Social media sensation, J.O is a popular entertainer who regularly undertakes live bookings at weddings. He lives a very lavish life, owns expensive watches, vehicles and recently bought a new property in Lekki which was valued at N50 million. J.O hired an accountant to handle all his tax affairs on his behalf; his accountant made filings to the revenue service agency and is expected to pay N1 million per annum as tax.

In 2015, J.O was booked to sing at a wedding in London for which he charged £10,000 and then proceeded on a European and American music tour which netted him over $50,000. However, J.O did not declare any of this additional income.

This is a common occurrence among entertainers, and Nigerians in general who earn money offshore. In a bid to encourage people like J.O to declare all their assets and income and regularize their tax status, the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme allows individuals to voluntarily declare all their assets and income, and also pay their outstanding tax liabilities without the usual penalties and interest charges. Neither will they be subjected to prosecution or tax audit. The scheme which started on the 1st of July 2017 will run till the 31st March 2018.

Tax payers that declare between 1st July and 31st December, 2017 will enjoy waivers from interest or penalty charges and won’t face prosecution or tax audit. Those that declare between 1st January to 31 March 2018 will face no prosecution, tax audit and won’t have to pay penalty charges, but interest will be payable in full.

So if you are like J.O, we know you like the good life and want a better Nigeria with good roads, electricity, jobs and better infrastructure but that can’t happen if you don’t take advantage of VAIDS. You can still buy watches for the culture while embracing a good tax paying culture.
To find out more about VAIDS please visit our official website: http://vaids.gov.ng/

Lol new method of money extortion and bribery, say no to marginalization and embrace a "Reconstructed Nigeria"

BTW, three FTC in just two days, our God is great, Lala and Seun am still waiting for my cash prize oo

Yeah the government needs the tax to survive, but what they've refused to address is how to curb those clowns in the Legislature, Executive (and maybe, Judiciary) who'll prolly use most of the taxpayers' money for personal runs. That, should be the 'koko' first! And I don't mean paying lip service or partisan politics to curb mismanagement of public funds; there must be NO 'sacred cows or untouchables'.

Only then WILL Nigerians be happy to pay their taxes even before the (so-called) government requests for it.

I don't even know what to add

.

In Nigeria, you are your own minister of power, minister of works and housing, minister of education, minister for defence, minister for transportation, in fact, minister of everything. Now tell me, who collects money or services he didn't provide?

Tax is the new oil.


If only the government would use it for infrastructural development rather than ending up in someones backyard.

pay which tax and who are those in charge of collecting tax for the federal government. Hmm another means of looting.

For those of you who buy a lot of treasury bills and bonds well this right here (Tax) is one of the major ways the government will pay back all the money you guys lent them. So pay your tax and encourage others to do so. Expect more increase in taxes though.

VAIDSNG:
Social media sensation, J.O is a popular entertainer who regularly undertakes live bookings at weddings. He lives a very lavish life, owns expensive watches, vehicles and recently bought a new property in Lekki which was valued at N50 million. J.O hired an accountant to handle all his tax affairs on his behalf; his accountant made filings to the revenue service agency and is expected to pay N1 million per annum as tax.

In 2015, J.O was booked to sing at a wedding in London for which he charged £10,000 and then proceeded on a European and American music tour which netted him over $50,000. However, J.O did not declare any of this additional income.

This is a common occurrence among entertainers, and Nigerians in general who earn money offshore. In a bid to encourage people like J.O to declare all their assets and income and regularize their tax status, the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme allows individuals to voluntarily declare all their assets and income, and also pay their outstanding tax liabilities without the usual penalties and interest charges. Neither will they be subjected to prosecution or tax audit. The scheme which started on the 1st of July 2017 will run till the 31st March 2018.

Tax payers that declare between 1st July and 31st December, 2017 will enjoy waivers from interest or penalty charges and won’t face prosecution or tax audit. Those that declare between 1st January to 31 March 2018 will face no prosecution, tax audit and won’t have to pay penalty charges, but interest will be payable in full.

