ChristianNorth:

Go back and read post you quoted.

Now, slowly.

Thank you

mrvitalis:

Im not ....if we must grow people must learn to pay tax

mrvitalis:

Im not ....if we must grow people must learn to pay tax

mployer:


It's not luxury tax.

It's policy implementation tax, aimed at encouraging cashless transactions.

People really need to stop moving bundles of cash around.

mfm04622:


I understood you perfectly and my response is on point! You post had 2 parts. In the first part, you supported the policy while in the second you condemned Govt's plan to collect VAT on online transactions. My response is to the second part of your post. My summary is this. The fact that you paid online for goods or services that is not VAT exempt does not lift VAT liability off you.

Femich18:
Tax on deposit? Wow!
This is really Pathetic.



Aim at encouraging cashless transactions? This Govt is not getting their policy right. same Government planning to impose extra VAT on online purchases. You discourage them in one and encourage it to another policy. Who does that?
That is confusing to me

Flier:
what do you sell? Because I am sure 97% of market women don’t make 2-3% on any product they sale
This government is just insensitive and stupid
Sometimes those market women make as little as #10 on #2500 naira carton of good and this is why they always run down if their husband isn’t supporting them financially

mrvitalis:
This is luxury tax no one should complain

It would affect me very much but i believe in taxing

pacespot:


OK, if it is to discourage cash transactions, so do these charges apply to amount deposited by cheque?

If someone issued you a cheque of 5 million naira, that means you would have to forgo about 5% of that to your banker before being deposited into your account.

mfm04622:


There is no charge on transactions worth 500k and below! So how does this concern the poor market women!

mployer:


Cheque is not cash. It won't apply to cheques.

Les:
to be honest, I don't have an issue with this current tax, but you see that VAT on online transactions? That sh!t hurts me to my marrows, what do we do?

booscy:
Cashless when the internet backbone that will power it is still acting WillieWillie, okay naaa.

Na eye we dey look for this contiri oooo, let them continue raping us.

I keep money for bank, money wey dem go still take do business, I go still pay bank for giving them my money to do business, Orait!!!!

One day they will wake up and meet empty contiri, everybody go don pack comot for night, maybe to Panya since South Africa dey kill us

banio:


You got me cracking. Which country be PANYA

mfm04622:


1. I am not blind. I am very knowledgeable about the financial industry. This services is not new! It has been existing for some years now. Banks have been holding the money and adding it to their profit! CBN is making statement about it because CBN supervises banks in the country
2. Online transaction were never exempted from VAT! Just that govt did not collect it. Now they want to collect it. What is wrong in that? VAT law already specified exempted items and services. It does not matter how you pay for the items and services that are not VAT exempt, you still need to pay tax!
3. Should we go to Benin and Cameroon to tax their citizens to raise revenue then? We all want good things but we want it for free! How is that possible? Lol!!!

nams77:

Then you are still blind sir. No offence and not an insult please. This government doesn't care about us. If you Expecting them to use these money to better our lots, then i am sorry for you sir
An altruistic government will not want to burden the already battered populace.
They will think of ingenious ways to raise funds. There are so many ways to raise funds but they wont see it. It is our money they will like to use.
How about cutting down on their allowances,estacodes and salaries.
How about cutting down on their convoys and PA and SAs and staffs.
How about being prudent?
How about using local cars like india.?
How about not using foreign hospitals and budgeting bogus sum for kitchen utensils eg 800 million naira for cuttleries and spoons.
How about stopping all these every four years change of cars and furnitures for government officials and senators.
How about cutting down on gas flaring and utilizing or selling them out?
How about creating enabling environment to encourage foreign direct investment?
My brother, i am also in the financial sectors so i know what i am saying.
There are creative ways to raise money, not killing your already impoverished populace.
Have a great day and dont take offence at my post sir

mfm04622:


No offense taken. Nigeria hold the record worldwide for the lowest tax to GDP ratio! Even countries at war have a better ratio! This only means we don't pay taxes. So i support the government in seeking to increase tax collections. Why i even support VAT is VAT is paid mostly by the rich! Basics necessities of life are VAT exempt. Also, this is not a tax. It is service charges. It will also be incident on the well to do! Yes, cost of governance is too high! Yes, Government should do more to reduce cost of governance. However, we should do our part too, then hold government to account .

mployer:


It's not luxury tax.

It's policy implementation tax, aimed at encouraging cashless transactions.

People really need to stop moving bundles of cash around.

orunmila144:
nigerians want to live like the west but dont want to pay tax like the west

stanech:
Nigerians To Start Paying For Bank Deposits In 2020
The charges will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts.

Starting from September 18, 2019, Nigerians operating bank accounts will begin to pay charges for deposits and withdrawals.

Making the announcement on Tuesday, the Central Bank of Nigeria said that the nationwide implementation of the cashless policy will begin by March 2020.

The apex bank said that implementation of the policy would signal the imposition of charges on deposits in addition to already existing charges on withdrawals.

According to the circular, the charges will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts.

For corporate accounts, the apex bank in the circular said that DMBs would charge five per cent processing fee for withdrawals and three per cent for lodgments of amounts above N3m.

The statement, however, disclosed that the charge on deposits would apply in Lagos, Ogun, Kano, Abia, Anambra, and Rivers states as well as the Federal Capital Territory.

http://saharareporters.com/2019/09/17/nigerians-start-paying-bank-deposits-2020

Femich18:
Tax on deposit? Wow!
This is really Pathetic.



Aim at encouraging cashless transactions? This Govt is not getting their policy right. same Government planning to impose extra VAT on online purchases. You discourage them in one and encourage it another policy. Who does that?
That is confusion to me

nams77:

Those countries with high taxes, do they provide basic amenities?
Nigerians are willing to psy higher for light but let there be steady supply.
You have too much faith in our government. They won't do anything good for the masses. I can almost bet my right kidney

LilSmith55:

As in, upon almost 200 country in this world.
Why Nigeria??

orunmila144:
you offend Olodumare and so sopona and babaluaye was unleashed on you