Powerintoxicate:
you are the one without an idea. For your information the VAT is an indirect form of tax. Infact on every bottle of coke or beer you buy you pay VAT. You don't have to see it on your receipt. The company collects the VAR which is included in the price or payment and then remits to the FG

yinchar:
Income Tax is different from Value Added Tax (VAT)

I’ll try to break it down, income tax is levied on your income such as salary. The current income tax in Nigeria is one of the lowest in the work, no country can survive at this lower income tax rate. For example, South Africa minimum income tax rate is 25% of your month salary, and like 40% minimum in UK. The country needs to increase the income tax.

The VAT is on anything you purchase in the country. Also one of the lowest in the world at 5/7.5%, this is too low for a country as big as ours that requires modern infrastructure.

sapele914:
T Go & meet your state Governor, 70% of VAT money goes to the States & Local Government.

neonly:
The thing dey pain me anytime I think about it

seunmsg:


VAT is shared separately from other revenues that goes into the federation account. 85% of all VAT earnings are shared to state and local governments while FG only keeps a meager 15%.

You also talked about Pay as your earn (PAYE). Please note that PAYE is an aspect of personal income tax. Personal income taxes are collected by the state governments and not FG except those of military operatives and foreign service officers.

Blue3k:
Here's what the did with the cash. In Q1 2019 Vat represented 34% of non-oil taxes and less than 1% of gross taxes.

seunmsg:


VAT is shared separately from other revenues that goes into the federation account. 85% of all VAT earnings are shared to state and local governments while FG only keeps a meager 15%.

You also talked about Pay as your earn (PAYE). Please note that PAYE is an aspect of personal income tax. Personal income taxes are collected by the state governments and not FG except those of military operatives and foreign service officers.

Powerintoxicate:
I've been reading comments from some Nigerians saying the reason why the federal government can't pay NIGERIANS the way foreign governments have been paying their citizens is cos Nigerian s don't pay tax. If I may ask can the FG account for the billions of naira it collects from all of us as VAT? Not to talk of the PAY AS YOU EARN.

THE government is just been irresponsible if they refuse to pay stay at home stipends

BluntTheApostle:


Federal government only gets 15% of the VAT you are talking about.

The states and local governments get the remaining 85%.

Revenue from PAYE is not really sufficient in Nigeria because many people outside government employment don't pay tax.

BBC says there are about 60 million Nigerians with employment, but less than 20 million pay tax.

So, how do you use such meagre taxes to cater to 80 million Nigerians that the World Bank says are extremely poor?

Remember that public enterprises are fairly priced. Who do you think is bearing the cost for giving value at low prices?

Powerintoxicate:
for your info the FG gets 52 percent of revenue while 36 states share 48 percent.

Or why do you think politician wants to be President an every one wants to move to Abuja?

BluntTheApostle:


This is understandable considering that the size of our exclusive list in comparison with the concurrent list. The FG caters to far more sectors than the states, and as you know, it takes money to run these sectors. For instance, the FG caters to our prison services. They feed inmates in prisons all over the country, as well as pay employees of the prison services. The government also caters to the police and armed forces, including many paramilitary outfits. Don't also forget that taxpayers money are also used to finance our national assembly where each member goes up with huge amounts of money in bonuses.



The president is not the Federal Government. Don't forget that!!!

UncleJJ:


Why can't people like you come early, hopefully, the second person to post.

Powerintoxicate:
I've been reading comments from some Nigerians saying the reason why the federal government can't pay NIGERIANS the way foreign governments have been paying their citizens is cos Nigerian s don't pay tax. If I may ask can the FG account for the billions of naira it collects from all of us as VAT? Not to talk of the PAY AS YOU EARN.

