The Managing Director of Jumia's hotel and flight services, Omolara Adagunodo has urged the Federal Government of Nigeria to grant tax breaks to businesses in the hospitality industry.

Adagunodo who stated this in a press statement hinged the call on the fact that the hospitality industry will contribute more than it is currently to Nigeria's Gross Domestic Product (GDP) and the economy if it is granted tax breaks.

Recall in 2017 the federal government released a list of 27 companies to enjoy the Federal Government tax break under pioneer status and the hospitality sector was missing.

Adagunodo, therefore, encouraged the federal government to include the hospitality sector in the pioneer status so that the sector can also enjoy its many benefits.

The hospitality sub-sector is currently faced with an avalanche of taxes: Registration of Hospitality Premises, Stamp Duty, Nigerian Social Insurance Trust Fund (NSIT), Industrial Training Fund [ITF] National Pension Commission (PENCOM), Nigerian Tourism Development Corporation (NTDC), Value Added Tax (VAT), Pay As You Earn (PAYE), Company Income Tax, Withholding Tax, Liquor License, Food Handlers and Health Certificate among others.

"The travel and Tourism sector accounted for 1.9% of total GDP as a direct contribution, and 5.1% as a total contribution to GDP in 2017. In monetary terms, Travel and Tourism contributed N2.298 billion to the GDP as a direct contribution and N6.205 billion as a total contribution to the GDP.

"For jobs, the sector directly generated 1.2 million jobs, that’s 1.8% of total employment (and, it’s expected to rise by 4.7% in 2018 to 1.276 million). Whereas total jobs created - both direct and indirect was 3.3 million, that’s 4.8% of total employment, " Adagunodo added.

“This percentage GDP contribution will significantly increase as these businesses will invest the money on boosting service delivery and overall improvement in the quality of business,” she said.

https://www.tribuneonlineng.com/189332/

Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

Recall in 2017 the federal government released a list of 27 companies to enjoy the Federal Government tax break under pioneer status and the hospitality sector was missing.
Adagunodo, therefore, encouraged the federal government to include the hospitality sector in the pioneer status so that the sector can also enjoy its many benefits.

There is nothing out of place in you wanting something good for your sector ( The Managing Director of Jumia's hotel and flight services, Omolara Adagunodo), but gradually and at the right time, the FG will get there.
Slow and steady we are going to a better Nigeria.
To the NEXT LEVEL we go, AKA, a land flowing with milk and honey.

Government is looking for more ways to milk Nigerian businesses to the last drop through heavy taxation and you are begging to evade tax. Kolewerk! APC needs to recover all amount spent during campign

dominique:
Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

Smh!

davodyguy:

I believe you should be more enlightened than this. No nation survive without good tax system. Hotel and consumption tax are part of areas where government make money. Google how much they now charge in Dubai(UAE) New Zealand and other developed country

In very developed nation, Government place taxes on EVERYTHING, as in EVERYTHING, apart from food.
You can't go to the store and see a price tag on something for (example #1000) and expect to pay exactly #1000 for the stuff, you have to pay tax on it.
But people that are not enlightened will never know that!
And that is for the citizen, not even the big companies
Good to know we still have enlightened youths on this forum.
You've said it all bro.
God bless you.
Oan.....

Z

Okay

Okay

post=75578757:

Smh!

Oan.....

Wait, did NUT actually ask them to scrap Npower?

hmmm

MrMcJay:


Wait, did NUT actually ask them to scrap Npower?

Confirm, they did!

No way. Those hotelier makes billions in profit annually. Has anyone ever wondered that despite the so called 'hardships' hotels keep springing up? Because the business is thriving well. We have more hotels now under Buhari than we have 4 years ago.
Someone told me that on Friday nights, almost all hotels in Benin City Edo state are fully booked, by perverts, business men/women are leisure lovers

dominique:
Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

But if Atiku wishes to send it to USA for his private university, it is ok.

Some of you don't even know why your life is the way it is.

May it continue to be that way forever and ever ...Amen.

dominique:
Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

I believe you should be more enlightened than this. No nation survive without good tax system. Hotel and consumption tax are part of areas where government make money. Google how much they now charge in Dubai(UAE) New Zealand and other developed country.

