VAT should give account of all the monies they have borrowed or received from FG. Tax payers money dey sweet nah 2 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by Realdeals(m): 1:11pm On Jul 15, 2016 |
What is happening to stamp duty fund? I understand it generate up to N200 billion monthly. 2 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by Yasher: 1:11pm On Jul 15, 2016 |
Standard of living in Nigeria is also one of the lowest currently. Increasing the VAT is another indirect way of punishing innocent Nigerians who stood under the rain to vote change 3 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by Odani: 1:13pm On Jul 15, 2016 |
iamhorlufemi: my dear we live in a country where the govt take pride in inflicting pain on its citizen, 2 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by Rekit: 1:15pm On Jul 15, 2016 |
Almajiri1:Shut up there. When will Buhari make Nigeria great? After passing budget for over 4 months and there's nothing on ground to show. 2 Likes |
Re: RMAFC Wants VAT Increased To 7.5% by mujahib6199(m): 1:16pm On Jul 15, 2016 |
State & local government creation cannot be emphasis in d discussion of inter governmental regulations in a country DT embrace federalism. Critically explain |
Re: RMAFC Wants VAT Increased To 7.5% by sammyj: 1:26pm On Jul 15, 2016 |
Lazy recommendation from a lazy clueless institution!!! |
Re: RMAFC Wants VAT Increased To 7.5% by breakeven: 1:27pm On Jul 15, 2016 |
All this increases will not save Nigeria. The solution is for Baba Daura to search for intelligent Nigerians, whether home or abroad to help salvage Nigeria. his insistence on his tribal and religion people will only sink Nigeria deeper into economic quagmire. we need brains to salvage us. |
Re: RMAFC Wants VAT Increased To 7.5% by Almajiri1: 1:28pm On Jul 15, 2016 |
Rekit:Your bodi too dey hot. Over 3 trillion Naira has so far been captured in TSA with over $300 billion recovered from corrupt PDP members. You would agree with me that Nigeria shall be great again once these monies are plunged back into our economy. 1 Like |
Re: RMAFC Wants VAT Increased To 7.5% by Nobody: 1:36pm On Jul 15, 2016 |
Hehe, it's always more taxes and burden on the citizenry, nobody is even talking about raising the minimum wage. Even after all the mumbling. They convinced Nigerians that the power sector would only work if we paid a higher tarrif for a commodity we haven't seen, a bitter pill, the minister called it, the people swallowed, almost half a year of people paying the new tarrif, no improvement in the sector. They equally told us that there can only be supply of petrol if we paid so high for it, we be been paying, yet another scarcity is looming. Now it's an increase in VAT that would save us. Incompetence is like pregnancy, the more you try to cover and make excuses for it, the more glaringly it shows. 4 Likes 1 Share |
My Final Predictions For The Presidential Election / Inauguration: My Govt Will Engender More Massive Rural Development - Ugwuanyi / Updated List Of Countries Nigerians Can Travel To Without A Visa
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40 |