THE government is just been irresponsible if they refuse to pay stay at home stipends

Powerintoxicate:
in Nigeria for your info the President is as good as been the FG. WHAT the FG keeps is excess to what it spends. Why do you think there's been an excess crude account since obasanjo? How come abacha stole so much yet all these agencies and parastatals were all funded? Thing is there's so much money lying with the FG and if well spent could take good care of Nigerians

sapele914:
T Go & meet your state Governor, 70% of VAT money goes to the States & Local Government.

MansoryMX:


Almost 86% percent of Nigeria has no idea what Value Added Tax is! Even the educated ones who must have come across it during their school days. We pay VAT in almost everything we purchase in this country and still government is using excuse of Nigeria not paying taxes to keep people in Hunger, whereas every citizen at one point in time pay indirect tax. Billions of revenue are gotten from indirect tax in almost non perishable goods we consume. I weep for this country

TheKingIsHere:


Stop saying what you don't know.

50% goes to state while the federal government takes the remaining 50% to share to other states especially the north


https://www.nairaland.com/4110762/lagos-cant-generate-vat-others

sapele914:
OLODO Go and do your research properly, States & Local Government actually collect 85% of VAT.

TheKingIsHere:


So, it is no longer 70% from what you initially said but now 85%? You are obviously confused.

I provided a source link where Ambode complained some years back (2017) that money generated from Lagos State Tax is being shared 50%-50%.

So, why don't you provide the source that says state collects 85% let's see the olodo between me and you. Shioor

smokinloud:


Stop exposing your "olodoness" jare!

TheKingIsHere:


Another ignoramus.

Provide source and stop pulling fiction out of ya azz

smokinloud:



alaye pipe down!
I excerpted from your source guy

TheKingIsHere:


Guy, get lost if you don't have anything sensible to say or a source to butress your point (if any)

Powerintoxicate:
in Nigeria for your info the President is as good as been the FG. WHAT the FG keeps is excess to what it spends. Why do you think there's been an excess crude account since obasanjo? How come abacha stole so much yet all these agencies and parastatals were all funded? Thing is there's so much money lying with the FG and if well spent could take good care of Nigerians

smokinloud:


You might want to check your search engine for it

TheKingIsHere:


The typical excuse. Lol

BluntTheApostle:


No, you are wrong. The president is not as good as being the FG.

One can't rule out there being money, but the country is very corrupt that even the FG can be hoodwinked.

For instance, ghost workers and their accomplices have continued to hoodwink government since 1900. These accomplices have devised means through which they continue to earn money using names of even dead people.

And before the privatization of PHCN, even big companies were debtors, refusing to clear up electricity bills, while many households were using electricity illegally.

We blame our government, but can the average Nigerian compare himself to the average Canadian on the integrity scale?
I

smokinloud:

what excuse?
lol. you nor understand my English
I asked you to use your search engine but wait I'd help you

VAT , a tax levied on goods and services consumed, is shared among the three tiers of government, with the Federal Government taking 15 per cent, while the state and local governments share 50 per cent and 35 per cent respectively . With the present LG structure in the country , the Northern section of the country is placed at an unduly advantageous position because it has by far the greater number of LGAs. These are LGAs created based more on land mass than on human population .

https://punchng.com/redressing-injustice-in-vat-sharing/

FEDERAL GOVERNMENT TAKES ONLY 15% THE REMAINING 85% IS SHARED BETWEEN STATE AND LOCAL GOVERNMENT

TheKingIsHere:


So, it is no longer 70% from what you initially said but now 85%? You are obviously confused.

I provided a source link where Ambode complained some years back (2017) that money generated from Lagos State Tax is being shared 50%-50%.

So, why don't you provide the source that says state collects 85% let's see the olodo between me and you. Shioor

MansoryMX:


Almost 86% percent of Nigeria has no idea what Value Added Tax is! Even the educated ones who must have come across it during their school days. We pay VAT in almost everything we purchase in this country and still government is using excuse of Nigeria not paying taxes to keep people in Hunger, whereas every citizen at one point in time pay indirect tax. Billions of revenue are gotten from indirect tax in almost non perishable goods we consume. I weep for this country