The South cannot be feeding the North. All they do is breed terrorism and vote for useless leaders. We have to go our separate ways. Enough is enough.

VAT should be 20%

Numerouno94:

Can u compare Ghanas economy to dat of Nigeria?
Comparing Nigeria to a country dat her citizens re enjoying all d basic necessities. All d workers re paid their salaries as at wen due. Unlike Nigeria where most state Governors dnt pay salaries. Abeg i no fit shout.

I can compare Ghanas economy to that Of Nigeria bro.

Nigeria gdp per capita income is $ 2 ,222 while that of Ghana is $ 2,223.

Pls state the basic necessities that Ghanians enjoy. I'm curious ?


Civil servants don't comprise most of our labor force so the point that you made about governors not paying salaries is moot.

Buhari commited to moving Nigerians from one level of hardship to the next level of hardship..he promised next level....but he meant next level hardship and poverty...but they voted him in again to do this..what a useless country!!
Now things will go up by at least 20%..

Blackfriday:
whose annual turnover is less than 25m abi? Cos am sure if walk into a qsr with over 25m annual income, your meal receipt will come at 7.5 VAT

What exactly are you saying? What does annual turnover have to do with VAT?

If your turnover is less than 25m per annum then you are exempt from Company Income Tax, not VAT! Then I don't understand what the meal receipt has to do with this?

Please clarify.

prince3009:


VAT means value added tax which is imposed on the sales of goods and services.

Your president has increased it to 7.5% so this means that a bag of pure water which is currently sold for N100 will probably be sold for N150 - N170, a bag of rice may go for N28,000 to N30, 000 from the current N23, 000, even network providers of Telecom services will increase their tariffs etc.

Thank you very much

So far the north are together with us in this act, I won't complain
Let the fittest survive

patani:
This is very commendable.. 7,5percent VAT is like ome of the least in Africa.. Then exemptiom of SME from paying tax is very commendable

Up until your post, I only got to read silly rants of properly uneducated fellows, that I wondered if I had started lacking comprehension.

I don't know about Nigeria's VAT of 7.5% being one of the least in Africa, but would have loved to be availed what items are covered. But the part I loved was exempting companies with annual turnover less than #25m from paying company income tax. Another one that gets my thumbs up is the PSC profits. Makes sense to me!

segzysexy:
The minimum wages of the mentioned countries is more than thrice higher than ours besides they set enabling working environment for businesses. So I see no reason why Nigerians envy them. Our government needs to put things in place well before imposing high tax on citizens. Cost of products are getting higher while unemployment and poverty rate is also getting higher. Where and how do you want Nigerians to cope?
FYI don't compare those mentioned countries economically to our country.

I know statements like yours will come up.. Dont think everything in those countries i mentioned are better than Nigeria... One thing I know is that things are extremely cheaper in Nigeria than any if those countries. Including food n housing.. For instance, if u earn 90k in SA, you will sleep under bridge or live in shark.. If you earn 650k in some US cities, ucant afford to rent a house

LabDNA:


Does SA and Namibia make the staggering billions you make in oil?

Does US and Canada, have looters who are bent on looting the country to death?

Wats your point.. SA makes billions of dollars from Gold and Tourism

Namibia is 2.5million population, they make huge amount of money from fish, Uranium and Diamond as well as tourism.. The Kalahari desert can be mistaken for Dubai deserts... So fermans and other european tourist troup to Namibia for sun amd holidays.. So wats your point?

Good luck to Nigeria economy, Govt ready to take what they can’t give. Una do good. Baba do good oo

youngsahito:
let the hardship begins

Begins or continue.

Sprumbaba:


No VAT in the US. Stop lying.

Its called Sales Tax but administered by each state which is different from what is in Nigeria because it's administered by Fedral gov in Nig... Above all they are all percentage charged on a sale that will eventually be remited to government irrespective of which government

urahara:



Before they start saying that standard of living is good in this countries thats why they can pay large v.a.t. , Rwanda , Togo, Benin , Niger have vat rates of 18 percent.


