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FG To Increase VAT To 10% - Politics (2) - Nairaland

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Adeosun: 55% Of Nigeria’s VAT Is From Lagos / IMF Loan Wahala Continues: VAT To Double To 10%!! / FG To Increase VAT From 5% To 10% (2) (3) (4)

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Re: FG To Increase VAT To 10% by MrNL(m): 8:51pm On Aug 07, 2015
cheat..what good reason do they have for this? that's y fake factories like this http://yesreport..com/2015/08/expired-drugs-factory-discovered-n-lagos.html will continue to exist
Re: FG To Increase VAT To 10% by writetopoker: 8:51pm On Aug 07, 2015
@apc why? Is dis d change? Shame on u all idioticals

1 Like

Re: FG To Increase VAT To 10% by Nobody: 8:52pm On Aug 07, 2015
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

2 Likes

Re: FG To Increase VAT To 10% by funmilade4real(m): 8:52pm On Aug 07, 2015
Oya na
Re: FG To Increase VAT To 10% by OLAplusONE(m): 8:52pm On Aug 07, 2015
Wetin consign me
Re: FG To Increase VAT To 10% by xrayz(m): 8:53pm On Aug 07, 2015
make dem no try am oo
Re: FG To Increase VAT To 10% by tiamiyukunle69(m): 8:53pm On Aug 07, 2015
So far it will add value to us all.... Then no qualms
Re: FG To Increase VAT To 10% by Imortal001: 8:53pm On Aug 07, 2015
Okay!
Re: FG To Increase VAT To 10% by oloriooko(m): 8:53pm On Aug 07, 2015
This will translate to increased cost of commodities across board
Well this is a speculation for now and we hope due and appropriate consultation will be made.

God bless Nigeria
God help PMB
Re: FG To Increase VAT To 10% by skotch(m): 8:54pm On Aug 07, 2015
Painful but a necessary step to save our dying economy. Pray it works out for good.
Re: FG To Increase VAT To 10% by Gbengard(m): 8:54pm On Aug 07, 2015
whatever!
Re: FG To Increase VAT To 10% by Ask4bigneyo(m): 8:54pm On Aug 07, 2015
Baba go slow
Re: FG To Increase VAT To 10% by Nobody: 8:55pm On Aug 07, 2015
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.

1 Like

Re: FG To Increase VAT To 10% by Nobody: 8:55pm On Aug 07, 2015
writetopoker:
@apc why? Is dis d change? Shame on u all idioticals

Well, the fact is.....oil prices are falling.....so we need money top fund them government projects....and the sharing you Nigerians love.

As long as there is a glut in the oil production.....we will have low prices for oil....and as such.....not enough cash for the treasury.

You Nigerians should wake up to the fact that the era of free oil kudi is over. Now....go and work for your money. There is no national cake. At least APC is realistic about that.
Re: FG To Increase VAT To 10% by Mogidi: 8:57pm On Aug 07, 2015
Nigeria depends on crude exports for about 70 per cent of government revenue and more than 90 percent of foreign exchange.

Wow!
Nigeria is nothing without the Niger Delta, the goose that lay the golden egg.

6 Likes 2 Shares

Re: FG To Increase VAT To 10% by 2rutalk1: 8:57pm On Aug 07, 2015
Increasing VAT when the business environment is so hostile for manufacturing. It is evident that our leaders are only interested in raising public revenue which will be diverted to their private pulse without recourse to its negative implications on the living standard of the people. The macroeconomic environment in Nigeria is not favourable for businesses. What the government should do in the short run is to encourage enterpreurship through incentives and sound/friendly business environment. In that, businesses will thrivesn jobs will be created, the income of the people/companies will increase leading to a corresponding increase in personal income tax and business taxes.

2 Likes

Re: FG To Increase VAT To 10% by ikombe: 8:58pm On Aug 07, 2015
CR77:
Ode tongue
e dey pain u say u no first comment tongue
Re: FG To Increase VAT To 10% by koife(m): 8:59pm On Aug 07, 2015
Am not buharis fan, but we the citizen need to pull our sleeves and pay the price in order to salvage our already comatosed economy. Former rate can apply any longer given the economic realities of today.
No more free things....let be responsible.
Meanwhile PMB is fast winning my admiration....from proposal to produce local ammunition, cleaning of ogoni land and now to payment of ex militants.... Baba I might end up becoming your fan oooo
Good bless nigeria

1 Like

Re: FG To Increase VAT To 10% by ikkkkk: 8:59pm On Aug 07, 2015
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.
Re: FG To Increase VAT To 10% by Nobody: 9:00pm On Aug 07, 2015
We have enter one chance change.
Re: FG To Increase VAT To 10% by ikombe: 9:00pm On Aug 07, 2015
Buchukwu:
The zoo called Nigeria is collapsing. It should collapse fast fast.
have sense for once , if not for ur people but for nairalanders undecided

1 Like

Re: FG To Increase VAT To 10% by chesterlee(m): 9:01pm On Aug 07, 2015
CHANGE!!!!
Re: FG To Increase VAT To 10% by Nobody: 9:02pm On Aug 07, 2015
CR77:
No No No things would become expensive

Is this the change? Shame on APC
Your knowledge on Economics is on red...

1 Like

Re: FG To Increase VAT To 10% by Nobody: 9:03pm On Aug 07, 2015
kulobyno:
What d fvck. The 5percent has been an issue to biz men like me when applying for Tax Cearance. When you calcukate Vat for customers they scream. now 10 percent is nightmare.
#ishouldbeinghana
Ghana has a VAT Of 17.5%

2 Likes

Re: FG To Increase VAT To 10% by Nobody: 9:03pm On Aug 07, 2015
Na tithe?

1 Like

Re: FG To Increase VAT To 10% by Nobody: 9:03pm On Aug 07, 2015
Mogidi:


Wow!
Nigeria is nothing without the Niger Delta, the goose that lay the golden egg.
Wake up... Oil is loosing value daily..
Re: FG To Increase VAT To 10% by BlackBaron: 9:03pm On Aug 07, 2015
Nigerians don't like to pay tax but want good roads, schools and hospitals?

Even at 10%, it's one of the lowest in the world!

1 Like

Re: FG To Increase VAT To 10% by Mogidi: 9:06pm On Aug 07, 2015
Freemanan:

Wake up... Oil is loosing value daily..

Groundnut and Cocoa has appreciated a lot abi?

4 Likes 1 Share

Re: FG To Increase VAT To 10% by Nobody: 9:06pm On Aug 07, 2015
SenseiX:
Ghana has a VAT Of 17.5%
At last, someone with sense..

3 Likes

Re: FG To Increase VAT To 10% by Nobody: 9:07pm On Aug 07, 2015
Mogidi:

Groundnut and Cocoa has appreciated a lot abi?
Technology and Commerce owns the market now....
Re: FG To Increase VAT To 10% by Nobody: 9:07pm On Aug 07, 2015
Jarus:
This was a fait accompli
Exactly there was no other choice in the light of dwindling revenue base, even GEJ Planned to increase it if he had won, neighbouring Ghana's VAT is 17.5%, the govt should be wise in selling it to the public though, the fuel subsidy regime should also go...
Nigeria is effectively facing dire times and austerity measures are needed.
If we can take all these tough measures now, we can effectively wean the Nigerian economy from depending solely on oil
Re: FG To Increase VAT To 10% by Nobody: 9:08pm On Aug 07, 2015
BlackBaron:
Nigerians don't like to pay tax but want good roads, schools and hospitals?

Even at 10%, it's one of the lowest in the world!

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