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Nairaland Forum / Nairaland / General / Politics / Taxation, The Catalyst For National Development. (652 Views)
Taxation: The Hard Road To Economic Prosperity / Multi Taxation: Obiano Is Sitting On Our Neck And We Can’t Breath - Onyedika / I am going to pioneer serious taxation for wealthy Nigerians - Aregbesola (2) (3) (4)
Taxation, The Catalyst For National Development. by lawani: 12:13pm On May 24, 2020 |
It is glaring that taxation is the catalyst for national development. All organised nations got there by organising themselves and taxing themselves income tax, no one is allowed to work under the table, that is, to earn income without paying tax. The higher your tax regime as a nation, the more developed you are and the more accountable your government is to the masses. Nations that do not depend majorly on taxation are often not accountable to their masses. Compulsory dependence on taxation can help even out the globe to a far reaching extent. Other factors like dependency ratio and average age will then determine how rich per capita a nation will be. For example, a nation with a lot of children will be less rich per capita than one with a lot of adults and etc. However, all nations should be compelled to depend on income tax for revenue. This dependency on income tax for revenue has worked for nations that are now called industrialized First World nations, it can work for any nation. 1 Like |
Re: Taxation, The Catalyst For National Development. by karfe(m): 1:13pm On May 24, 2020 |
I am not an expert, but I believe for proper taxation, a society needs to be very well organized and structured. Proper town planning, registration of homes and businesses with streamlined processes and proper approvals, etc. Maybe the coming of BVN and NIMC (if properly reformed and implemented) will kick start a proper tax process. Until then, most businesses contributing to GDP will remain informal and untaxable. In any case, government transparency and positive use of revenue at all levels should give citizens more confidence to participate in the formal sector. 1 Like |
Re: Taxation, The Catalyst For National Development. by lawani: 1:21pm On May 24, 2020 |
karfe:yes of course taxation, formalisation of the economy and organisation go together. Every economic activities should be formalized and taxed and there should be proper organisation as obtainable in industrialized nations. |
Re: Taxation, The Catalyst For National Development. by Blue3k(m): 2:06pm On May 24, 2020 |
Nigeria simply ignored other sources of tax revenue until they couldn't. Does Niger Republic have a more formalized economy than Nigeria? Nigeria can get informal sector to comply with tax law if they're interested. 2 Likes
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Re: Taxation, The Catalyst For National Development. by lastempero: 2:10pm On May 24, 2020 |
Iam not against taxation of an organised society but not like a country like ours and remember dubai was not built on income tax. 1 Like |
Re: Taxation, The Catalyst For National Development. by Nobody: 2:14pm On May 24, 2020 |
lastempero:Dubia have less than the population of anambra and produce more oil than us at a far cheaper rate For Nigeria to produce oil equivalent to dubia we have to produce 150 million barrels per day not the present 2.3 million barrels per day 3 Likes |
Re: Taxation, The Catalyst For National Development. by lawani: 2:18pm On May 24, 2020 |
lastempero:neither is Dubai accountable to the masses. They are a monarchy. 1 Like |
Re: Taxation, The Catalyst For National Development. by lawani: 2:20pm On May 24, 2020 |
Blue3k:Africa is generally more informal than formal but Niger Republic is a better country than Nigeria. |
Re: Taxation, The Catalyst For National Development. by lastempero: 2:28pm On May 24, 2020 |
lawani: So whats your point because i mentioned dubai due to the fact they built a worldclass society without much recourse to taxation but Nigeria is just a den of thieves with alot of leakages,left for me if u can devise a way to evade taxation in Nigeria, just do it. |
Re: Taxation, The Catalyst For National Development. by lawani: 2:38pm On May 24, 2020 |
lastempero:igbochief001 made it clear that Nigeria has to be producing 150 million barrels of oil a day to be even with Dubai because of our population. My point is that you can't get accountability unless you depend on income tax. Dubai is awash with oil money but that does not mean they have accountability. One more thing is that tax is not given it has to be taken by force. So it is normal to want to evade tax. 1 Like |
Re: Taxation, The Catalyst For National Development. by CodeTemplar: 2:59pm On May 24, 2020 |
I Laugh. |
Re: Taxation, The Catalyst For National Development. by lastempero: 3:17pm On May 24, 2020 |
Igbochief001: Dubai is just an emirate and u can as well check on their major income revenue out there in google u will find out that it wasnt oil or tax that gave them the edge they have now but innovations and good leaders with vissions.u didnt also consider the fact that it was a desert land. 1 Like |
Re: Taxation, The Catalyst For National Development. by Nobody: 3:18pm On May 24, 2020 |