Ghana is 12.5 percent.

As in... Out individual reasoning is doing a large chunk of damage to nigerian state apart from what politicians are doing

On top #2500 minimum wage increase. Lol. Interesting

tommykiwi:
Zombies una Mr Integrity is at it again....

The year just started and Mr Integrity continues to fulfill his election promises.

1. One Dollar = One Naira
2. A bag of Rice from #7500 to #23000
3. Free transport services
4. 24hrs Darkness of light.

U forgot to add

"The Federal Government also raised the threshold from which stamp duty will be charged for online transactions from the current N1,000 to N10,000."

patani:


I know statements like yours will come up.. Dont think everything in those countries i mentioned are better than Nigeria... One thing I know is that things are extremely cheaper in Nigeria than any if those countries. Including food n housing.. For instance, if u earn 90k in SA, you will sleep under bridge or live in shark.. If you earn 650k in some US cities, ucant afford to rent a house

So ur point is that d govt is trying to ensure that d average income wouldn't be able to afford a decent accommodation

patani:


Yes... Nigerians envy other countries who pay VAT but cant pay 7.5 percent

FYI, VAT in SA is 15 percent
Canada os 18 percent
USA is 17 percent
Namibia 15 percent

Same way our govt envies these countries were higher VATs are paid but don't envy d commitment of these govts in properly using d proceeds of d VAT

Where are the Sai baba folks.

lexy2014:


U forgot to add

"The Federal Government also raised the threshold from which stamp duty will be charged for online transactions from the current N1,000 to N10,000."

mehn... This is the part I am most upset about

Cotton:


What exactly are you saying? What does annual turnover have to do with VAT?

If your turnover is less than 25m per annum then you are exempt from Company Income Tax, not VAT! Then I don't understand what the meal receipt has to do with this?

Please clarify.

You re wrong. The Finance bill also contains provisions exempting companies with annual turnover of less than N25million from paying or filing VAT returns.

GamalNasser:
Most useless President ever ..you will still not see a thing he will do with this money

Why do you want to see what he is doing with his money?

youngsahito:
let the hardship continues

in your life abi?

this the price to be paid when the people choose to elect a useless government, things are going from bad to worst and the government does not care. no good road, no electricity, no water, no good hospital, no work, no good house, no good environment, air pollution everywhere, no security of life and properties still you people are still increasing VAT. God will judge all of you

OgogoroFreak:
Why do you want to see what he is doing with his money?

Pls read what his comment again and compare it with your own

patani:


I know statements like yours will come up.. Dont think everything in those countries i mentioned are better than Nigeria... One thing I know is that things are extremely cheaper in Nigeria than any if those countries. Including food n housing.. For instance, if u earn 90k in SA, you will sleep under bridge or live in shark.. If you earn 650k in some US cities, ucant afford to rent a house

we all know those tax collected in the aforementioned countries are channelled for the development of the their economy and also repatriated back to the system for the benefit of the less priviledged. In this country no one knows where all the tax payer funds are diverted into.
Lets call a spade a spade our government has failed us.

lexy2014:


Pls read what his comment again and compare it with your own

If someone loots money, it becomes his money.

OgogoroFreak:
If someone loots money, it becomes his money.

Now are u saying that buhari has looted money?

lexy2014:


Now are u saying that buhari has looted money?

Yes nau. Why else is he not doing anything? You think he is saving the money for me and you?

OgogoroFreak:
Yes nau. Why else is he not doing anything? You think he is saving the money for me and you?

That is a knock out punch on buharis so called integrity

patani:


Yes... Nigerians envy other countries who pay VAT but cant pay 7.5 percent

FYI, VAT in SA is 15 percent
Canada os 18 percent
USA is 17 percent
Namibia 15 percent

Can u compare the living standard in those countries with ours?