Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,149,958 members, 7,806,774 topics. Date: Tuesday, 23 April 2024 at 11:27 PM

Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil (9964 Views)

Peter Obi On Biafra: "IPOB Agitation Won't End By Army Crackdown, Quote Me" / Paris Club Refund: Governors Resolve To Offset All Outstanding Consultants’ Fees / Panama: Documents Counter David Mark’s Denial Of Secret Assets In Tax Havens (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by bluecircle470: 11:56am On Sep 23, 2016
remisglobal:
This sad, while other countries are offering tax reduction for business continuity Nigeria Government is shutting down business for not paying tax

Did you just make a comment? Wow! shocked[sup][/sup]
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Nobody: 1:13pm On Sep 23, 2016
Youngzedd:


Kudos bro.


You nailed it. Anyone in this thread shouting pay tax and all this things are the problem of this nation. They are the ones that will collect the money at the end of the day.

Our government steal from us by underdeveloping us and massively looting money meant for infrastructure for their selfish interest,yet they want us to be patriotic citizens.It can never work.I'll continue evading tax payment because I don't benefit from it.

We spoon feed the lazy zombies we call leaders with our hard earned money,yet they steal from us with impunity and make laws that protects them.

1 Like

Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 1:20pm On Sep 23, 2016
nyben4eva:


Our government steal from us by underdeveloping us and massively looting money meant for infrastructure for their selfish interest,yet they want us to be patriotic citizens.It can never work.I'll continue evading tax payment because I don't benefit from it.

We spoon feed the lazy zombies we call leaders with our hard earned money,yet they steal from us with impunity and make laws that protects them.

Na so.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Pesuzok(m): 5:20pm On Sep 23, 2016
Lukmann1:
even they are collecting the tax money, it will still be stealed and shared between themselves, thief politicians.

Have you paid your tax?
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Pesuzok(m): 5:21pm On Sep 23, 2016
remisglobal:
This sad, while other countries are offering tax reduction for business continuity Nigeria Government is shutting down business for not paying tax

Are they not suppose to pay tax initially. Tax is not part of your profit
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Pesuzok(m): 5:24pm On Sep 23, 2016
nyben4eva:
In sane countries,citizens pay their taxes without having double thoughts of how the money generated from taxes would be used,but here in Nigeria the case is different because our wayward leaders will use our hard earned money to enrich themselves and cronies thereby making big fools out of tax payers.

Give me a good reason why I should pay my tax when I don't have access to good roads,electricity,healthcare,security etc.Taxation in Nigeria remains a scam because the common man doesn't benefit from it.

Pay your tax first, it is unconditional, before demanding for all these. Typical Nigerian
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Pesuzok(m): 5:26pm On Sep 23, 2016
idupaul:



Spot on ...this silly govt is ready to milk it's citizens just so they can survive . So what happens when a lot of companies declare red as is already the case and can't pay thier tax . We need to get productive because over taxing your already impoverished country is not diversification in any way

Tax should be factored in as cost of doing business. After tax you get your profit.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by idupaul: 5:46pm On Sep 23, 2016
Pesuzok:


Tax should be factored in as cost of doing business. After tax you get your profit.


So if a company declares a red after Gross what is the the govt going to do ..
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Pesuzok(m): 6:55am On Sep 24, 2016
idupaul:




So if a company declares a red after Gross what is the the govt going to do ..

Then the company won't pay tax. Are the companies declaring red after gross?
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 7:55am On Sep 24, 2016
nyben4eva:
In sane countries,citizens pay their taxes without having double thoughts of how the money generated from taxes would be used,but here in Nigeria the case is different because our wayward leaders will use our hard earned money to enrich themselves and cronies thereby making big fools out of tax payers.

Give me a good reason why I should pay my tax when I don't have access to good roads,electricity,healthcare,security etc.Taxation in Nigeria remains a scam because the common man doesn't benefit from it.

what you fail to grasp is our system and leaders refused to collect due taxes from the people in order to weaken any serious denial for good governance and accountability. It is proven that less than 20% of taxable adults pay, while lager part of those paying actually underpay.

Imagine the 20% complain about misuse of their tax by politicians and decide to shutdown the country or protest, they can hardly get the cooperation of the 80% who don't pay at all or are able to game the system. That will make the protest ineffective and not paying taxes actually play into the hands of corrupt politicians who have oil money available for looting. Most Nigerians don't directly feel the looting of oil money because it's not seen as their own sweat. That's why some people are comfortable to say since certain politicians and family members occupied some positions it's not a big deal to have $millions lodged in various accounts.

But remember to more accountable societies like South Africa are currently haranguing their president over the expenditure of $20 million on his personal housing project to the extent he agreed to pay it back to government coffers.

