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Tax: Nigeria’s New Oil? - Politics - Nairaland

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Tax: Nigeria’s New Oil? by VAIDSNG: 1:33pm On Sep 18, 2017
Voluntary Asset and Income Declaration Scheme (VAIDS) is a scheme by the Federal Government to help increase tax awareness and compliance among Nigerians. This scheme grants all tax-paying citizens a limited opportunity to regularize their tax status without penalty or interest charges.

All citizens are advised to declare their assets as the Federal Government have put in place a team of international asset tracers and investigative specialists to help track assets held by Nigerians. The scheme would last from the 1st July 2017 to the31st March 2018 after which there will be no form of compassion for tax evaders who fail to utilize this scheme.

VAIDS offers a very flexible payment plan with provision for installment payments in the scheme. This scheme, like many other successfully implemented international tax schemes, will help to generate a substantial amount of revenue to complement the dwindling revenue generated from oil. The scheme is estimated to help generate about US$1billion worth of revenue. These funds would help to reduce Nigeria’s borrowing needs,spur development and allow investment in vital infrastructure.

To find out more about this scheme please visit: http://vaids.gov.ng/ or follow VAIDSNG on Twitter and Facebook. ideclareng on Instagram.

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Re: Tax: Nigeria’s New Oil? by otosa(m): 2:02pm On Sep 18, 2017
Declaration is for who has because if u wish to multiply one billion nothing believe me you will surely have one billion zero in return. Has it been all our polithielfcians are investing with the looting money here people will be able to get job and from there they will be able to pay tax in the polithielfcians will also have more money to loot but now no company no job and the Price of oil will soon drop. grin cheesy grin

5 Likes

Re: Tax: Nigeria’s New Oil? by mrvitalis(m): 2:08pm On Sep 18, 2017
Honestly ...

If you that a look at all the top 25 economy in the world

Compare gdp to their yearly national budget/revenue then compare what you see to Nigeria you would instantly know why we are undeveloped

You can have a national budget lest than 5% of your gdp and expect something serious

Until we have a budget of at least $100bn we can get any meaningful development

The people must be made to pay tax so taut they in turn would be forced to check mate their leaders and not be easily bribed or moved by sentiment during election

26 Likes 9 Shares

Re: Tax: Nigeria’s New Oil? by swagenity(m): 2:09pm On Sep 18, 2017
R
Re: Tax: Nigeria’s New Oil? by Dollabiz: 2:11pm On Sep 18, 2017
Hahahahahahahaha
Re: Tax: Nigeria’s New Oil? by ochiosa(m): 2:17pm On Sep 18, 2017
Do unemployed persons pay tax?

7 Likes

Re: Tax: Nigeria’s New Oil? by adedayourt(m): 2:17pm On Sep 18, 2017
They trying to increase revenue through tax but have failed to be prudent, transparent and accountable for the yesteryears of excess revenue they have enjoyed.

Shior

5 Likes 1 Share

Re: Tax: Nigeria’s New Oil? by nurey(m): 2:18pm On Sep 18, 2017
I have five Bentleys, Seven high rise towers worth millions of dollars, ten businesses raking in an average of $5,000 per month and atleast 100s of cars parked in different states in the country who am I

Answer: Tommy Vercetti grin

A country without data of the whole citizens living on her shores, no public assistance whatsoever to citizens, disregard for citizen welfare. Tax is like a relatinship which is supposed to be two way, you give and receive, the kind of government we run in this country is recieve only at the expense of your citizens.

Goodluck to the detectives and sniffers cheesy they really need it.

22 Likes 3 Shares

Re: Tax: Nigeria’s New Oil? by richidinho(m): 2:19pm On Sep 18, 2017
mrvitalis:
Honestly ...

If you that a look at all the top 25 economy in the world

Compare gdp to their yearly national budget/revenue then compare what you see to Nigeria you would instantly know why we are undeveloped

You can have a national budget lest than 5% of your gdp and expect something serious

Until we have a budget of at least $100bn we can get any meaningful development

The people must be made to pay tax so taut they in turn would be forced to check mate their leaders and not be easily bribed or moved by sentiment during election

hmmm..is Jonathan no longer our problem?

2 Likes

Re: Tax: Nigeria’s New Oil? by mrvitalis(m): 2:20pm On Sep 18, 2017
ochiosa:
Do unemployed persons pay tax?

Yes they do , in terms of vat , transportation , phone tax , luxury tax

We need to stop seeing tax as what is taken out of your monthly salary

Every money you spend 5%( which in every serious country is not less than 15%) is meant to go to the government

5 Likes

Re: Tax: Nigeria’s New Oil? by mrvitalis(m): 2:21pm On Sep 18, 2017
richidinho:


hmmm..is Jonathan no longer our problem?
You need help honestly

4 Likes 1 Share

Re: Tax: Nigeria’s New Oil? by silasweb(m): 2:22pm On Sep 18, 2017
They should re-struction the country then tax each region.

