Nice one from the Brits. I wish those mega looters,especially frm the xoo,like tinibi,burantashi,fall for this..

Meanwhile,somewhere in the xoo, coneheads dey panic over the properties,mansions of ipobians. They want to tiff ipob properties becos of their dirty village huts,slums,ghettos,brown roofs,etc.


thunda faya dem

charain:


The UK government made new anti-money laundering law which is targeted at all foreigners but you had
to credit Buhari for the initiative, SMH.

And what is the result of the new UK law?

I Neva see d western country wey worst pass Britain,america,france and Russia beta pass dem cos Na dem dey teach our leaders how to steal.

maclatunji:
Yet, some people impoverished by these thieving elite will want to remove the government that is ensuring this kind of landmark reforms thereby allowing looting to resume unabated.

It will not happen I hope. Godwilling, President Buhari will be granted the health, long life and ability to see through these fundamental reforms.

please, how is buhari the president of UK or a UK law maker...... Stop talking from a beclouded point of view

OgambaHH1:
Good development, but those properties to be seized should be returned to the person national govt

For reallocation, I guess?

We are here to support you if you or someone you know need a tax consultant or accountant.

Cheers!

FarahAideed:


Stop being mischievous what has Buharis poor leadership got to do with UKs anti money laundering stance ..Buhari is is a failed terrorist and must be shown the way out

and Britain also considering Naira for international trade sheh na or work bah not buhari efforts!

maclatunji:
Yet, some people impoverished by these thieving elite will want to remove the government that is ensuring this kind of landmark reforms thereby allowing looting to resume unabated.

It will not happen I hope. Godwilling, President Buhari will be granted the health, long life and ability to see through these fundamental reforms.

Is it Buhari that enacted the law in UK?

Not sure you read the piece at all

ProYouAdminsUK:
UK govt's way of looting our wealth.

Who is the real looter of Nigeria, the corrupt foolish Nigerian politician or the UK govt who sponsored and facilitated the looting and has possession of the looted funds which they eventually takes ownership of ?

they return %30 and take70%

This event should be imitated in the US, Dubai and canada. All those previous and current politicians will just be traveling as if they are visiting toilets

duni04:

So it is a requirement of the new UK legislation that you place a phone call to the VAIDS office and your property is safe?

No it is a requirement of the UK law that you prove your source of health.

Oga pls read and understand. You cannot own property in the UK without any legal traceable source of income.

No, you can own property in the UK without traceable source of income, if you can't , the new law is unnecessary,
though it will be more difficult to keep such properties now that the law is in place.

VAIDS is a framework apart from the UK legislation that allows tax defaulters to regularise their taxes and get waivers from the FG. Since the Tax database of the FIRS is now open to the UK authorities, anyone that is not captured in our database or that understates his income in our database and then goes to buy property in the UK will risk losing it. So anyone in that situation will want to go to the VAIDS office and give his correct income statement in order to justify ownership of the UK property. This will lead to massive increase in tax revenues for the FG. VAIDS is a laudable program from the Ministry of Finance.

You don't need all this long grammar. Will anyone use VAIDS if they are not mandated to? No.

So who deserves credit, the creator of VAIDS or the one mandating some people to use it?
If there was no VAIDS will all Nigerians lose their properties in the UK? No, they will use
whatever tax option is available.

duni04:

Oga try to read before typing. VAIDS is an initiative of the Ministry of Finance to help tax defaulters regularise their income and declare income and taxes that correspond to their assets. Someone that owns a house in the UK worth 1million pounds cannot be paying income tax of 20,000 naira in Nigeria. There will be information sharing between the UK government and the Finance ministry so that anyone who declares income tax of N20,000 in Nigeria will not have the audacity to go and buy a house in the UK when he knows the Ministry of Finance in Nigeria would have told the UK authorities that you obviously have no legitimate means of livelihood, judging by your tax returns, to support that asset. The UK government can then go ahead and seize the property.