Meanwhile if you agree we don't have roads and infrastructure now and we don't have the oil money anymore, then be prepared to wait for the next oil boom to have them if you are not willing to pay your fair share to run the country.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Nobody: 10:03am On Sep 24, 2016
Ovamboland:


what you fail to grasp is our system and leaders refused to collect due taxes from the people in order to weaken any serious denial for good governance and accountability. It is proven that less than 20% of taxable adults pay, while lager part of those paying actually underpay.

Imagine the 20% complain about misuse of their tax by politicians and decide to shutdown the country or protest, they can hardly get the cooperation of the 80% who don't pay at all or are able to game the system. That will make the protest ineffective and not paying taxes actually play into the hands of corrupt politicians who have oil money available for looting. Most Nigerians don't directly feel the looting of oil money because it's not seen as their own sweat. That's why some people are comfortable to say since certain politicians and family members occupied some positions it's not a big deal to have $millions lodged in various accounts.

But remember to more accountable societies like South Africa are currently haranguing their president over the expenditure of $20 million on his personal housing project to the extent he agreed to pay it back to government coffers.

Meanwhile if you agree we don't have roads and infrastructure now and we don't have the oil money anymore, then be prepared to wait for the next oil boom to have them if you are not willing to pay your fair share to run the country.

I understand your point and I also indulge you to realize that I'm not an unpatriotic citizen.Paying of tax is a wonderful feeling you have in sane countries because you see the wonders been done with tax payers money.Though I pay my tax but indirectly because it's been deducted from my salary which I feel so bad about.

On the other hand,I feel so happy because in my personal businesses,I don't pay tax and I'm so happy about it because our leaders don't care about our well being and the success of of our businesses.

I provide my own water,light,security etc.Now,tell me why I should be happy paying my tax when I virtually provide everything for myself.All our roads are bad,no healthcare,no social amenitites;all we do is suffer and smile and always hope that it'll be well one day and that day is like forever.

You see trucks fall everyday and people lose their goods and money.The other day,I saw a thread of someone lamenting that their crops perished due to no road to transport the goods.

My friend,paying of tax in Nigeria remains a waste of hard earned money.

1 Like

Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:26am On Sep 25, 2016
idupaul:



Spot on ...this silly govt is ready to milk it's citizens just so they can survive . So what happens when a lot of companies declare red as is already the case and can't pay thier tax . We need to get productive because over taxing your already impoverished country is not diversification in any way

Is it possible to tax a red? or a business loss? Is it possible to tax the unemployed?

I think we should think before we type, if the people and business are the ones sustaining the government and not oil don't you think they will be more careful in making policies that will guarantee more businesses make profit and more people gain employment?

Can't you see the disdain from our government to the people is because Oil, not the sustain the government
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:30am On Sep 25, 2016
Youngzedd:


Spare us that bull crap.

All the ones they have been collecting where is it?

Tell me just one thing you benefit from being a Nigerian?


Upon all the taxes.



How much have you paid in tax in the last one year compared to what you earned?

How many people around do you know who earn but pay pay no tax?

Our company is small and our staff not highly paid but their PAYE is up to date, their widows mite is in the tax till
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:35am On Sep 25, 2016
nedu2000:
awoof how? Did the govt give me anything?did they in anyway help me to erect my biz?

The road you walk on from your house to your business, did you construct it?

The road your customers use to access your business did you build it all the way from their homes?

Are you aware the government in Lagos pays subsidy to waste PSP operators while subscribers pay another part to ensure the system runs smoothly?
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:37am On Sep 25, 2016
Youngzedd:


Kudos bro.


You nailed it. Anyone in this thread shouting pay tax and all this things are the problem of this nation. They are the ones that will collect the money at the end of the day.

It's clear your prefer the rise and fall nature of Nigerian economy to continue for ever, pay your tax!
You can escape tax even if you relocate abroad
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:42am On Sep 25, 2016
teemy:
another point when people say 'our money' i keep telling them it is not your money else you would know whom your local government chairmen and councellors are. maybe this tax implication would liven people up to oversee voted managers of the economy.

Your head dey there!

Even in developed world may want to escape the tax net, Messi just got convicted for evasion, Wesley Snioes was running about over tax issues and eventually went back home. Many want development, high speed trains efficient government but are not willing to lift a finger. When you pay the government all those it's my brother turn to rule, and it's time for my religion to be in power will naturally recede as people will be more interested in a candidates ability to effectively apply resources

1 Like

Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 6:56am On Sep 25, 2016
nyben4eva:


I understand your point and I also indulge you to realize that I'm not an unpatriotic citizen.Paying of tax is a wonderful feeling you have in sane countries because you see the wonders been done with tax payers money.Though I pay my tax but indirectly because it's been deducted from my salary which I feel so bad about.