1 Like

Re: Tax: Nigeria’s New Oil? by Nobody: 2:23pm On Sep 18, 2017
Sense fall on this government small na
Re: Tax: Nigeria’s New Oil? by richidinho(m): 2:23pm On Sep 18, 2017
mrvitalis:

You need help honestly

grin grin grin
Re: Tax: Nigeria’s New Oil? by ednut1(m): 2:24pm On Sep 18, 2017
undecided

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Re: Tax: Nigeria’s New Oil? by Hofbrauhaus: 2:26pm On Sep 18, 2017
They wouldNOT provide you a job, you would hustle setup a small shop and they would want to use tax to run down your business...
Or you would collect loan to setup a business, and these thieves would want you to park all your money and give them as tax..what are they doing for the masses?

Thunder fire Nigeria!

9 Likes 1 Share

Re: Tax: Nigeria’s New Oil? by UfuomaUN(m): 2:27pm On Sep 18, 2017
When nearly all the youths are jobless, politicians have tax wavers, and thousands of business deals go on under radar and half of the employed pay less than 5k tax monthly and on and on.


Next please

2 Likes

Re: Tax: Nigeria’s New Oil? by Nobody: 2:28pm On Sep 18, 2017
¤ If you have Food in your house, Clothes on your body, A roof over your head and a place 2 sleep, You're richer than 75% of the entire world.
¤ If you have Money in your wallet, A little change, And Can go anywhere you want You are among the top 25% of the world's wealthy people.
¤ If you are alive today with more health than illness, You are more blessed than the million people who will not survive this week and die.
¤ If you can actually 'READ' this message and understand it, You are more fortunate than the 3 billion people in the world who cannot see, cannot read or suffer mental retardation.
¤ Life is not about complaining pain and sorrows. It's about a thousand other reasons to Thank God.

15 Likes

Re: Tax: Nigeria’s New Oil? by jordyspices: 2:29pm On Sep 18, 2017
Cool story
Re: Tax: Nigeria’s New Oil? by timilehing(m): 2:31pm On Sep 18, 2017
Unemployed people go join declare assets too?
I con dey wonder how people wey dey make money via Nairabet go dey pay tax grin grin
Re: Tax: Nigeria’s New Oil? by HAH: 2:31pm On Sep 18, 2017
The annoying part is you pay your tax only for someone to steal it and oppress you
Re: Tax: Nigeria’s New Oil? by takenadoh: 2:32pm On Sep 18, 2017
People are talking tax this, no be person when get them dey tax ni?
What of those that don't have?
When u haven't created enabling environment, u want to purnish those struggling, what have u done with the much u have?

electricity - poor
Security- very poor
Water - zero
Roads almost none


So what are the taxes for.?

2 Likes

Re: Tax: Nigeria’s New Oil? by Nobody: 2:32pm On Sep 18, 2017
Odiegwu... dear Nigerian government. We are not against paying tax..infact we would love to pay. As long as our tax money is used in fixing our roads and giving us good basic amenities, rather than ending up in Private pockets.

2 Likes 1 Share

Re: Tax: Nigeria’s New Oil? by stevecantrell: 2:39pm On Sep 18, 2017
this should be a pivot point for the next elections. Vote apc for taxes and more taxes. Or vote some other party..
Re: Tax: Nigeria’s New Oil? by yomalex(m): 2:39pm On Sep 18, 2017
seems so
Re: Tax: Nigeria’s New Oil? by Guyman02: 2:47pm On Sep 18, 2017
If tax in Nigeria is the new oil why is FG spending tax payers on looking for same oil in Lake Chad Basin that led to Boko Haram killing and abducting UNIMAID lecturers.
Why is the core North not predisposed to restructuring of Nigeria so that they can enjoy the 'new oil' without using the Army to invade the oil producing states in the South South and South East. Lubbish!

1 Like

Re: Tax: Nigeria’s New Oil? by 12345baba(m): 2:50pm On Sep 18, 2017
They kiss my black ass. Govt full of dummies
Re: Tax: Nigeria’s New Oil? by Nobody: 2:53pm On Sep 18, 2017
ochiosa:
Do unemployed persons pay tax?
Provided you're not earning any income, an unemployed person is exempted
Re: Tax: Nigeria’s New Oil? by benuejosh(m): 2:57pm On Sep 18, 2017
Britain survives on Tax and Fines majorly. Then Technology, Tourism, Education, e.t.c.

However, the issue of Tax is this, are people paying? How many People are paying?
What ways are being used to encourage others to pay? Who is the tax burden resting on mostly?
Are the cannons of Taxation in place?
Money generated, how judicious are this funds used?

People should be encouraged to pay taxes and if that is done, revenue generated should be used for the good of those who have paid and the common man. Let it be visible to those paying and beneficial to them, so that they will also be happy and know that yes their money is used judiciously and not "siphoned" to individual pockets.

Most countries survive on Taxes amd Fines. Especially those without Natural Resources and Technology. Even those with Technology as their source of Revenue have never left the issue of Tax at arms length.

If the money is Used properly, we all would enjoy.

1 Like

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