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Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG - Politics (2) - Nairaland

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Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by iamawara(m): 7:29pm On Nov 28, 2019
Tax tax tax.... When are they going to pay NPOWER beneficiaries? Npower Ogun keee u dere

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Jaqenhghar: 7:30pm On Nov 28, 2019
Yemisi5:
by the time Buhari is done with this country
even suya and dead barbecue sellers will be forced to eat their own dead meat

worst president since mankind
Hehehe
Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by drezzyx(m): 7:30pm On Nov 28, 2019
Awon weree!
Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Duggedised12(f): 7:31pm On Nov 28, 2019
Vision 2020 grin

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by shiki(m): 7:31pm On Nov 28, 2019
who score for Man-u
Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Angelfrost(m): 7:31pm On Nov 28, 2019
tot:
Nigerians are in trouble.

Charges, taxes, levies - left right and center. But corresponding development is non-existent.

Increasing hostile environment for business will send the few foreign businesses scampering for their economic lives to smarter and more accommodating countries, while raising red flags for those intending to come in to forego such dangerous intentions....

Consequence: job losses of unprecedented magnitudes, worsening of the already shameful poverty index, crime rate increase, till even patriots finally start toeing the path of revolution.

Not entirely Buhari's fault (PDP laid the ignoble foundation), but he should have admitted that this job was beyond him prior to last elections... This nation is looking seriously hopeless.

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by AroOkigbo(m): 7:33pm On Nov 28, 2019
0taPiaPia:
Leaving this arena is a must... angry
Nobody runs away. ..we die here
lol

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Angelfrost(m): 7:34pm On Nov 28, 2019
shiki:
who score for Man-u

Lingard.... This is the youngest team I have seen play a European competition, and they were pure class. There is hope for United.

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Topmaike007(m): 7:34pm On Nov 28, 2019
Okay
Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by tot(f): 7:37pm On Nov 28, 2019
Angelfrost:


Increasing hostile environment for business will send the few foreign businesses scampering for their economic lives to smarter and more accommodating countries, while raising red flags for those intending to come in to forego such dangerous intentions....

Consequence: job losses of unprecedented magnitudes, worsening of the already shameful poverty index, crime rate increase, till even patriots finally start toeing the path of revolution.

Not entirely Buhari's fault (PDP laid the ignoble foundation), but he should have admitted that this job was beyond him prior to last elections... This nation is looking seriously hopeless.

Most foreign businesses have exited already. Nigeria is a tough environment to do business in, coupled with the immense corruption at all levels including among citizens.

PDP = APC, so really makes no difference.

3 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by BilltheDON(m): 7:38pm On Nov 28, 2019
Next LEVEL

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by awa(m): 7:39pm On Nov 28, 2019
You won't see many of those Supporters here. No wahala I was never expecting much from the Administration

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by backnbeta(f): 7:39pm On Nov 28, 2019
I seriously imagine how the zombies are gnashing their teeth in their closets...a pain they can't share openly like the wailers grin

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by futurism: 7:40pm On Nov 28, 2019
olaridwan:
Seriously we really need to protest the way odas r doing, hong kong, yellow vest etc.. These people r really taking us as fool..
who Wan protest? Is it the Nigerians that have been programmed to leave everything to God? Or the one that thinks help will automatically fall on their laps?

3 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by 0taPiaPia(m): 7:42pm On Nov 28, 2019
AroOkigbo:

Nobody runs away. ..we die here
lol

grin

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by pacificom: 7:50pm On Nov 28, 2019
Ibegtodiffer:
Minimum wage, you have not started implementation, New Tax law proposal has not been passed by the national assembly, but the day of implementation is already known and has been announced. That is our own kind of democracy.

It amuse me whenever the federal government clamour for tax increase and it's enforcement. Yes ! It is right for citizens to pay tax in any civilized society. However, the philosophy of tax is that to whom much is given much is expected. Our labour force in Nigeria is one of the lowest in the world, amidst high unemployment situation. Our capital per head is lower compared to other developing countries such as india, South Africa etc. Federal government need to focus on creating jobs and empower citizens to achieve a marginal economy that justify taxation in the future. Otherwise, the ongoing campaign for taxation is a radical approach, and will only do more damages than good to the fragile economy that we have.

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by inspirator1(m): 7:54pm On Nov 28, 2019
God bless Buhari!
Anyone that wants to protest should do it on his own o, so that the punishment won't reach others. Shei we were called "wailers" when we criticised against this government. We must rock this boat till Bubu dies...
Sai Baba!
Sai Buhari.!!

3 Likes 1 Share

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by sentra05: 7:56pm On Nov 28, 2019
backnbeta:
I seriously imagine how the zombies are gnashing their teeth in their closets...a pain they can't share openly like the wailers grin


Lol.

I pity them. They have just put themselves in bondage and unfortunately the people who are the beneficiaries are not even aware of their existence sef.

The worst thing that can happen to somebody is suffering in silence. Chai, buhari knows how to f**k his online warriors.

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by taf4u4me(m): 7:56pm On Nov 28, 2019
nwakibie3:
The much-debated and anticipated new tax regime expected to fund the 2020 budget and restructure tax administration in Nigeria will take effect from the 2nd of January next year.