lastempero:State the facts you have na |
Re: Taxation, The Catalyst For National Development. by lastempero: 3:31pm On May 24, 2020 |
lawani: If you check my first response to your quote i acknowledge that fact that taxation is a part of an organised society but my point here is that Nigeria i know shouldn't be disturbing us about tax,for me thats broad day robbery on us and u should also know that civil servant and companies are already doing that but what is our government doing with those taxes? The answer is close to nothing because they only loot it back. |
Re: Taxation, The Catalyst For National Development. by lawani: 3:40pm On May 24, 2020 |
lastempero:taxation nowadays is only a minute fraction of national revenue in Nigeria unlike during colonisation. My point is that for the right result, government has to be dependent on taxes. It has to be the main source of government revenue like in industrialized nations. That is my point. 2 Likes |
Re: Taxation, The Catalyst For National Development. by lastempero: 4:09pm On May 24, 2020 |
lawani: It seems you dont live in Nigeria and you don't know what is on ground.how could u encourage the robbery of innocent citizens by these rogues in government. U should make more research on how government should generate money and not by taxation. We have more than 30 mineral natural resources that can fetch us big money so they should consider those options. 1 Like |
Re: Taxation, The Catalyst For National Development. by tatatar: 5:13pm On May 24, 2020 |
lawani:How did you arrive at your 150million barrels calculation.Last time I checked Dubai peaked it's oil production 30 years ago at ~400,000 barrels,and it's been declining since then.While it's oil revenues is just 5% of GDP |
Re: Taxation, The Catalyst For National Development. by lawani: 6:17pm On May 24, 2020 |
tatatar:it was igbochief001 that made the comparison I just quoted him. |
Re: Taxation, The Catalyst For National Development. by lawani: 6:22pm On May 24, 2020 |
lastempero:experience has taught us that there will be no accountability when a nation depends on natural resources for revenue. The only way out is to depend on income tax. Attach the progress of the government to the progress of the workers. 1 Like |
Re: Taxation, The Catalyst For National Development. by Nobody: 6:42pm On May 24, 2020 |
lawani:Why don't you instead advocate for the return of the $600 billion looted by Nigeria's fantastically corrupt leaders since 1960? https://www.youtube.com/watch?v=Wg7lfHL_l1w
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Re: Taxation, The Catalyst For National Development. by lastempero: 6:46pm On May 24, 2020 |
lawani: Who is going to monitor the process if i should ask, even the income taxes that are deducted by multinational companies are not even accounted for . I once worked with a multi national company in Nigeria and for 2 years the taxes deducted from our salaries where not remitted to the govt because they sort them as well. Iam not arguing with u because i dont understand the concept of taxation or how it works but i dont support such for a country riddled with corruption. 1 Like |
Re: Taxation, The Catalyst For National Development. by surgical: 7:39pm On May 24, 2020 |
lastempero:Those promoting taxation in Nigeria are either copy and paste economist or government apologist All countries are different and endowed differently,this are the bases on which policies are formulated Not because somebody is doing it ,I also should do it, not minding that your circumstances are not the same 1 Like |
Re: Taxation, The Catalyst For National Development. by surgical: 7:42pm On May 24, 2020 |
lawani:let everyone do their part, the government and the citizens The government should provide the enabling environment for the citizens to thrive,then they can have the basis to ask for taxation not before |
Re: Taxation, The Catalyst For National Development. by lawani: 7:56pm On May 24, 2020 |
surgical:do you know that our budget is nothing to write home about considering our population and GDP?. |
Re: Taxation, The Catalyst For National Development. by lastempero: 8:44pm On May 24, 2020 |
surgical: The thing tire me, everyone that can copy and paste is now an economist in Nigeria. Just look at how someone is busy defending and propagating taxation as a way forward for Nigeria. It's either the writer is a politician or he or she is benefiting from pen robbers. 1 Like |
Re: Taxation, The Catalyst For National Development. by lawani: 2:40pm On May 28, 2020 |
lastempero:we can never become industrialized and efficient if we don't organise and tax ourselves like developed nations. |
Re: Taxation, The Catalyst For National Development. by rosy02(f): 2:46pm On May 28, 2020 |
Even if all Nigerians pay their tax, Nigeria will still remain the way it is, due to corruption and embezzlement of funds. Check my sig |
Re: Taxation, The Catalyst For National Development. by lawani: 4:08pm On May 28, 2020 |
rosy02:if we depend on taxes, we will resemble those western nations that depend on taxes. They have corruption too but it is minimal. |
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