I think you need the understanding. Some people who have not been paying tax are being
forced to declare their asset by a new law created by the UK and you want to credit VAIDS.
What will happen to citizens of other countries who don't have VAIDS, will they apply for Nigerian citizenship
so that VAIDS can save them

VAIDS or no VAIDS, the UK law stands and anybody who don't want to lose their property must find
a way to prove their income. You should praise the UK government for doing the enforcement job of
Nigeria's tax agency.

maclatunji:


And what is the result of the new UK law?

No one is disputing the result of the UK law, they are helping Nigeria enforce its tax law,
so the UK deserve praise, not the Nigerian government.

maclatunji:
Yet, some people impoverished by these thieving elite will want to remove the government that is ensuring this kind of landmark reforms thereby allowing looting to resume unabated.

It will not happen I hope. Godwilling, President Buhari will be granted the health, long life and ability to see through these fundamental reforms.

Reforms that are making the poor poorer and the rich richer.

What is FG doing to bridge the income gap?

Many adults today who don't have paid employment don't make up to N500 in a day?

How many lower or middle class Nigerians have fared better under APC if not news of burning farms, herdsmen killings, loss of jobs, shutdown of businesses.?

Even if you are not an economist or businessman, learn to feel the pulse of the masses.

charain:


I think you need the understanding. Some people who have not been paying tax are being
forced to declare their asset by a new law created by the UK and you want to credit VAIDS.
What will happen to citizens of other countries who don't have VAIDS, will they apply for Nigerian citizenship
so that VAIDS can save them

VAIDS or no VAIDS, the UK law stands and anybody who don't want to lose their property must find
a way to prove their income. You should praise the UK government for doing the enforcement job of
Nigeria's tax agency.

U don't seem to understand how VAIDS work!!! let me briefly enlighten you
First and famous VAIDS means Voluntary Assets and Income Declaration scheme
It is an initiative by the Federal ministry of finance in Collaboration with FIRS Federal Inland Revenue Service, SIRB, State Internal revenue boards as well as Joint Tax force

VAIDS as a scheme is as a result of fall in the general price of crude oil, and as a typical Nigerian u ought to have known the level at which Nigeria depends on crude, so in other to boost the revenue generation of the federal government and reduce dependence on crude, the government decided VAIDS is the alternative. given the success rate at which VAIDS has achieved in other countries like Ghana, India, to mention but a few

VAIDS, as a scheme has window period during which u are expected to voluntarily declare your assets which started from June 2017 and is due to elapse by 31st May 2018

what this means is that when u declare your assets within this window period, there would be neither Interest nor penalty for the lengthy years u have have defaulted or not been paying tax, but rather you would pay for just 6 months u owed with zero interest, but after the window period which is due by 31st may 2018 u would pay all the lengthy years u have been owing even if is it 50 years of tax default plus Interests!!

These is the reason the Federal Government decided to train Community Tax liaison officers CTLO'S to work with their Various States Internal Revenue boards, in each and every state of the country to create awareness on VAIDS.

Note. VAIDS is not just for the rich alone but each and every citizen of the country, irrespective of weather you have assets or not, within or outside the country. Declare all your assets and pay due Taxes. 31st is just a month plus declare your assets to avoid penalties


MOHAMMED BALA ABDULLAHI
Niger State CTLO

Richimills:
Irrespective of how they own these properties,
Why didn't the US government do this before the foreigners acquire the properties?

Wrong news . I thought we where talking UK .

rhymesnoni:


U don't seem to understand how VAIDS work!!! let me briefly enlighten you
First and famous VAIDS means Voluntary Assets and Income Declaration scheme
It is an initiative by the Federal ministry of finance in Collaboration with FIRS Federal Inland Revenue Service, SIRB, State Internal revenue boards as well as Joint Tax force

VAIDS as a scheme is as a result of fall in the general price of crude oil, and as a typical Nigerian u ought to have known the level at which Nigeria depends on crude, so in other to boost the revenue generation of the federal government and reduce dependence on crude, the government decided VAIDS is the alternative. given the success rate at which VAIDS has achieved in other countries like Ghana, India, to mention but a few

VAIDS, as a scheme has window period during which u are expected to voluntarily declare your assets which started from June 2017 and is due to elapse by 31st May 2018

what this means is that when u declare your assets within this window period, there would be neither Interest nor penalty for the lengthy years u have have defaulted or not been paying tax, but rather you would pay for just 6 months u owed with zero interest, but after the window period which is due by 31st may 2018 u would pay all the lengthy years u have been owing even if is it 50 years of tax default plus Interests!!