Get educated. Taxing hotel and leisure houses like clubs, lounges is a good way of making money by government around the world and not milking anyone

gbaskiboy:
Government is looking for more ways to milk Nigerian businesses to the last drop through heavy taxation and you are begging to evade tax. Kolewerk! APC needs to recover all amount spent during campign

Chai

This is really pathetic and show your very poor understanding of issues

post=75578865:

Confirm, they did!

That's very sad.

No wonder they have the highest number of Ghost workers

MrMcJay:


That's very sad.

No wonder they have the highest number of Ghost workers

You can say that again.Mr Jay!

davodyguy:

I believe you should be more enlightened than this. No nation survive without good tax system. Hotel and consumption tax are part of areas where government make money. Google how much they now charge in Dubai(UAE) New Zealand and other developed country.

Get educated. Taxing hotel and leisure houses like clubs, lounges is a good way of making money by government around the world and not milking anyone

I like the example countries you mentioned as indeed the taxes in these countries are healthy. But have you also looked at the energy bills of businesses in these countries? U want businesses to pay a huge energy bill and pay a huge tax bill?

post=75578757:

Smh!

In very developed nation, Government place taxes on EVERYTHING, as in EVERYTHING, apart from food.
You can't go to the store and see a price tag on something for (example #1000) and expect to pay exactly #1000 for the stuff, you have to pay tax on it.
But people that are not enlightened will never know that!
And that is for the citizen, not even the big companies
Good to know we still have enlightened youths on this forum.
You've said it all bro.
God bless you.
Oan.....

That's why when I read comments on Nairaland, which is dominated by under 40s I sometimes feel so sad for this country. Leaders of tomorrow ko, leaders of yesterday ni. Many of them know next to nothing and just spew gibberish when it comes to national issues.

Imagine People blaming Buhari for the performance of DISCOs (Ikeja Electric, BEDC) etc that Buhari's government should have sold the companies to the owners because they're incompetent. I looked at the comments and SMH.

Jonathan privatized the power sector on November 1, 2013 and sold the GENCOs and DISCOs to their friends who have no idea of how to run the business. Imagine that the Almighty Barth Nnaji owns a power plant in Osisioma in Abia State called Geometric Power Plant. It could not function, until Fashola came and resolved a matter that started under GEJ.

Its ignorance that's killing Nigeria and nothing more. We have too many silly people making comments on issues they know nothing about

airsaylongcon:


I like the example countries you mentioned as indeed the taxes in these countries are healthy. But have you also looked at the energy bills of businesses in these countries? U want businesses to pay a huge energy bill and pay a huge tax bill?

Yes I have. Nigeria has one of the cheapest cost per kilowatt for power in the whole world.

Always get your fact right before commenting. Were now on about N21 per kilowatt

dominique:
Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

Jumia is going through a particularly rough business period. It started with Konga, then spread to Dealdey and now Jumia.

I suspect they are looking for a fall guy if the chips eventually go down and taxation is the fall guy. Ask the founders of Rocket Internet the owners of Jumia if they don't pay taxes in their own countries and see how they'll shut up promptly.

Business hasn't been too good for Jumia these days and two factors are responsible: instagram entrepreneurs and cheaper prices on jiji.

davodyguy:

Yes I have. Nigeria has one of the cheapest cost per kilowatt for power in the whole world.

Always get your fact right before commenting. Were now on about N21 per kilowatt

I agree. How many of these clubs and hotels run on NEPA? U will be rocking in the club and power will go? Or u will be having a show at Eko Hotel Conference Centre and expect it to be on NEPA?

davodyguy:

I believe you should be more enlightened than this. No nation survive without good tax system. Hotel and consumption tax are part of areas where government make money. Google how much they now charge in Dubai(UAE) New Zealand and other developed country.

Get educated. Taxing hotel and leisure houses like clubs, lounges is a good way of making money by government around the world and not milking anyone

You are the one who needs enlightenment.

You should not compare a developing economy like Nigeria in search of investment esp FDI with developed economies like UAE whose tourism industry is heavily supported by the oil wealth of the government there seeking diversification.