On the other hand,I feel so happy because in my personal businesses,I don't pay tax and I'm so happy about it because our leaders don't care about our well being and the success of of our businesses.

I provide my own water,light,security etc.Now,tell me why I should be happy paying my tax when I virtually provide everything for myself.All our roads are bad,no healthcare,no social amenitites;all we do is suffer and smile and always hope that it'll be well one day and that day is like forever.

You see trucks fall everyday and people lose their goods and money.The other day,I saw a thread of someone lamenting that their crops perished due to no road to transport the goods.

My friend,paying of tax in Nigeria remains a waste of hard earned money.

But you are doing the opposite of what is expected of you. If you pay tax on your salary it's not fair on you if 80% others don't pay. Your advocacy should be for government to get its act together and cover more income earners. You don't grow a tree by constantly cutting it's stem and roots.
Your campaign here only emboldens those who are cheating you by not paying to continue.

SO far Nigeria only collects about 3% of GDP as taxes while some developed countries collect 30% of GDP to be used for government expenses and infrastructure, even South Africa collects about 20% of GDP as taxes every year.

Pray how will the government do all we expect with 3% of GDP before some guys here will start paying. The government needs 10 years to reach the One year tax performance of a developed nation yet we want quick recovery, are we not living in fools paradise
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by nedu2000(m): 7:35am On Sep 25, 2016
Ovamboland:


The road you walk on from your house to your business, did you construct it?

The road your customers use to access your business did you build it all the way from their homes?

Are you aware the government in Lagos pays subsidy to waste PSP operators while subscribers pay another part to ensure the system runs smoothly?
my road isn't tarred and PSP rarely come along
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 9:52am On Sep 25, 2016
Ovamboland:




How much have you paid in tax in the last one year compared to what you earned?

How many people around do you know who earn but pay pay no tax?

Our company is small and our staff not highly paid but their PAYE is up to date, their widows mite is in the tax till

The company I deal with automatically remove 5% on any money I pay them for tax. My office pays tax to the LGA and we're up to date.

Even the LGA tax we have been paying for ages, I am still looking for what they did with it.


Our country Nigeria is too rich to shut down businesses because of one yeye tax the money politicians will loot.

You can only be happy to pay tax when the government provides basic amenities.

Now I ask you, what have you benefited from Nigerian government upon all the trillions of tax they collect?


Lets not forget 50 NGN stamp charge on any money from 1,000 NGN and above.

Let's not forget the hike in fuel price and electricity bill.

Should I talk about paying for darkness.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 10:10am On Sep 25, 2016
Ovamboland:


It's clear your prefer the rise and fall nature of Nigerian economy to continue for ever, pay your tax!
You can escape tax even if you relocate abroad


Hehe, I am not saying I won't pay tax, as a matter of facts I do pay tax. But for them to shut down businesses is uncalled for.

Tax system in Nigeria is a fraud. More than 50% of the money enters personal pockets.

Yankee when you pay tax, you will be happy that you enjoy basic things of life, but here in Nigeria it's hell fire.


There's only one hell, the one we live in today. Nigeria is hell itself. There's nothing you will want in Nigeria without suffering to get. Even ordinary water, you have to struggle.

Someone packed 20 million dollars and said it's for medical when an average Nigerian treat Malaria with less than a dollar.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 10:23am On Sep 25, 2016
Ovamboland:


It's clear your prefer the rise and fall nature of Nigerian economy to continue for ever, pay your tax!
You can escape tax even if you relocate abroad

If they government needs money, they should arrest all past government officials, make them vomit every penny and place death sentence on corruption then refresh the tax system. That's tax will be applied to anyone selling in the country starting from a specific time and have incorruptible panel that will see over the taxes.

As for hunting businesses that have never paid tax, is like shutting down the economy of this nation.

Check the figures again and see how many that will be affected. When two elephants fights (government and business owners), the ants(employee) suffers.


A wise government should know what to do, but I found out that an average Nigerian is corrupt.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 3:53pm On Sep 25, 2016
Youngzedd:



Hehe, I am not saying I won't pay tax, as a matter of facts I do pay tax. But for them to shut down businesses is uncalled for.

Tax system in Nigeria is a fraud. More than 50% of the money enters personal pockets.

Yankee when you pay tax, you will be happy that you enjoy basic things of life, but here in Nigeria it's hell fire.


There's only one hell, the one we live in today. Nigeria is hell itself. There's nothing you will want in Nigeria without suffering to get. Even ordinary water, you have to struggle.

Someone packed 20 million dollars and said it's for medical when an average Nigerian treat Malaria with less than a dollar.


So no fear since you're up to date with your taxes, that's the social contract to live and do business in this country. Your campaign is not to stop paying but for the others under the search light to start paying their fair share and stop cheating you.