So if you are like J.O, we know you like the good life and want a better Nigeria with good roads, electricity, jobs and better infrastructure but that can’t happen if you don’t take advantage of VAIDS. You can still buy watches for the culture while embracing a good tax paying culture.
To find out more about VAIDS please visit our official website: http://vaids.gov.ng/

Really? Jokers. How are we so sure when we pay our taxes it won't suffer the same fate like funds from the Paris Club Refund or the monthly FAAC? Until when proper accountability or a judicious record of how public funds are spent is adhered to, this gospel according to VAIDS na wash.

Nigerians dey pay tax? Their own na to give bribe and bone.

Nostradamu:




Really? Jokers. How we so sure when we pay our taxes it won't suffer the same fate like the Paris Club Refund or the monthly FAAC?

VAIDSNG, oya. Over to you.

Nigerian govt doesnt deserve getting a dime. We survive in this country not due to govt but rather INSPITE of govt!. its funny how you guys cited an example using Nations whose worst leaders are better than our best can ever be. So you guys are no more contented with frolicking oil money without answering to anyone? you now want the little we make against all the odds you created?

Whenever we leave Nigeria to countries like the ones you cited, we would gladly pay tax, perhaps even upfront but for naija, forget it. You lots would squander it and still have the nerve to tell us we have no right to question how you spent it or where you spent it.

Who is J O?

So the new printed notes cbn is dropping at FG doorstep isnt enough.

einsteino:
Nigerian govt doesnt deserve getting a dime. We survive in this country not due to govt but rather INSPITE of govt!. its funny how you guys cited an example using Nations whose worse leaders are better than our best can ever be. So you guys are no more contented with frolicking oil money without answering to anyone, you now want the little we make against all the odds you created.

Whenever we leave Nigeria to countries like the ones you cited, we would gladly pay tax, perhaps even upfront but for naija, forget it. You lots would squander it and still have the nerve to tell us we have no right to question how you spent it or where you spent it.

God bless you, my person. #Ourmumudondo true-true!

The question I want answered is how government will catch defaulters? .

einsteino:
Nigerian govt doesnt deserve getting a dime. We survive in this country not due to govt but rather INSPITE of govt!. its funny how you guys cited an example using Nations whose worse leaders are better than our best can ever be. So you guys are no more contented with frolicking oil money without answering to anyone, you now want the little we make against all the odds you created.

Whenever we leave Nigeria to countries like the ones you cited, we would gladly pay tax, perhaps even upfront but for naija, forget it. You lots would squander it and still have the nerve to tell us we have no right to question how you spent it or where you spent it.

People wey dey crase. Imagine, if nobi say people shout for that 'Grasscutter-in-Chief of the Federation' (aka Babachir Lawal or wetin bi hin name sef), naso the guy for still dey there dey 'flenjour'. Ba**tards! Money that was meant to cater for Nigerians that were ravaged by coward-haram insurgency, in the Northeast, dem do am anyhow. No mercy or empathy anymore.

Now, crude oil is gradually becoming irrelevant, they've dug up new ways to milk Nigerians like cows. Don't get me wrong. Paying tax is more like a fundamental right of the nationals in any country, but when the (B)leaders of Nigeria see their citizens as ATMs, what do you expect us to think when they come up with such a laudable tax campaign? Your guess is good as mine.

Still on still sha.

i have a question to ask VSAIDNG
Countries that often pay tax have social welfare systmes in place, forget roads , housing and security, those are the basics, welfare packages like payment for the unemployed, benefitts for the disabled, benefits for women who are caretakers, what do we get for payment of taxes in Nigeria.
No 2, in countries where taxes are paid, there are things called tax returns where u can claim certain amount of money when you file and have dependents, i know that the IRS pays citizens when they file tax retursn certain times, what incentives do we as Nigerians get for filing our taxes.
Are we the oil wells for the governors to eat, marry more wives and build Dubai houses.
Do we as citizens give, give and give and gain nothing in return"

Rubbish thread.
I be don dey vex this afternoon but this thread just make me vex more

ehie:
i have a question to ask VSAIDNG
Countries that often pay tax have social welfare systmes in place, forget roads , housing and securities, those are the basics, welfare packages like payment for the unemployed, benefitts for the disabled, benefits for women who are caretakers, what do we get for payment of taxes in Nigeria.
No 2, in countries where taxes are paid, there are things called tax return where u can claim certain amount of money when you file and have dependents, i know that the IRS pays citizens when they file tax ereturs certain times, what incentives do we as Nigerians get for filing our taxes.
Are we the oil wells for the governors to eat, mary more wives and build Dubai houses.
Do we as citizens give, give and give and gain nothing in return"

No mind them. Awon wayray people. Dem dey crase.