The lady has a valid point. Consumption of luxury goods should be taxed but businesses that create jobs that the government is unable to do should be given all the incentives to do so! The government for example can give them a tax break for every 10 persons employed! Even in the developed countries you make mention of, there are certain tax incentives available to businesses so Bros open your mind and your eyes please.

Multiple taxation is still a major issue to businesses in this country and this along with the effeciency in tax collection should be the major focus of our government

rusher14:


But if Atiku wishes to send it to USA for his private university, it is ok.

Some of you don't even know why your life is the way it is.

May it continue to be that way forever and ever ...Amen.

Fulani boy, is your own life any way better??

davodyguy:

That's why when I read comments on Nairaland, which is dominated by under 40s I sometimes feel so sad for this country. Leaders of tomorrow ko, leaders of yesterday ni. Many of them know next to nothing and just spew gibberish when it comes to national issues.

Imagine People blaming Buhari for the performance of DISCOs (Ikeja Electric, BEDC) etc that Buhari's government should have sold the companies to the owners because they're incompetent. I looked at the comments and SMH.

Jonathan privatized the power sector on November 1, 2013 and sold the GENCOs and DISCOs to their friends who have no idea of how to run the business. Imagine that the Almighty Barth Nnaji owns a power plant in Osisioma in Abia State called Geometric Power Plant. It could not function, until Fashola came and resolved a matter that started under GEJ.

Its ignorance that's killing Nigeria and nothing more. We have too many silly people making comments on issues they know nothing about

We can't help but marvel when reading some comments here.
Few of them are actually enlightened, they are just willfully blinded and deaf by hatred for their President.
But the good thing in all these is that, those of us that believe in the present day government outnumber the charlatans.
Nigeria will be great.

sleeksavbvy:
The Managing Director of Jumia's hotel and flight services, Omolara Adagunodo has urged the Federal Government of Nigeria to grant tax breaks to businesses in the hospitality industry.

Adagunodo who stated this in a press statement hinged the call on the fact that the hospitality industry will contribute more than it is currently to Nigeria's Gross Domestic Product (GDP) and the economy if it is granted tax breaks.


The hospitality sub-sector is currently faced with an avalanche of taxes: Registration of Hospitality Premises, Stamp Duty, Nigerian Social Insurance Trust Fund (NSIT), Industrial Training Fund [ITF] National Pension Commission (PENCOM), Nigerian Tourism Development Corporation (NTDC), Value Added Tax (VAT), Pay As You Earn (PAYE), Company Income Tax, Withholding Tax, Liquor License, Food Handlers and Health Certificate among others.



"For jobs, the sector directly generated 1.2 million jobs, that’s 1.8% of total employment (and, it’s expected to rise by 4.7% in 2018 to 1.276 million). Whereas total jobs created - both direct and indirect was 3.3 million, that’s 4.8% of total employment, " Adagunodo added.

https://www.tribuneonlineng.com/189332/

This man should be arrested and sent to jail for lying.

I have a real estate company and below are mandatory obligations which not all are taxes


Stamp Duty (I pay stamp duty on every transaction and if not land or property transaction, nothing to pay)
Nigerian Social Insurance Trust Fund (NSIT) This is only 1% of monthly salary and I pay for myself and staff
Industrial Training Fund [ITF] I pay N100,000 per annum and its from this moth they pay IT students throughout the federation
National Pension Commission (PENCOM), This is pension and its your money to be paid back to you upon retirement
Value Added Tax (VAT) Everyone pays vat in Nigeria and we charge it extra on our fees. If my fee is N50,000, I'll simply add N2,500 to it as VAT. Its the customers that pay for it not you
Pay As You Earn (PAYE) This a tax paid by employees and it is paid to the state government. Everyone working pays tax
Company Income Tax All LTD companies pay tax to government
, Withholding Tax, This is also paid by the customers. You simply at WHT to your fee and customer pays for it

This man is talking trash. I'm not into hospitality business but I fulfill 80% of these obligations, likewise many other companies. I also pay tax to LGA annually

Businesses paying taxes without benefit from government




Everything is wrong in Nigeria.

obi58:


You are the one who needs enlightenment.

You should not compare a developing economy like Nigeria in search of investment esp FDI with developed economies like UAE whose tourism industry is heavily supported by the oil wealth of the government there seeking diversification.

