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Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty (22688 Views)

Men Who Stole POS Machines, Withdrew ₦4M To Play Bets Arrested In Niger State / N50 Stamp Duties POS Charge Begins / 50 Naira Stamp Duty For Transactions Above 1000 Naira (2) (3) (4)

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Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by nototribalist: 8:59pm On Nov 25, 2019
I'm dropping the use of cards ASAP

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Youngearnny(m): 9:00pm On Nov 25, 2019
CBN squeezing out money anyhow from the masses. This administration is so f*cked up. Border closed, inflation on the go, no security, no freedom of speech, high taxes and yet still the same salary...

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Sunisonflex39(m): 9:00pm On Nov 25, 2019
it would only be acceptable if it's transaction above 5k. then the N50 should be on us the customers.
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by TwoBottles: 9:00pm On Nov 25, 2019
tongue
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by EgunMogaji2: 9:01pm On Nov 25, 2019
I’ll never pay that N50 because I consider it highway robbery. I pay cash or do bank transfer.

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Kenturkey048(m): 9:02pm On Nov 25, 2019
Youngearnny:
CBN squeezing out money anyhow from the masses. This administration is so f*cked up. Border closed, inflation on the go, no security, no freedom of speech, high taxes and yet still the same salary...
and some bastards will still come open their sticking mouth to spew thrash..I keep saying may thunder strike all those that voted in buhari and hated Jonathan for tribal sentiments...may their generation never find peace..stupid country..they ain't saying anything ooh...if to say na Jonathan block border them for carry their jobless self protest...all the people rendered jobless from the day buhari blocked land border for cars to the day he finally closed the border may their sufferings be on all of you before you leave this earth...nonsense citizens...

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Nobody: 9:08pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

The problem is not paying tax, it is what our leaders have done with the tax they have received.

12 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by MWAD(m): 9:10pm On Nov 25, 2019
Our government is just creating problems for masses.Who wants to say now that,what they are doing is good ?...

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by KenMosi: 9:10pm On Nov 25, 2019
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The house is a very big 4 bedroom bungalow, it has 2 sitting rooms, all the bedrooms has toilet/bath, it has a big kitchen with store, the bigger sitting room has a toilet, the compound has 3 block dog cages and a parking store and generator house with an overhead tank.
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Tajbol4splend(m): 9:11pm On Nov 25, 2019
Greed is the start of liquidity
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by JamesHanu(m): 9:14pm On Nov 25, 2019
Okay tell me ever since we've emulated the tax stuff, what has changed?... I'm sure you can't tell me people aren't paying their taxes now with this cbn policy did anything changed on infrastructure aspects?.
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Bluffly: 9:16pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?
Oga, the countries you are talking about are seeing what they are paying for, but Nigerians are not. The countries you are talking about did not wait to tax citizens before putting up infrastructures as they sought out a way and they then maintain the standard with tax which can further develop other aspects but here government go for loan, they will embezzle it and keep increasing tax left and right and yet embezzle it. So is it the fault of the citizens or those in political leadership capacity.

10 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by jagojunior(m): 9:17pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

Clap for yourself, Weldon.
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by linearity: 9:19pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

The N50 is not tax, but a fee. People will still be asked to paid VAT, which is equivalent to sales tax that you referred to as operated in developed countries.

There is nothing like POS fees when you want to buy merchandise in the US. Though some merchants will add a fee if the cost of goods/services you are buying is below a particular threshold set by them and you can skip the fees by paying with cash or up your purchase to at least the minimum, which in most cases is like $10.

The other place you are charged fees is when you are using third party ATM machines for withdrawal, which already happens in Nigeria and in the US some banks will refund the ATM fees.

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Nobody: 9:20pm On Nov 25, 2019
I don't know much about Nigeria
But one thing is sure....this Naija is a sinking ship...

