i still do not understand simple english. this is atiku's personal income tax earnings in the last 3years, its doesnt in anyway dispute him from being a billionaire. for example, Warren buffet is a billionare with assets above $50billion bt his take home per month is $100,000. please lets us remove sentiments and think ahead

GoodGovernance:


You too lack understanding of how business works.

Yes there is difference between company money and personal money.

Also there is difference between company expenses and personal expenses.So any personal expenses included in company expenses,is fraudulent and criminal if not removed for tax purpose.

If Your company gives you bonuses,salaries,travel expenses(not related to business transactions) ,et al,you must disclose it as part of your personal income for tax purpose.

It is criminal for personal expenses(e.g political expenses,personal travels,feeding,purchase and maintenance of private jets,etc) to be included as part of company expenses.All these should be added back as part of the personal benefits/income of the business owner.

All personal benefits of a business owner,derived from his business must be disclosed and taxed.


Only business related expenses are allowed by the tax law.

You're very ignorant about how big corporate businesses work. In fact you're so ignorant that I will not bother educating you. You can continue wallowing in your ignorance.

Mark Zuck earns $1/annum. Facebook takes care of all his expenses. In 2011, he got $783,529 from Facebook just for expenses like travels, security. Facebook owns a private jet which mark uses to travel round the world, and so many other perks that come with owning a successful company.

I have a tech company that takes care of all my major expenses like rent, travels and cars. I earn zero salary, only bonuses. And guess what? Everything is reported in our book, and there's nothing shady about it. It's standard business practice. Businesses are allowed to take care of their employees however they see fit. That's why big companies can afford to buy official cars for employees, send them abroad for vacations and trainings, pay their rents, etc.

I said I wasn't going to school your partisan a*ss, but I just couldn't resist.
Can you please read?

*modified*
I just went back to see your posts (something I rarely do) and noticed you're one of those zombies they talk about on Nairaland. No wonder you chose to be ignorant. You will not get anymore response from me.

PapalsBull:


Why can't the military release Buhari credentials?

because they dont have it

Ovamboland:


These are some of the reasons Nigeria can only raise 9 trillion naira from it's 180 million people while ordinary Ghana can raise 5 trillion from it's 28 million people as annual budget.
Yet we expect Nigeria to have police like America, high speed train like Japan, stable light like all first world countries, best education in the world.

Hello, Ghana spends 41,000 on each student a year, while Nigeria spends 5k a year, yet we expect our students to best ghanian students all the time. USA population 300+ million spend $700 billion on primary and secondary education, while our total budget is not up to $30 billion out of which less than 10% goes to education, and we expect to match them

Are we reasonable people? Far from it, see the way many are hailing those successfully gaming the system and pocketing their own fair share of resources meant for running the country so there's a chance of taking care of the weak and poor as obtains in the first republic?

For us to invest like Ghana our budget must be at least 33 trillion but next year all we can find is less than 9 trillion, yet some are elated the difference is in the pocket of the Atikus, his military-billionaire backers, the 7000 billionaires who have never paid tax and millions of people who have never contributed a dime but want everything done at once for them.

Trust me, even in America, people avoid tax - LEGALLY. It has nothing to do with patriotism, or gaming the system - its simply wealth management. Even Apple has $252 billion parked outside the USA using transfer pricing and offshore tax havens. Let's look at this logically, I go out on a limb to take risks in business. After facing all manners of risks and difficulties, my company pays a substantial tax on it's earning, and if I take a significant chunk of those earnings as dividends, I get taxed a second time under personal income tax. It makes little sense to sit still, when there are perfectly legal avenues to reduce my tax liabilities. How is what I have described different from reducing your personal tax burden by buying life insurance, or increasing your voluntary contributions to your pension funds? How is it different from companies deliberately taking loans to reduce their tax burdens?

Praktikals:

Is tax avoidance a good thing. Why are you trying hard to justify aticrook?

he's a businessman and it's corporate business. How about the saint that has 150 cows and yet afford to buy a 15ml form.

ofwest47:
Athieveku the most corrupt man in Nigeria. Let's go back to history. Here was a man just an ordinary custom officer before 1999: but because of the high corruption in the customs he was able to sponsor himself to win for himself the governorship of Adamawa and not only that, left the governorship seat of Adamawa to become the country's vice president for having being one of the major sponsor of Obasanjo's presidential campaign victory. Remember Athieveku just resigned as a custom officer to go into politics.
Here is a man having being removed as vice president further became multi billionaires Immediately after leaving office he became the owner one of the most expensive private University in the country " American University Adamawa with not less than 95% of the lecturers being from America.
Here is a case of a man who when the former American President Bill Clinton who was just leaving office after his two terms looking for a bank loan to buy a house jusbuy t the same time Athieveku paid $2.5million dollars to buy a new building at Potomac, Maryland just a little distance from Washington DC, see newspaper report. What about his multi million dollar building in Dubai built on water like the Dubai hotel the tallest in the world but built on water.
Not too long ago one of his wives took a prophet to court for duping her of N918 million Naira over one prophecy or the other and some other business activties when she was second lady to Obasanjo's Ist lady during the vice presidency of his husband in Obasanjo/ Athieveku administration. The case is still on going, and for someone to be duped of the near N1 billion Naira must be worth more than N10 billion Naira. There are still more billions upon billions of looting money associated to him and any attempt to bring him and his Looters Party ( a k a P D P) back to governess will kill the county further.