These is the reason the Federal Government decided to train Community Tax liaison officers CTLO'S to work with their Various States Internal Revenue boards, in each and every state of the country to create awareness on VAIDS.

Note. VAIDS is not just for the rich alone but each and every citizen of the country, irrespective of weather you have assets or not, within or outside the country. Declare all your assets and pay due Taxes. 31st is just a month plus declare your assets to avoid penalties


MOHAMMED BALA ABDULLAHI
Niger State CTLO

From your post fee questions .
1 what TAX
2 How does this TAX affect Houses owned by Nigerians in the UK ? ??

charain:

No one is disputing the result of the UK law, they are helping Nigeria enforce its tax law,
so the UK deserve praise, not the Nigerian government.

I think you lots ate misunderstanding what the UK govt is saying . There is nothing like new law rather change of proccess . B4 u can buy a house here without stating your name via proxy . The govt changed that . The proxy has to state the name of the Original buyer . This was as a result of credit crunch brought about by bad debt which originated from the US .
It may be worthy to Note that this has nothing to do with Nigerians who live amd work in the UK rather them ones who do not .
So if you ate a counsellor in Lagos and buy a house in London which is a er age @£300k x N500 . Since your name is now viable to the UK government they can now ask you directly to show proof of income . Check if you transfered the money to the uk fru legal means and paid tax therof . .Even if you declare 5 his property in Nigeria you still have to show proof of income as U do not ha e credit history in the uk .

Afritop:
This event should be imitated in the US, Dubai and canada. All those previous and current politicians will just be traveling as if they are visiting toilets

Nigerians are poor.the targets are China and Russia .

maclatunji:


And what is the result of the new UK law?

If you do not live in the UK and have dirty money do not buy houses in the UK cos you will lose it since you can share proof of your income

erico2k2:

From your post fee questions .
1 what TAX
2 How does this TAX affect Houses owned by Nigerians in the UK ? ??

A very good question
do u know that as a Nigerian citizen irrespective of your place of resident or the location of your property be it landed property or business u ought to pay??
in the case of houses in other countries u pay property income tax which is to be remitted to Federal Inland revenue Service

am ready to entertain any question!!!!

400billionman:


Reforms that are making the poor poorer and the rich richer.

What is FG doing to bridge the income gap?

Many adults today who don't have paid employment don't make up to N500 in a day?

How many lower or middle class Nigerians have fared better under APC if not news of burning farms, herdsmen killings, loss of jobs, shutdown of businesses.?

Even if you are not an economist or businessman, learn to feel the pulse of the masses.

Sentimental issues do not match Economic fundamentals. Despite the herdsmen/farmers clashes, agriculture is still growing, more people are entering it, more investments more output.

The government has been trying to help the poor. Arreas of promotion allowances not incurred by this government are being paid, pensioners are getting paid better all in a bid to cushion hardship.

The biggest area that this government is perhaps going to impact Nigeria for good is economic diversification and taxation. These 2 areas will increase government revenue, boost infrastructure spending and lift millions out of poverty. These works are ongoing and only an unenlightened person will imagine a broken economy mismanaged for decades will be fixed in 2 years.

rhymesnoni:


A very good question
do u know that as a Nigerian citizen irrespective of your place of resident or the location of your property be it landed property or business u ought to pay??
in the case of houses in other countries u pay property income tax which is to be remitted to Federal Inland revenue Service

am ready to entertain any question!!!!