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Godhatesodomy: 9:22pm On Nov 25, 2019
Wow
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by firfinch(m): 9:24pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?
People are resistant to the policy because there is no accountability. We have heard of SureP when pump price was increased with all the promises. If people are sure the revenue generated will be put to effective use where everybody can feel and enjoy it, they will not complain

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by misterjosh(m): 9:26pm On Nov 25, 2019
That cap of 1000 naira is really too low, something around the region of 5000 naira would have been better.

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by simple250: 9:27pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?



The countries you just mentioned do they have steady power supply ?

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Systrom(m): 9:28pm On Nov 25, 2019
Godwin Emefiele’s tenure as CBN governor has been the worst.

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by blowjohn(m): 9:30pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?


I see big men and women complaining about this 50 Maura tax whenever am in a supermarket.
It's very funny. I mean, 50 naira?
I don't know if it's just part of our greedy tendencies or it's poverty of the mind in disguise.
Same way I see grown ass men and women buying cooked food in those small transparent plastic bags that can't be worth more than 1 or 2 Naira.
After finishing such a meal, they look for a place and spend in excess of 5 thousand naira on drinks.
Then u ask ur self how a man that complains about paying for a takeaway plastic of 100 naira, willingly spends a fortune an hour later on drinks.

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by simple250: 9:31pm On Nov 25, 2019
firfinch:
People are resistant to the policy because there is no accountability. We have heard of SureP when pump price was increased with all the promises. If people are sure the revenue generated will be put to effective use where everybody and feel and enjoy it, they will not complain



The guy just want us to be quoting him . No steady power,No water, health zero .

3 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by backnbeta(f): 9:32pm On Nov 25, 2019
I've jejely been making withdrawals to pay cash since I was told about the N50

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by backnbeta(f): 9:36pm On Nov 25, 2019
I've jejely been making withdrawals to pay cash since I was told about the N50 undecided

1 Like

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by maxiuc(m): 9:39pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?
at least those countries you mentioned use theirs for developments not embezzlement

We complain here in Nigeria because we don't get the desired services despite making sacrifice

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by firfinch(m): 9:40pm On Nov 25, 2019
simple250:




The guy just want us to be quoting him . No steady power,No water, health zero .
Imagine that. And to think of it, money is being budgeted naturally every year for all these sectors. Look at how people die of avoidable causes. If people get value for their money there would be no problem. I think we need to invite him to Nigeria for a #Good Time
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by pronto1(m): 9:42pm On Nov 25, 2019
KODENI DAFUN E... In this harsh country people living below 200naira a day, still corruption it's at it's peak in Abuja... MONI KONI DA FUN E LEKAN SI
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

6 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by buchhy(m): 9:44pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

Will the tax money be utilized in the appropriate sectors of the economy?

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by DennisEche(m): 9:49pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?
Zombie king, keep giving excuses, the countries you mentioned uses their taxes for the betterment of their land, could that be said of Nigeria? Common election they can't organise, watch and see how the revenue collected turns into admin cost in firs

3 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by Ubdavis(m): 9:51pm On Nov 25, 2019
Fadomero:
I don't where my once beloved naija is heading to cos the rate of poverty is bad bwari is full of empty promises

i actually don't where too
Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by ADAMUdaCOWBOY: 9:53pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?
Ignoramus is your name, have you ever travelled out of your village? In the developed world, you get cuts for making POS transactions not being charged. They are short changing you and here you are defending it. What is #50 indeed! God forbid!

2 Likes

Re: Merchants Upgrade POS Machines To Automatically Charge N50 Stamp Duty by aoyih(m): 9:56pm On Nov 25, 2019
Daviddson:
Very good! Nigerians envy the likes of US, UK, Germany, etc, but they're not ready to do half of what those countries citizens did or are doing that make their country so prosperous - a big irony! What's ₦50 that educated youths have been complaining about for months now? Do you think if French people don't pay taxes, VAT, etc, they'll be where they are today? In most developed countries, almost everything you buy or sell is taxed, so why the fuss here over a mere N50?

Bros, are you a Nigerian leaving in Nigeria

If yes, then you are close to corruption, else you would have known that our taxes are only meant to service the rich...

2 Likes

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