ssint Buhari wife arrested her adc for dupping her of #2.5bn. Her only business na spa

bamidelee:
ori e ti daaru why insulting his father

Alaye rada rada

Olumeme:

Alaye rada rada

baba e ni moje

Bagehot:


Trust me, even in America, people avoid tax - LEGALLY. It has nothing to do with patriotism, or gaming the system - its simply wealth management. Even Apple has $252 billion parked outside the USA using transfer pricing and offshore tax havens. Let's look at this logically, I go out on a limb to take risks in business. After facing all manners of risks and difficulties, my company pays a substantial tax on it's earning, and if I take a significant chunk of those earnings as dividends, I get taxed a second time under personal income tax. It makes little sense to sit still, when there are perfectly legal avenues to reduce my tax liabilities. How is what I have described different from reducing your personal tax burden by buying life insurance, or increasing your voluntary contributions to your pension funds? How is it different from companies deliberately taking loans to reduce their tax burdens?

You are very correct my brother. There are loopholes in the tax system that one can exploit legally but underdeclaring taxable income is not one of them. Like I said earlier, nobody can determine whether he had legally exploited the law or otherwise but one very valid means of verifying the authenticity of income delared is by looking at the lifestyle of the individual in question. To me personally, it appears that there is a huge gap between his lifestyle and the personal income delared. Notwithstanding, mere suspicion is not a good ground to determine whether he underdeclared or not. The Adamawa State IRS or wherever the law stipulates he pays his tax (e.g. based on residency rule) may need to be more proactive to shore up the State's IGR. I expected them to get more tax from Atiku.

Gorem2013:
Another evidence Atiku is a packaged fraud

What happened to income from private university

What about income from Intel and other companies claimed to have employed 50,000 employees

So the so called business man who is coming to turn Nigeria to Dubai cannot even manage company with 50,000 employees to good profit but want to manage Nigeria with her 190m population.

Consider this;

60m in 3 years yet able to share $5k per delegate @ PDP conversation in PH that's $2m already for 4,000 delegates

Unspecified dollar for Kukah, Oyedelo, Gunni to beg Obasanjo. For Obj to agree a million dollar donated.

(Remember no more payment of salary of obj farm employees through FG and more than 50%of farm already closed permanently. The recent was the one in Ibadan sealed by OYO state. So Obj need every donation, even from crooks, not minding whether God will forgive him or not)

Then consider million already spent on social media and brown envelope mainstream media rightly tagged 'enemy of the people' by Trump. When you hear Atiku won a poll on tweeter, it means $100k shared to about 10k social media miscreants and hungry bloggers of Ipob extraction.

The summary, Atiku is incompetent, a failure in business and a packaged fraud meant to destroy and loot Nigeria.

Savage.

........
P34c3
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...

BIAFRONIGERIAN:



Ogbeni you think most of these billionaires earn liquidly They earn and invest and don't keep much cash. Instead they borrow ( yes, they borrow cash)
Its only a poor man that saves liquid cash which can crash at anytime

EARN --that is the key word --YOU ARE TAXED ON WHAT YOU EARN.

when they borrow ---they borrow money to earn money. you cannot borrow money to buy an asset that does not yield an income.

Now you might say 'but it is the company that borrowed the money' --as a director he is earning a salary and also being paid dividends. The bottom line is, he grossly under declared his earning

Misterdhee1:

Are public civil servants legally allowed to run private businesses aside civil service (with the exception of farming)? Some of you are obviously too shallow to even understand the major laws guiding your country. Dumbo

. No need for the insult, your man retired since 1984, meaning he has been a private citizen since then, apart from the ptf chairman stuff, why are APC and Buhari supporters so aggressive when hit with facts. Good bye

Warren Gates,
One of the richest men on earth pays less tax than his secretary, why?
https://money.cnn.com/2013/03/04/news/economy/buffett-secretary-taxes/index.html

People who do not understand these issues should keep their mouths shut

All this jobless youth that are shouting Atikulating were once shouting Bubu before 2015......zombies will never learn their lesson. Odensins.

Sometimes we criticize without understanding what we read, atiku said his personal earning in 3 years was 60 million he never said his company earn 60 million in three year a simple maths shows that there are 36 months in 3 year
That is 60,00000÷36= #1.6 million
Per month as his personal take home monthly