All civil servants should be rejoicing that God terminated Jonathan's evil planned agenda. Just as he gave us surprise on Jan 1st 2012 with fuel pump price hike, he had planned to increase the VAT from 5% to 10% if had won.

In his message, he expressed that the increment bill had already been forwarded to National Assembly. In his failed plot to achieve this, he is sending a message to Nigerians to bear the pain sacrificially if Buhari eventually executes his plan.

Thank God for the chattered plan. The Lord is at work in redeeming Nigeria from the umbrella of PDP.

By and large, Buhari dares not do that with this N18,000 minimum wages. May be when MW increase to N50'000

Lie lie

Do you know what VAT means? Mumu

Capital TRASH!

Sirniyeh:
All civil servants should be rejoicing that God terminated Jonathan's evil planned agenda. Just as he gave us surprise on Jan 1st 2012 with fuel pump price hike, he had planned to increase the VAT from 5% to 10% if had won.

In his message, he expressed that the increment bill had already been forwarded to National Assembly. In his failed plot to achieve this, he is sending a message to Nigerians to bear the pain sacrificially if Buhari eventually executes his plan.

Thank God for the chattered plan. The Lord is at work in redeeming Nigeria from the umbrella of PDP.

By and large, Buhari dares not do that with this N18,000 minimum wages. May be when MW increase to N50'000

A value-added tax (VAT) or also General
Sales tax (GST) is a form of consumption
tax. From the perspective of the buyer, it is
a tax on the purchase price. From that of the
seller, it is a tax only on the value added to a
product, material, or service, from an
accounting point of view, by this stage of its
manufacture or distribution. The
manufacturer remits to the government the
difference between these two amounts, and
retains the rest for themselves to offset the
taxes they had previously paid on the inputs.
The purpose of VAT is to generate tax
revenues to the government similar to the
corporate income tax or the personal
income tax.

The value added to a product by or with a
business is the sale price charged to its
customer, minus the cost of materials and
other taxable inputs. A VAT is like a sales tax
in that ultimately only the end consumer is
taxed. It differs from the sales tax in that,
with the latter, the tax is collected and
remitted to the government only once, at
the point of purchase by the end consumer.
With the VAT, collections, remittances to the
government, and credits for taxes already
paid occur each time a business in the supply
chain purchases products.

Sweetguy25:
Do you know what VAT means? Mumu

Sharp brain, tell us what VAT means?

Sirniyeh:
A value-added tax (VAT) or also General
Sales tax (GST) is a form of consumption
tax. From the perspective of the buyer, it is
a tax on the purchase price. From that of the
seller, it is a tax only on the value added to a
product, material, or service, from an
accounting point of view, by this stage of its
manufacture or distribution. The
manufacturer remits to the government the
difference between these two amounts, and
retains the rest for themselves to offset the
taxes they had previously paid on the inputs.
The purpose of VAT is to generate tax
revenues to the government similar to the
corporate income tax or the personal
income tax.

The value added to a product by or with a
business is the sale price charged to its
customer, minus the cost of materials and
other taxable inputs. A VAT is like a sales tax
in that ultimately only the end consumer is
taxed. It differs from the sales tax in that,
with the latter, the tax is collected and
remitted to the government only once, at
the point of purchase by the end consumer.
With the VAT, collections, remittances to the
government, and credits for taxes already
paid occur each time a business in the supply
chain purchases products.

copy and paste from google...sharp guy

Really? Is that so?

Brought to you from the stables of Mumuleaks.ng .

Op e gud now. There is nothing wrong with that, is just to suffer a little to enjoy later na. Na only for naija dem dey charge tax at the rate of 5%.

I watch him saying it loud on TV ...

vanndubi:


Sharp brain, tell us what VAT means?

[s]

Sirniyeh:
All civil servants should be rejoicing that God terminated Jonathan's evil planned agenda. Just as he gave us surprise on Jan 1st 2012 with fuel pump price hike, he had planned to increase the VAT from 5% to 10% if had won.

In his message, he expressed that the increment bill had already been forwarded to National Assembly. In his failed plot to achieve this, he is sending a message to Nigerians to bear the pain sacrificially if Buhari eventually executes his plan.

Thank God for the chattered plan. The Lord is at work in redeeming Nigeria from the umbrella of PDP.

By and large, Buhari dares not do that with this N18,000 minimum wages. May be when MW increase to N50'000

[/s]

Please keep your APC PROPAGANDA to yourself

If you are a bastard quote me

Igbos and failure sha,can you believed that's their hero..Likes truly beget likes.

True. He would have done it. FIRS are responsible to collect VAT and if implemented, the prices of end consumption product will increase.

this does not make any sense

Boss13:
True. He would have done it. FIRS are responsible to collect VAT and if implemented, the prices of end consumption product will increase.

Yes exactly. And the civil servants will carry the burden with their token receive as monthly salary

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This must have been one of the safest things to do during the PDP era. It's totally safe to play with live dead wire.

CLICK HERE TO SEE FOR YOURSELF

this must have been one of the safest things to do during the PDP era. It's totally safe to play with live dead wire.

[/url]

There is nothing wrong in increasing VAT... serious countries no longer depend on oil revenue to balance their budgets due to its volatility..government needs to diversify its revenue earning potentials if Nigeria hopes to survive...5% VAT is no longer sustainable, it is the lowest in the world... the regional average is 12%, while some countries pay as high as 18%.