rusher14:


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.

This man (Jumia) is talking trash and lying.
Most if the things he said are false.

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.....

Tax break here doesn't necessary mean that you don't task goods coming into the country or citizens working rather tax break here simply means excluding some newly created business entities or some foreign businesses that are not flourishing as it is suppose to from paying tax for some years, by so doing you encourage new entrants into the business circle. This is what is obtainable in most part of Europe.

davodyguy:

This man (Jumia) is talking trash and lying.
Most if the things he said are false.

Jumia is complaining about VAT and consumption tax. It's not Jumia paying o, it is the consumers paying and Jumia is just to collect and remit.

It's such a damn shame this foolishness is coming from Jumia

davodyguy:

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

Oga stop blowing hot air out of your ass.

In your earlier post you post you opposed the application of the Jumia executive requesting for tax breaks for the hospitality industry on the grounds that this same sector is heavily taxed in developed countries to which I responded saying you don't develop a sector especially in a developing economy by increasing tax rates and multiple taxation! If anything tax incentives or tax breaks should be provided to encourage investment in the hospitality industry as it has the potential to be a major contributor to our GDP and a major employer of labour! Countries like Jamaica have their economy built around Tourism and hospitality and if Nigeria seeks to diversify successfully from oil, the focus now should be towards encouraging FDI and one of the major ways this can be done is through providing incentives for investment given the highly challenging business environment we find ourselves in.

Admitted many of the taxes he talked about are more of individual taxes but if you are truly an entrepreneur in this country I would expect you to admit the truth that Nigeria remains a highly challenging business environment fraught with multiple taxation and a highly inefficient tax collection system which is fraught with so many corruption opportunities. Tax collection officials saddled with the responsibility for tax collection often intimidate business owners with unfair and excessive bills with a view to negotiating for bribes and when such business owner decides to cooperate, not only do they sweep a good chunk of his tax payment under the carpet, they then help educate him on the loopholes within the tax system.

Today everyone talks about Lagos state and how it is light years ahead of most states but it was not until they got serious about tax collection to the extent of outsourcing same to a private agency did they unlock the huge revenue potential of the state which in turn has led to massive development within the state!

These are the things I spoke about briefly in my earlier riposte and If you are half the so called businessman you claim to be you should not be talking as if what I said is rocket science. So don't come here sounding so high handed as if you were the only one who went to school because it only makes you sound like an empty cymbal.

These are the unfortunate facts of our current tax system and I reiterate that the focus of the government should be towards eliminating multiple taxation of businesses and improving the efficiency of taz collection and tax collection agencies within the country. Let's leave politics out of this. You don't go out to buy a bigger basket to fetch water when you have refused to seal the holes through which the water is leaking out.

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MrMcJay:


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.

Doing business in Nigeria is not easy . Apart from provision of infrastructure which is lacking , they face multiplicity of taxation. The tax they pay gets up to ten from different groups ooo. Tax that govt is aware of. They also have to pay between 25% to 35% interest to access loans from bank. This is simply outrageous.
Govt should look into multiplicity of taxation and ease doing business in Nigeria.

obi58:


Oga stop blowing hot air out of your ass.

It's very possible you did a swap and then changed your head with your anus, if not you've wouldn't have posted the incoherent trash you have above. I said many of you have little or no understanding at all, but you make post online just to do 'notice me' and ending posting rubbish

obi58:

In your earlier post you post you opposed the application of the Jumia executive requesting for tax breaks for the hospitality industry on the grounds that this same sector is heavily taxed in developed countries to which I responded saying you don't develop a sector especially in a developing economy by increasing tax rates and multiple taxation!

This just reveals your poor comprehension skills. I'm saying and said that the hospitality business are not heavily taxed in comparison to advanced countries. Nigeria is not on same level as UAE, hence UAE even pay more.

Can you provide evidence of multiple taxation? The Jumia man made unfounded allegations, which I am challenging. You trying to be an advocate, I'm asking you to provide evidence of multiple taxation in the hospitality business.

obi58:


If anything tax incentives or tax breaks should be provided to encourage investment in the hospitality industry as it has the potential to be a major contributor to our GDP and a major employer of labour! Countries like Jamaica have their economy built around Tourism and hospitality and if Nigeria seeks to diversify successfully from oil, the focus now should be towards encouraging FDI and one of the major ways this can be done is through providing incentives for investment given the highly challenging business environment we find ourselves in.