VAIDSNG:
Social media sensation, J.O is a popular entertainer who regularly undertakes live bookings at weddings. He lives a very lavish life, owns expensive watches, vehicles and recently bought a new property in Lekki which was valued at N50 million. J.O hired an accountant to handle all his tax affairs on his behalf; his accountant made filings to the revenue service agency and is expected to pay N1 million per annum as tax.

In 2015, J.O was booked to sing at a wedding in London for which he charged £10,000 and then proceeded on a European and American music tour which netted him over $50,000. However, J.O did not declare any of this additional income.

This is a common occurrence among entertainers, and Nigerians in general who earn money offshore. In a bid to encourage people like J.O to declare all their assets and income and regularize their tax status, the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme allows individuals to voluntarily declare all their assets and income, and also pay their outstanding tax liabilities without the usual penalties and interest charges. Neither will they be subjected to prosecution or tax audit. The scheme which started on the 1st of July 2017 will run till the 31st March 2018.

Tax payers that declare between 1st July and 31st December, 2017 will enjoy waivers from interest or penalty charges and won’t face prosecution or tax audit. Those that declare between 1st January to 31 March 2018 will face no prosecution, tax audit and won’t have to pay penalty charges, but interest will be payable in full.

So if you are like J.O, we know you like the good life and want a better Nigeria with good roads, electricity, jobs and better infrastructure but that can’t happen if you don’t take advantage of VAIDS. You can still buy watches for the culture while embracing a good tax paying culture.
To find out more about VAIDS please visit our official website: http://vaids.gov.ng/

Nice.

I think this should go on https://taxprof.com.ng

What do you say?

The taxes we've been paying voluntarily, what have we to show for it if not hardship upon hardship. Politicians and top government workers are living off the average nigerians.


As if that isn't enough, they are planning the re-introduction of toll fares. Who will bear the brunt if not the masses.


We still have a long way to go.

Nostradamu:

Really? Jokers. How are we so sure when we pay our taxes it won't suffer the same fate like funds from the Paris Club Refund or the monthly FAAC? Until when proper accountability or a judicious record of how public funds are spent is adhered to, this gospel according to VAIDS na wash.

ehie:
i have a question to ask VSAIDNG
Countries that often pay tax have social welfare systmes in place, forget roads , housing and securities, those are the basics, welfare packages like payment for the unemployed, benefitts for the disabled, benefits for women who are caretakers, what do we get for payment of taxes in Nigeria.

No 2, in countries where taxes are paid, there are things called tax return where u can claim certain amount of money when you file and have dependents, i know that the IRS pays citizens when they file tax ereturs certain times, what incentives do we as Nigerians get for filing our taxes.
Are we the oil wells for the governors to eat, mary more wives and build Dubai houses.
Do we as citizens give, give and give and gain nothing in return"

I think you have raised valid questions but this approach will not work
The law requires that you pay tax whether or not your road is taxed. You cannot link provision of service to tax payment
That is the law
As an individual, if they zero in on you, no matter your postings on Nairaland, there is nothing you can do

My suggestion is that since they have come to Nairaland to campaign for tax payment, then let there be a thread which will be operated like a conference. Let all the VAIDS people (FIRS, Office of VP, Minister of Fin etc) join in (they can have one person responding on Nairaland) and let a team of Nairalanders be on the other side.

Nairaland should undertake to declare their assets and income and commit to getting others to do so. But the government must in return do
1, 2, 3, 4

And then the meeting should agree on how to enforce compliance by both sides

I believe collective negotiation is the only way to extract a promise from the government. Again, remember nobody can individually engage the government on tax matters if s/he is in defalut

BetaThings:





I think you have raised valid questions but this approach will not work
The law requires that you pay tax whether or not your road is taxed. You cannot link provision of service to tax payment
That is the law
As an individual, if they zero in on you, no matter your postings on Nairaland, there is nothing you can do

My suggestion is that since they have come to Nairaland to campaign for tax payment, then let there be a thread which will be operated like a conference. Let all the VAIDS people (FIRS, Office of VP, Minister of Fin etc) join in (they can have one person responding on Nairaland) and let a team of Nairalanders be on the other side.