The lady has a valid point. Consumption of luxury goods should be taxed but businesses that create jobs that the government is unable to do should be given all the incentives to do so! The government for example can give them a tax break for every 10 persons employed! Even in the developed countries you make mention of, there are certain tax incentives available to businesses so Bros open your mind and your eyes please.

Multiple taxation is still a major issue to businesses in this country and this along with the effeciency in tax collection should be the major focus of our government

Many of you need proper/thorough education about how stuff works

I made a post above clarifying what are taxes and what are obligations.

The man is simply talking trash, as the items he listed cuts across all sectors.

I'm an employer of Labour and more than 70% of what he listed are being paid by me annually and monthly.

Tell me how Pension is a Tax. He listed pension as a tax. He also talked about registration. Tell me how registration fee is a tax.
VAT and WHT are being paid by the customers, not the companies. This is how it works

Room rate is ₦20,000, but you're given a bill of ₦22,000. You then wonder how come, since they advertised ₦20,000. The hotelier has simply added taxes to you bill, there by transferring liabilities to the consumer. Hence, if anyone should get relief, it's the consumers, not the Jumia man.

Many of you here talk nonsense which is very unfortunate. Try setting up a business that involves dealing with multinationals and government agencies, they you'll know how stuff works

davodyguy:

That's why when I read comments on Nairaland, which is dominated by under 40s I sometimes feel so sad for this country. Leaders of tomorrow ko, leaders of yesterday ni. Many of them know next to nothing and just spew gibberish when it comes to national issues.

Imagine People blaming Buhari for the performance of DISCOs (Ikeja Electric, BEDC) etc that Buhari's government should have sold the companies to the owners because they're incompetent. I looked at the comments and SMH.

Jonathan privatized the power sector on November 1, 2013 and sold the GENCOs and DISCOs to their friends who have no idea of how to run the business. Imagine that the Almighty Barth Nnaji owns a power plant in Osisioma in Abia State called Geometric Power Plant. It could not function, until Fashola came and resolved a matter that started under GEJ.

Its ignorance that's killing Nigeria and nothing more. We have too many silly people making comments on issues they know nothing about

Sadly, they are often the first to comment, burying the nuggets of information under their refuse heap of ignorance.

They won't learn, and as the typical empty barrel they scream hollow.

post=75578757:

Smh!

In very developed nation, Government place taxes on EVERYTHING, as in EVERYTHING, apart from food.
You can't go to the store and see a price tag on something for (example #1000) and expect to pay exactly #1000 for the stuff, you have to pay tax on it.
But people that are not enlightened will never know that!
And that is for the citizen, not even the big companies
Good to know we still have enlightened youths on this forum.
You've said it all bro.
God bless you.
Oan.....

Zombie forgets there is a welfare system for the less well off in the society in those countries that is virtually non-existent here (don't even talk about the 5,000 naira Or N-power, that is providing fish, not teaching people how to fish). Don't let us also talk about the cost and standard of living too plus the minimum wage related to it.

dominique:
Kolewerk!
The government is busy looking for more ways to milk the masses dry, Osinbajo even suggested increasing VAT. Ain't no business getting any tax break anytime soon.

Even d CBN is urging the govt to fast track the implementation of the increase in VAT yet ppl want to vote this govt for anoda 4 years?
Hunger go wire everybody wella
Abi i lie madridguy, deji17, , seunmsg, sarrki, corrinthians n co zombies

post=75578757:

Smh!

In very developed nation, Government place taxes on EVERYTHING, as in EVERYTHING, apart from food.
You can't go to the store and see a price tag on something for (example #1000) and expect to pay exactly #1000 for the stuff, you have to pay tax on it.
But people that are not enlightened will never know that!
And that is for the citizen, not even the big companies
Good to know we still have enlightened youths on this forum.
You've said it all bro.
God bless you.
Oan.....

You are not enlightened my friend well not as much as you want to believe, there are loads of Tax brakes in the western world, this is how the control their economy, without tax brakes it is very difficult to get people to come to do business in your country
in the Uk there are UK creativity tax relief
there are more here http://www.greatbusiness.gov.uk/tax-relief-and-incentives-for-businesses-and-investors/