By this post, it's obvious you're still in paid employment or have no idea of how the tax system works in Nigeria. Let me quickly educate you. Less than half of businesses and individual working class in Nigeria pay taxes, that's a fact. Nigeria is already losing billions due to tax avoidance and tax evasion. How many hotels pay taxes at the moment. I travel a lot and what I do sometimes is to engage the staff at some of these hotels to ask for their tax cards, many of them do not have, meaning they don't pay taxes. Similarly, most of the hotels are operating under Business names in terms of Incorporation, meaning they don't have any business with FIRS. It may also interest you to note that even the richest people in Nigeria are tax avoiders. The highest being paid by the richest man in Nigeria is less than ₦50million as tax annually, which is why Osinbajo, launched The Nigerian Voluntary Asset and Income Declaration Scheme (VAIDS)
The tax net is very under populated and you are asking for incentives for people who don't even pay at all. You need to educate yourself first about taxation in Nigeria. I mean practical situation, not what you read on the internet

obi58:


Admitted many of the taxes he talked about are more of individual taxes but if you are truly an entrepreneur in this country I would expect you to admit the truth that Nigeria remains a highly challenging business environment fraught with multiple taxation and a highly inefficient tax collection system which is fraught with so many corruption opportunities.

You keep exposing your ignorance. What's multiple taxation? Can you give an example of multiple taxation based on what the Jumia man claimed as taxes they are expected to pay? Secondly, most of what he mentioned are not even taxes at all, which shows his insincerity and people like you fell for it. Is Pension a tax?
Is contributions to NSITF and ITF taxes?
Is cost of registration a tax?
You need to educate yourself before you respond here.
The country is challenging just like every other climes too, but it's not only about taxes and the way the Jumia man claimed it to be or ridiculous.

obi58:


Tax collection officials saddled with the responsibility for tax collection often intimidate business owners with unfair and excessive bills with a view to negotiating for bribes and when such business owner decides to cooperate, not only do they sweep a good chunk of his tax payment under the carpet, they then help educate him on the loopholes within the tax system.

This is another lie on your part. I'm sure you're an employee and don't understand anything.

There are 3 arms that collect different taxes in a state
FIRS
LIRS
LG

FIRS uses Remmita, hence no avenue for fraud or cheating by the staff. If you're billed, you don't pay to anyone but to the agency through TSA.

LIRS too uses almost same system. My assessment as a business owner for P.I.T/ P.A.Y.E was sent to me from my Tax station and the agency code was stated. I paid through the code, then the one for my staff was also sent and paid via the code through Sterling Bank PLC. Where does intimidation come in? You're living in the past and have no idea of how stuff works. When you default, the government then use force on you as permitted under the law. They only come after you, when you've failed to pay

obi58:

Today everyone talks about Lagos state and how it is light years ahead of most states but it was not until they got serious about tax collection to the extent of outsourcing same to a private agency did they unlock the huge revenue potential of the state which in turn has led to massive development within the state!

So you admit the tax system is flawed and drastic measures needs to be applied. FYI, my company works as a consultant to LG, FG, State Government and private companies. Hence, I know what I am saying. Even with the drive by LASG, less than half of people earning income from work still apt taxes. Those who pay are tax avoiders. See how Ronaldo, Messi and Jose Mourinho were given prison sentences over tax fraud. The president of Bayern Munich was jailed for 2 years for same tax fraud. The system needs to work and tough actions must be taken to collect taxes

obi58:


These are the things I spoke about briefly in my earlier riposte and If you are half the so called businessman you claim to be you should not be talking as if what I said is rocket science. So don't come here sounding so high handed as if you were the only one who went to school because it only makes you sound like an empty cymbal.

You're simply saying rubbish, based on an uninformed position. You have no idea of the tax system, just commenting for sake of trying to show understanding. From all the Jumia man highlighted, showing me multiple tax there. Simple. As a business man and an employer of Labour in non related field, I pay more than 60% of the items he listed. You're not saying anything that makes sense

obi58:


These are the unfortunate facts of our current tax system and I reiterate that the focus of the government should be towards eliminating multiple taxation of businesses and improving the efficiency of taz collection and tax collection agencies within the country. Let's leave politics out of this. You don't go out to buy a bigger basket to fetch water when you have refused to seal the holes through which the water is leaking out.

1. Most Nigerians are either tax evaders or tax avoiders, hence not all those who earn income from source of living pay taxes.
2. Tax collection system needs to be improved upon, even though since the automation of the system, there have been lots of improvement.
3. Show me multiple taxation from what the Jumia man claimed as taxes they're expected to pay, since we're discussing his topic on this thread.

See below attachment to tell you how simplified the system is, nullifying some of your claims

mamatwiny:


Doing business in Nigeria is not easy . Apart from provision of infrastructure which is lacking , they face multiplicity of taxation. The tax they pay gets up to ten from different groups ooo. Tax that govt is aware of. They also have to pay between 25% to 35% interest to access loans from bank. This is simply outrageous.
Govt should look into multiplicity of taxation and ease doing business in Nigeria.

I love evidence, cos I'm a business man and tax payer. Tell me the multiple tax I'm paying so I can fight the government.