sulaak:


You and the VP are not smart.

Until Nigeria become an enabling environment, the focus should be on bringing these tech giants into Nigeria so that they can support other tech businesses, create jobs, and invest in technology. Flutterwave and Paystacks are hosted on cloud platform based in USA .

Enabling environment doesn't mean a company should not pay tax!

COMPAQ:


Because they make a lot of profit from Nigeria. If they become too many, it could also contribute to capital flight.

The oil companies and Indian steel companies are the ones making a killing in Nigeria. Buhari and Osinbajo will take Nigeria into the dark ages.

COMPAQ:


Enabling environment doesn't mean a company should not pay tax!

First, try an attract the tech businesses before you start taxing them. This is a country that has poor roads, limited electricity and poor security yet you one to tax investors that can create millions of jobs for unemployed graduates.

When will fulani herdsmen pay tax too?

Despite government resources geared towards building ranches, there seems to be no revenue generation for government as the fulani herdsmen dont pay tax to FIRS

This country is dead

COMPAQ:


Dude in my estate, we have unlimited fibre optic. If your don't know what obtains, too bad for you. Not my fault!

ahahah U funny, Unlimited fiberoptic Internet provided by what company name it!

Talk talk

keepingmum:
Is it the global companies that Bubu suspends willy nilly and therefore impacts their productivity and profitability that they are referring to abi another global tech company

Lots of non locals are migrating their businesses and family from the north because the rules/people have become hostile to "foreigners" , same in other regions in the country.....pray tell why bubu thinks they can attract future investors to put their money in UAR after such disastrous policies, principles and behaviour continually displayed by his govt?? Even fellow fulani govts in Chad and Niger wont invest in the current UAR

Bunch of idi ots wanting to reap where they sowed zero

If the countries where these global tech giants are domiciled didn't provide the environment - how will they emerge as the global tech giants you now envy

To make power available for 12 hrs per day is impossible In UAR

Continue to dig up 1960 gazzete on cow grazing routes and make your country one of the most hostile and dangerous places in the world and think Twitter or Facebook will wake up and remit funds into your TSA

I laugh

barrypro:
Interesting, why not tax profits generated in Nigeria

That will require hard work, millions of informal workers like cattle herders, market women, don't pay tax, yet they are chasing tech businesses that don't need to be in Nigeria.

Osinbanjo the mumu messenger. Sometimes I wonder who's more daft between him and his master.

Lmao

traihit:


What are you insinuating?

Do those entities have physical presence in Nigeria? No. Are they the only platforms making money from NIgerians no. What this actually translates to is that the government will be taxing virtually every website that generates income from NIgerians. If that doesn't translate to hardship for Nigerians, no problem.

The question is, why is Buhari all of a sudden interested in taxing tech companies heavily?

Don't mind them. Even if Twitter sets up an office in Nigeria (which is most likely just going to be a branch, not a subsidiary with servers in Nigeria), it still won't pay Company Income Tax because its revenue will still be generated by servers based in the US.

[quote author=erico2k2 post=103149923]
Do people watch Netflix in Nigeria? with what Internet??am sure u got better things to do.Dis guys only understand cow operations

[quote author=macAB post=103151075][/quote]

Low taxes lure in fdi, high taxes chase them away .

High taxes on fdi promotes local industries, creates employment.

High taxes on the rich spread's wealth, reduces materialism and exposes fraud.

Low taxes on the poor , make's it easier for them to navigate into middle-class.

So prepare the stew with the right proportion of ingredients.

Brother Seun, get ready o.

They will soon start taxing this your Nairaland anyhow.

COMPAQ:


It is very enforceable. Go to dubai and try to use WhatsApp to call. It will not work! Even with what ever vpn. If I'm not mistaken you can only chat with WhatsApp there, but not call. They use it to ensure visitors buy tourist sim cards which is expensive that they make money from. They certainly found a way to make WhatsApp unusable.

How does that generate tax revenue from online companies for Nigeria?

Bolustical:
Watch out for white slaves who will condemn the FG for this good initiative.

How can a private entity keep making money from Nigeria without remitting its taxes?

Can a Nigerian firm try the same abroad without the FBI/IRS breathing on its neck?

The hatred for Buhari has made some of you haters of your country but we move.

Even Buhari hates Buhari. What will happen to the tax that will be collected? It will be embezzled as usual

keepingmum:
Is it the global companies that Bubu suspends willy nilly and therefore impacts their productivity and profitability that they are referring to abi another global tech company

Lots of non locals are migrating their businesses and family from the north because the rules/people have become hostile to "foreigners" , same in other regions in the country.....pray tell why bubu thinks they can attract future investors to put their money in UAR after such disastrous policies, principles and behaviour continually displayed by his govt?? Even fellow fulani govts in Chad and Niger wont invest in the current UAR

Nigeria is a the biggest consumer market in Africa if and when it comes to ICT,due to her versed population advantage. She's not forcing any coy to do business with her but you should read to understand the law of the Land as States; "In Nigeria, according to the Finance Act 2019, a company will pay taxes if it “transmits, emits or receives signals, sounds, messages, images or data of any kind by cable, radio, electromagnetic systems, or any other electronic or wireless apparatus to Nigeria in respect of any activity, including electronic commerce, application store, high-frequency trading, electronic data storage, online adverts, participative network platform, online payments and so on, to the extent that the company has significant economic presence in Nigeria and profit can be attributable to such activity.

“If the trade or business comprises the furnishing of technical, management, consultancy or professional services outside of Nigeria to a person resident in Nigeria to the extent that the company has significant economic presence in Nigeria” .

teelaw4life:
Silly idiots pontificating and doing what silly idiots do best. You know which African country can tax a gaint tech company like Twitter presently? Ghana.