Nairaland should undertake to declare their assets and income and commit to getting others to do so. But the government must in return do
1, 2, 3, 4

And then the meeting should agree on how to enforce compliance by both sides

I believe collective negotiation is the only way to extract a promise from the government. Again, remember nobody can individually engage the government on tax matters if s/he is in defalut

lol

room089:

As if that isn't enough, they are planning the re-introduction of toll fares. Who will bear the brunt if not the masses.
.

I support tolling out of expediency. The roads are not maintained. The toll will be around N300 - N500 per vehicle. I think a ditch can cause damage to your car that will require more than N1,000 to fix
But there must be conditions
Toll revenue must be isolated and used solely for road maintenance and they must tell us how much they make and how much they spend
Tolling should reflect federal characters. All the 6 Geo Political Zones must have tolled roads

crazygod:
Who is J O?

na jolomi broda

BetaThings:


I support tolling out of expediency. The roads are not maintained. The toll will be around N300 - N500 per vehicle. I think a ditch can cause damage to your car that will require more than N1,000 to fix
But there must be conditions
Toll revenue must be isolated and used solely for road maintenance and they must tell us how much they make and how much they spend
Tolling should reflect federal characters. All the 6 Geo Political Zones must have tolled roads

Bro I got your point.

1. Did you bother to ask why tolls were scrapped during Obasanjo's regime?

2. Did we enjoy good roads when we paid tolls?

3. Is there any difference between successive regimes THEN that misappropriated toll proceeds and the regime we have now in terms of administration and management?

4. Hope you know concessionaires will be allow to wade in; you think they will fare any better? What happened in the electricity sector should be an eye opener here!


Just take it or leave it: government has the capacity to be fixing the roads without the re-introduction of tolls. Even if we pay tolls, they won't fix our roads unless God arrests our leaders. Where a system is not working, nothing works.

VAIDSNG:
Social media sensation, J.O is a popular entertainer who regularly undertakes live bookings at weddings. He lives a very lavish life, owns expensive watches, vehicles and recently bought a new property in Lekki which was valued at N50 million. J.O hired an accountant to handle all his tax affairs on his behalf; his accountant made filings to the revenue service agency and is expected to pay N1 million per annum as tax.

In 2015, J.O was booked to sing at a wedding in London for which he charged £10,000 and then proceeded on a European and American music tour which netted him over $50,000. However, J.O did not declare any of this additional income.

This is a common occurrence among entertainers, and Nigerians in general who earn money offshore. In a bid to encourage people like J.O to declare all their assets and income and regularize their tax status, the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme allows individuals to voluntarily declare all their assets and income, and also pay their outstanding tax liabilities without the usual penalties and interest charges. Neither will they be subjected to prosecution or tax audit. The scheme which started on the 1st of July 2017 will run till the 31st March 2018.

Tax payers that declare between 1st July and 31st December, 2017 will enjoy waivers from interest or penalty charges and won’t face prosecution or tax audit. Those that declare between 1st January to 31 March 2018 will face no prosecution, tax audit and won’t have to pay penalty charges, but interest will be payable in full.

So if you are like J.O, we know you like the good life and want a better Nigeria with good roads, electricity, jobs and better infrastructure but that can’t happen if you don’t take advantage of VAIDS. You can still buy watches for the culture while embracing a good tax paying culture.
To find out more about VAIDS please visit our official website: http://vaids.gov.ng/

Pls for someone who works wit private firms and has just savings, is the person still supposed to declare.

What is the rate to be taxed on the savings?


Thank u.

Nostradamu:




Really? Jokers. How are we so sure when we pay our taxes it won't suffer the same fate like funds from the Paris Club Refund or the monthly FAAC? Until when proper accountability or a judicious record of how public funds are spent is adhered to, this gospel according to VAIDS na wash.

And this is why Nigeria will never move forward. You can never trust it's leaders to do the right thing which in turn means it's citizens will never do the right thing.