Pay what?you said property income . If you do not get income on property how does that work
Besides you only pay taxes where u r domiciled hence the word *Tax heaven *exist .
In the UK if my house is not being lived in ie empty , I do not pay council tax

erico2k2:

Pay what?you said property income . If you do not get income on property how does that work
Besides you only pay taxes where u r domiciled hence the word *Tax heaven *exist .
In the UK if my house is not being lived in ie empty , I do not pay council tax

property Tax is only applicable to properties that are either leas-out or are for commercial purposes!!!!!!!
Bt nt applicable to houses without occupants, i'e empty Houses, except of course in a situation where the house is sold,u would pay Capital Gains Tax to Nigerian Government

rhymesnoni:

property Tax is only applicable to properties that are either leas-out or are for commercial purposes!!!!!!!
Bt nt applicable to houses without occupants, i'e empty Houses, except of course in a situation where the house is sold,u would pay Capital Gains Tax to Nigerian Government

I think you are quoting from things you are reading which you are failing to understand . You first answer says something entirely different from what you are now saying . You said any property even landed property .

maclatunji:


Sentimental issues do not match Economic fundamentals. Despite the herdsmen/farmers clashes, agriculture is still growing, more people are entering it, more investments more output.

The government has been trying to help the poor. Arreas of promotion allowances not incurred by this government are being paid, pensioners are getting paid better all in a bid to cushion hardship.

The biggest area that this government is perhaps going to impact Nigeria for good is economic diversification and taxation. These 2 areas will increase government revenue, boost infrastructure spending and lift millions out of poverty. These works are ongoing and only an unenlightened person will imagine a broken economy mismanaged for decades will be fixed in 2 years.

The civil servants to this end hold the golden key . They are or rather some of them are the true enemies of Nigeria .

rhymesnoni:


U don't seem to understand how VAIDS work!!! let me briefly enlighten you
First and famous VAIDS means Voluntary Assets and Income Declaration scheme
It is an initiative by the Federal ministry of finance in Collaboration with FIRS Federal Inland Revenue Service, SIRB, State Internal revenue boards as well as Joint Tax force

VAIDS as a scheme is as a result of fall in the general price of crude oil, and as a typical Nigerian u ought to have known the level at which Nigeria depends on crude, so in other to boost the revenue generation of the federal government and reduce dependence on crude, the government decided VAIDS is the alternative. given the success rate at which VAIDS has achieved in other countries like Ghana, India, to mention but a few

VAIDS, as a scheme has window period during which u are expected to voluntarily declare your assets which started from June 2017 and is due to elapse by 31st May 2018

what this means is that when u declare your assets within this window period, there would be neither Interest nor penalty for the lengthy years u have have defaulted or not been paying tax, but rather you would pay for just 6 months u owed with zero interest, but after the window period which is due by 31st may 2018 u would pay all the lengthy years u have been owing even if is it 50 years of tax default plus Interests!!

These is the reason the Federal Government decided to train Community Tax liaison officers CTLO'S to work with their Various States Internal Revenue boards, in each and every state of the country to create awareness on VAIDS.

Note. VAIDS is not just for the rich alone but each and every citizen of the country, irrespective of weather you have assets or not, within or outside the country. Declare all your assets and pay due Taxes. 31st is just a month plus declare your assets to avoid penalties


MOHAMMED BALA ABDULLAHI
Niger State CTLO

Oga CTLO, you tried but made some fundamental mistakes. Firstly, you are to declare for 6 years and not not 6 months. Secondly, Ghana never introduced VAIDS, just that Ghana has a better Tax-to-GDP ratio put at about 14% as against Nigeria's 6%.
Thirdly, if you declare between July 2017-December 31st 2017,you would pay no interest and no penalty but if you declare in 2018 on or before March 31st (not May 31st), you will pay interest but not penalty. If you failed to declare on or before March 31st, 2018, then you are considered tax evader and liable to tax audit, prosecution, interest and penalty.

at seun...I think there are people who are spamming....You should do something about it....I get people quoting my username mostly on this business side. An example is the user just above me here..

Stop sending me this rubbish.

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