When we say make policies that are investor friendly. When we say put the country in a position where they can take advantage of any form of global interest from local and foreign investors, this is what we mean.

Once they come in with huge money to invest in the country, taxing them will be easier than ABC.

But na lie. Buhari and co will rather die on the hill of cattle economics

Oga join and follow the rule of the country or get booted out.
The laws are simple as states "In Nigeria, according to the Finance Act 2019, a company will pay taxes if it “transmits, emits or receives signals, sounds, messages, images or data of any kind by cable, radio, electromagnetic systems, or any other electronic or wireless apparatus to Nigeria in respect of any activity, including electronic commerce, application store, high-frequency trading, electronic data storage, online adverts, participative network platform, online payments and so on, to the extent that the company has significant economic presence in Nigeria and profit can be attributable to such activity.

“If the trade or business comprises the furnishing of technical, management, consultancy or professional services outside of Nigeria to a person resident in Nigeria to the extent that the company has significant economic presence in Nigeria” .

erico2k2:

ahahah U funny, Unlimited fiberoptic Internet provided by what company name it!

He should name the Estate first...i want to check something...
@COMPAQ kindly post the needful.

COMPAQ:


Make you come kidnap me abi? But there is Fibre One all over middle /upper class lagos. And Broad based communications.

LMAO lame excuse! So a random Moniker stating the name of an Estate area will put such @risk ba? Or you are also tryna say you own the estate ...Lols

SMH @So many persons clamoring for what will only be of benefit to looters leaders.

With all the high taxation put in place by the present clueless administration they still go borrowing.

We need young visionary leaders abeg.

@Seniorwriter

COMPAQ:


It is very enforceable. Go to dubai and try to use WhatsApp to call. It will not work! Even with what ever vpn. If I'm not mistaken you can only chat with WhatsApp there, but not call. They use it to ensure visitors buy tourist sim cards which is expensive that they make money from. They certainly found a way to make WhatsApp unusable.

lies vpn will bypass that easily

How do you know the income of what’s app and tax them… talk is cheap

dalongjnr:

Oga join and follow the rule of the country or get booted out.
The laws are simple as states "In Nigeria, according to the Finance Act 2019, a company will pay taxes if it “transmits, emits or receives signals, sounds, messages, images or data of any kind by cable, radio, electromagnetic systems, or any other electronic or wireless apparatus to Nigeria in respect of any activity, including electronic commerce, application store, high-frequency trading, electronic data storage, online adverts, participative network

erico2k2:

ahahah U funny, Unlimited fiberoptic Internet provided by what company name it!

He is right.And its even faster than most availabe in UK.

dalongjnr:

Nigeria is a the biggest consumer market in Africa if and when it comes to ICT,due to her versed population advantage. She's not forcing any coy to do business with her but you should read to understand the law of the Land as States; "In Nigeria, according to the Finance Act 2019, a company will pay taxes if it “transmits, emits or receives signals, sounds, messages, images or data of any kind by cable, radio, electromagnetic systems, or any other electronic or wireless apparatus to Nigeria in respect of any activity, including electronic commerce, application store, high-frequency trading, electronic data storage, online adverts, participative network platform, online payments and so on, to the extent that the company has significant economic presence in Nigeria and profit can be attributable to such activity.

“If the trade or business comprises the furnishing of technical, management, consultancy or professional services outside of Nigeria to a person resident in Nigeria to the extent that the company has significant economic presence in Nigeria” .

You re waisting your time educating people who dont want to spend time to do reseaech and read.A one line response is enough for them.

Digital tax has been a concern for all countries and Nigeria has just woken up to this.

All other countries re pushing for this.

VillageBus:
E no fit work, if every country start tax online tech companies, small ones no go grow because there small gain wey Dem suppose use improve, government go dey collect am.
Plus how them go take know how much the online tech companies make from Nigeria so Dem go know how much to tax them?

Very easy.

If you want to pay for an advert on Twitter with your card, your bank will know even how much involved. At the end of the month each bank will automatically know how much Nigerians paid to Twitter. And twitter would refund a certain percentage as tax.

However, they may increase advert rate for Nigerians. At the end of the day, it would be Nigerians that would lose not Twitter, but government will have more money for development or to steal.

Note: Still you can bypass everything by paying with a non-Nigerian card using VPN connection.

COMPAQ:


Be there! A lot of estates in lagos have fibre optic cable Internet that has unlimited data for like N15k. You can watch Netflix 24hrs for 1 year if you like, the data no dey finish.

And even if you don't have fibre, some others offer unlimited like Ntel and Smile!

I stayed for about a month in one of the estates that has this.Men that thing moves with the speed of light all just for 15k.I did not want to go back to Ekiti.

Ayo2004:

This man is all talk and no action,he should please leave politics and go back to his pastorpreneural activities
The most useless VP in the history of Earth

Watch as RCCG members and gullible Yoruba people will flood this thread attacking me with his praise and saying his hands are tied..somebody that only knows how to share 5k

He is at least still better than your father

https://www.youtube.com/watch?v=kS32S_fo_6g

Not too sure how to collate this information. I just hope we don't shoot ourselves in the foot despite the fact that people must pay tax oh..

Is this thing they want to do in line with global best practices before they use their selfish idea and drive us out out of the world wide web.

The big tech companies will laugh and press one button and Nigerians will be paying any amount imposed. They can even create one virus that affects Nigeria only and create a life treatment drug. We better be careful. 5G network is their remote