Have you considered the statistics out there that Nigerian governments collect only 3- 4% of GDP as taxes while South Africa is approaching 20% that means for their smaller economy the government actually has more money to spend on roads, power, rails, health (and of course to loot as Zuma is now under fire to account $20 million which we easily find in our own former first lady's account grin grin but Nigerian youths are asking she be left alone) compared to the deluded giant of Africa.

Mind you South Africa also have gold and many other minerals but sane people designed their system not with intention to loot. Don't even start with 1st world countries collecting 30% plus of their huge GDP. A state in the US like New York spends $120 Billion per year on it's 24 million people while the whole FG cannot find less than $20 billion to spend on the entire country. New York is not getting mineral derivation it's income is mainly from tax.

Lagos state with a 'huge' budget of $3 billion for it's 20 million people is spending the same fund for probably the New York Fire department yet we expect railway, power, paved roads, waste management, efficient fire department, standard healthcare like American own with that money.
Don't both Lagos and New York buy technology products like steel, cement, generators, vehicles etc from the same market?
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 6:16pm On Sep 25, 2016
Ovamboland:


So no fear since you're up to date with your taxes, that's the social contract to live and do business in this country. Your campaign is not to stop paying but for the others under the search light to start paying their fair share and stop cheating you.

Have you considered the statistics out there that Nigerian governments collect only 3- 4% of GDP as taxes while South Africa is approaching 20% that means for their smaller economy the government actually has more money to spend on roads, power, rails, health (and of course to loot as Zuma is now under fire to account $20 million which we easily find in our own former first lady's account grin grin but Nigerian youths are asking she be left alone) compared to the deluded giant of Africa.

Mind you South Africa also have gold and many other minerals but sane people designed their system not with intention to loot. Don't even start with 1st world countries collecting 30% plus of their huge GDP. A state in the US like New York spends $120 Billion per year on it's 24 million people while the whole FG cannot find less than $20 billion to spend on the entire country. New York is not getting mineral derivation it's income is mainly from tax.

Lagos state with a 'huge' budget of $3 billion for it's 20 million people is spending the same fund for probably the New York Fire department yet we expect railway, power, paved roads, waste management, efficient fire department, standard healthcare like American own with that money.
Don't both Lagos and New York buy technology products like steel, cement, generators, vehicles etc from the same market?

They have generated over 2 trillion already for the year, coupled with other means the FG get money and they still don't have money to finance the budget. Lets not talk about recovered loots and oil money.

They still want to borrow. Nigeria is a .......
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 8:40pm On Sep 25, 2016
Youngzedd:


They have generated over 2 trillion already for the year, coupled with other means the FG get money and they still don't have money to finance the budget. Lets not talk about recovered loots and oil money.

They still want to borrow. Nigeria is a .......

And how much is that compared to what their peers generate for projects and expenses, seems you are not getting it.
And the remaining 4 trillion will come from where?
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Youngzedd(m): 8:50pm On Sep 25, 2016
Ovamboland:


And how much is that compared to what their peers generate for projects and expenses, seems you are not getting it.
And the remaining 4 trillion will come from where?

Don't we have natural resources again


I am done with this argument.
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Ovamboland(m): 10:45am On Sep 26, 2016
Youngzedd:


Don't we have natural resources again


I am done with this argument.

The natural resources still underground and not making a dime or the one that has lost value?

We are talking of proven and sustainable models of development successfully used by former third world countries like Singapore, South Korea, yet in this time and age you are talking of commodity/ mineral export led economy that has failed us again and again.

We are talking of ownership by the people of their own government by being the chief benefactor and provider and you talk of a government controlled by mineral interests while the people are spectators as it happen in Nigeria today. Even resource awash oil countries are running deficit today.

This is not an argument just points based with thinking out of the resource box
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by luminouz(m): 3:41pm On Sep 30, 2016
[quote author=Tedassie post=49599128]
Your first comment in over 8yrs of membership.


LOL[/quote
Lolz! Yeah bro! Was in secondary SKUL then!
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Tedassie(m): 9:11pm On Sep 30, 2016
[quote author=luminouz post=49803310][/quote] You're a Legend...chop knuckle
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by luminouz(m): 9:29pm On Sep 30, 2016
Tedassie:

You're a Legend...chop knuckle
Lolz.... grin I prefer Star
Re: Diversification: Nigeria Hunts Down 700,000 Firms In Tax Crackdown To Offset Oil by Tedassie(m): 4:56am On Oct 01, 2016
luminouz:

Lolz.... grin I prefer Star
lol

(1) (2) (3) (Reply)

Why Buhari Won’t Interfere In Senate President, Speaker Positions – Tony Momoh / Lagos To Acquire 24% Stake In TBS, Lagos International Trade Fair / APC Intensifies Campaign For Mascot, Stresses Infrastructure, Welfare

(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. 82
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.