According to Punch, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in a panel session at the PwC Executive Session on Finance Bill and Tax Strategy, the bill would be revised yearly as the Federal Government is planning to grow the ratio of revenue to Gross Domestic Product (GDP) from 6% to 15% by 2023, with a greater percentage of revenue coming from non-oil sources.

The minister disclosed that the long-term goal of the bill is to stabilize the Nigerian economy, reducing the reliance of the foreign exchange earned from oil receipts. The government plans to engage stakeholders annually and ensure their opinions reflect on the outcome of the deliberations in the finance bill.

“One of the biggest challenges of all is our high dependence on oil for our economic activities, fiscal revenues and foreign exchange earnings. In 2016, Nigeria fell into recession due to its vulnerability to oil. Although the oil and gas sector accounted for just about 10% of the GDP, it represented 94% of export earnings and 62% of government revenues (federal and state) in 2011-2015,” Ahmed said.

However, Mrs Ahmed stated that the narrative is changing when it comes to the country’s reliance on oil receipts, even in the presence of high unemployment and poverty levels. The government stated that its desires are to see the country’s revenue to GDP ratio hit 15% by 2023 and tax to GDP ratio growth over 6% recorded in 2018.

“This narrative is changing but we still have much more to do to get to our desired revenue to GDP ratio of 15% by 2023, which we anticipate to come from non-oil revenues. We must grow our tax to GDP ratio from the current six per cent as of 2018.

“Tho the Nigerian economy is characterised by structural challenges that limit the country’s ability to sustain economic growth, create more jobs and achieve significant poverty reduction,” said Ahmed.

Mrs Ahmed stated that based on the non-oil revenue performance as of June 2019, the country was on track to further improve the tax to GDP ratio, although Nigeria is still below the sub-Saharan Africa average of about 19%.

Upshot:The bill is expected to stimulate growth in the Small and Medium Enterprise (SME) space, ultimately drive increased growth rate for the economy and ease business operations, alleviating the regulatory burdens for SMEs.

https://nairametrics.com/2019/11/28/finance-bill-new-tax-regime-to-take-effect-from-jan-2-fg/
Tax -Tax every corner... readdress Balance of payment mba...choose the best between fixed and flexible exchange rate mba... revenues are more generated through exportation of local products really? ....this country na error. confused set of people

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by pointstores(m): 7:57pm On Nov 28, 2019
Naww

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by bizhop01(m): 8:00pm On Nov 28, 2019
Vision 2020 grin

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by emonis88: 8:01pm On Nov 28, 2019
Sai Baba!! Sai Baba!! Sai Baba!! Na 4 x 4 all the way, Nigerians rejoice for your meissah has come!! Nigerians u wanted it n now u got it!! Rejoice for u meissah has come to take u to the land of death through suicides, hunger, hardships n many more, rejoice Nigerians! U wanted it n u got it!

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Nobody: 8:01pm On Nov 28, 2019
Ibegtodiffer:
Minimum wage, you have not started implementation, New Tax law proposal has not been passed by the national assembly, but the day of implementation is already known and has been announced. That is our own kind of democracy.
Nice comment.

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Germi9: 8:03pm On Nov 28, 2019
Bill upon bill,yet no jobs

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Pavarottii(m): 8:05pm On Nov 28, 2019
U guys av forgotten how they have made treasury bills useless now... Anybody there better sell of ur own and collect Ur money before the government will tell u they don't have your money to give to u...

He who has ears let him hear.
Even zombies saw the daylight robbery in kogi and still supported it... And u think u will survive?
I just pity bayelsans... Now Tinubu will be coming to Yenagoa to take coke with sylva and Lyon...all their money... The same way Nigerians are regretting buhari that's how they will regret Lyon... Den they will know that Dickson was a saint... As for kogi... Their suffering just doubled... He has already said he is not owing anybody, so now the fresh owing just about to start...

1 Like 1 Share

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by valarmorghulis: 8:07pm On Nov 28, 2019
Am very happy with this tax nonsense, next election, everyone will think before they cast their votes

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by voltron14: 8:08pm On Nov 28, 2019
All of you complaining about tax should suggest how government should generate money.
Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Pavarottii(m): 8:10pm On Nov 28, 2019
valarmorghulis:
Am very happy with this tax nonsense, next election, everyone will think before they cast their votes
Next election that they will rig... Or u think they want to give this inec chairman fresh tenure for nothing?

2 Likes

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by movid(m): 8:12pm On Nov 28, 2019
tot:
Nigerians are in trouble.

Charges, taxes, levies - left right and center. But corresponding development is non-existent.
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Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Ajibade123(m): 8:13pm On Nov 28, 2019
This government sha...only God can save us
anyway do you wish to study or work in Australia, Canada or US check my signature for more info

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Chidex50(m): 8:14pm On Nov 28, 2019
NAIJA MY COUNTRY I DEY HAIL OOOO!

1 Like

Re: Finance Bill: New Tax Regime To Take Effect From Jan 2 – FG by Kingin7777: 8:21pm On Nov 28, 2019
Do this ppl reason like humans at all, implement minimum wage since they can't buh is tax that is worrying them

1 Like

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