Vice President Yemi Osinbajo has described the current five per cent Value Added Tax rate in the country as very low, adding that the Federal Government would increase the taxpayer base this year.

Osinbajo stated this on Thursday in Lagos in a keynote address at the 1st National Forum on the Economy organised by Vintage Press Limited, publishers of The Nation Newspapers.http://www.punchng.com/5-value-added-tax-too-low-osinbajo/

olas24u:
Vice President Yemi Osinbajo has described the current five per cent Value Added Tax rate in the country as very low, adding that the Federal Government would increase the taxpayer base this year.

Osinbajo stated this on Thursday in Lagos in a keynote address at the 1st National Forum on the Economy organised by Vintage Press Limited, publishers of The Nation Newspapers.http://www.punchng.com/5-value-added-tax-too-low-osinbajo/

No it isn't. Spending over 80 percent of nigeria's oil revenue on recurrent expenditure is both impractical and unreasonable.

Government should remove inefficient workers first before increasing any form of taxes.

Nigerians cannot pay more taxes just for the government to employ their children with our money.

it's like the government is deriving pleasure in the suffering of her citizens... God have mercy!!!

good thing this guy isn't respected under the northern government and serves as a houseboy because his idea would skyrocket the cost of living even more

Yeah, it's too low, get it to 20%, what about our telecoms tax, when are we going to start paying tax to make calls

How do you convince a man who generates his own electricity at N90/kwh to pay same tax being paid by his colleagues in countries where same electricity is generated for them at less than N30/kwh? The government wants the people to pay for government's failure.

Why does this administration derives Joy in inflicting pains and hardship on its citizens

Too low?

Just like your height and reasoning..

Oniranu....

Let's be honest here_
Osinbajo isn't doing anything_
The only sh1t he does is to Travel around Africa_
Info is Boss(Buhari) bout the Latest in Nigeria(if Buhari is on Touring mode).
Attend Occasions,Burials and Stoopid stuffs_
I really have great Doubts if dz man pays Tax_
Cuz all he does, is to say so Stoopid Annoying Bullsh1t which are very uncalled for_

They don't even what to think bout what we going through sef_
Increased 5% Tax too small?
Chai_
What a Country_
Only God serves_

Cut recurrent expenditure then we will know what is happening to this nations' tresury

If it were 5% minimum wage, would you have said its too small


Take time Mr. VP

Yesterday Oyo state Governor said to civil servants and I quote " ...we have to reduce your salaries...you cannot continue collecting the same salaries when the price of oil has fallen to $38/barel..."

But President Buhari salaries and allowances have not been reduced to reflect the current economic situation of the nation - in fact Mr. President (like Senator Saraki) has enjoyed very fat pension and allowances up to the period he started serving as civilian president. His family education, feeding and medicals are provided for in his packages as a serving President and a retired HOS/General. Where are the tax details on these fat emoluments.

Our 36 state Governors have open-cheque spending called security vote (usually in billions of naira) - since 1999 they never account for this money and nobody ever asked them. As at today there has not been any talk by RMAFC to review Governors or lawmakers take-home to reflect the economic situation.

They never talk about reducing their millions and billions or increasing taxes on the rich but every-time they always come for the poor (but our Vice President preaches Jesus).

Today Bill gate posted 2 economic indices from Nigeria on his twitter handle to underscore the fact that the Nigeria is still very rich but with incredibly high level of poverty. The man, like other foreigners, is confused why we are so hungry when all he sees is big money.

They have decided to keep us down - their salaries and allowances are in millions with some running into billions but they only want to increase taxes on N18k minimum-wage guys. They want to tax us more to keep-up their high life, pay their children salaries in CBN amd FIRS, and travel the globe with their families.

Fear any richman dat attend church very well dey are d must dangerous set of people



Speaking from experience









4 cryin out loud dis. OSHI-BU-NJO (oshibanjo) is a bishop


Has he eve mentioned dat dia salary is too high plus allowee

So des fuel subsidy can neve b removed

Bcus if u remove it we will buy fuel at d low rate so u don't want abi?


Tank GOD I have stoped hopin and prayin 4 nigeria 2 get beta

The fraudstar cum pastor has graduated from tithe and offering from his hypnotized gullible flock. And now want to dip his pigmi fingers into our 10% vat. Oloshi

Hmmmmmm! Osibande you too

Government must first increase confidence in its leadership before it yokes the people with an increased tax. There continues to be an abysmal utilization of taxes. No man, I believe, would be forced to pay his tax if he his not idle, has constant power, his children have access to qualitative education, his pregnant wife has a lower chance of dying in childbirth and a host of other things that make living meaningful.

The present govt are just devising new means to benefit from the citizen. But no particular plan for d. Citizens to benefit from the govt.. from fuel subsidy removal to #50 bank charges to present increase in tax... pls hw. r d citizens going to benefit from this govt?

We all know 5% is too small cos it won't be enough to sponsor you and PMB on his ''AROUND THE WORLD IN 365 DAYS'' project

This government is yet to realize that Nigeria is sitting on a ticking time bomb.Soon they will be engulfed in the revolutionary flames if they don't yield to the needs and longings of the common man.....

Yes ,osinbajo and buhari should increase vat to 50% -70%

Useless bunch of nuisances calling and parading themselves as progressive leaders,

Nigerians go suffer wella for dis ppl hands

Though Kenyans are paying 16% Value Added Tax but at least it is not a generator powered economy. How has the government at all levels managed the revenue accruing from what we are already paying that should embolden them to ask for more?

olas24u:
Vice President Yemi Osinbajo has described the current five per cent Value Added Tax rate in the country as very low, adding that the Federal Government would increase the taxpayer base this year.

Osinbajo stated this on Thursday in Lagos in a keynote address at the 1st National Forum on the Economy organised by Vintage Press Limited, publishers of The Nation Newspapers.http://www.punchng.com/5-value-added-tax-too-low-osinbajo/

common 18000 minimum wage, your government cannot pay.


#18, 000TooLow