richmond500:
VAT is not a production tax, but terminal tax which is paid by the ultimate consumer.

kmcutez:


I meant can’t the states survive from the sharing of oil income, stamp duty, taxes from companies etc collected by the federal government.

kmcutez:


I meant can’t the states survive from the sharing of oil income, stamp duty, taxes from companies etc collected by the federal government.

DubaiLandLord2:
Once states start collecting VATs, the money all the states get from the FG will reduce.

richmond500:
IF state collect VAT, FG money go reduce,
if that happens, money given to state govt will reduce also,
if that happens, inflation will bite in some states,
if that happens, hunger go reset people brain,
if that happens, people will be forced to migrate
If that happens crime will increase,
If that happens, no state is safe.

richmond500:
[s]do u use Naira? Does any of ur credentials have Biafra nationality?
What makes u think u aren't Nigerian?

Anyways I don't want to turn the thread into something else.
When I created the thread, I didn't even think of tribal sentiments, how u were able to drag igbo into this thread is overwhelmingly astonishing[/s].

Zombieristic Abokeyna, you are lying to your empty skull and your kind that you didn't think of Igbos when you were opening this thread.

How you monkeys think has been studied with 100% predictive accuracy by our likes.

Brimstone77:
this is my main reason of viewing this thread and I'm not disappointed...


A day without zombies mentioning ipob or Igbo is like a day wasted....

extol1:
kogi, capital NO

richmond500:
Will your state survive if every states collects VAT because there will be different VAT for different states assuming each States collects its own VAT

States like IMO, Kebbi, Zamfara, Osun will need to have 1000% increase to break-even, meaning despite this, they won't still make profile from tax, while the most viable state like Bayelsa will have at least 200% increase to break-even, it is not rocket science to know that at least 30 states will go bankrupt.

States like Lagos, Rivers and Oyo will have people coming into the states daily in numbers due to massive inflation in their respective states which will lead to overpopulation in Rivers and Lagos(already overpopulated), only 3 States will keep progressing geometrically while the rest states will have a massive decline in commerce and trade.

Me, I no go like Almajiri and Ipob in Rivers state o, we never deal with cultism problem finish

richmond500:
what state?

psucc:
It may surprise you that some of these states will wake up to their responsibilities. Within one to two fiscal year, there'll be a tremendous increase (positive) in VAT generation.

richmond500:
that can never happen, the states will take at least a decade to get back on their feet cos people will run away from the states when inflation bites

Kyase:
Well
Benue May and May not survive
We have what it takes to survive but we don’t have the brain to use it(leaders)
Abeg make dem stop this rough play

richmond500:
Am I suppose to ask ur body count?


We dont use dollar in Nigeria, we use Naira, were u living under a rock?


liar

Brimstone77:
so you don't use dollars in Nigeria??


Well you can believe what ever you like who cares??

richmond500:
Oga we don't use dollar, we exchange it to Naira and use Naira

richmond500:
some states are economically more viable than others, and therefore could generate massive tax easily even if VAT price is very low. Others states doesn't have this advantage and to keep up with their spending, taxation will be disproportionately increased, this will also affect inter-state commerce with different tax values, some states will definitely go bankrupt, despite the states not economically viable, the tax will be massive.

I stand to be corrected

Brimstone77:
ok maybe you travel to America to do the exchange..

richmond500:
I see, u live under a rock, there are many companies and banks that exchange dollar to Naira in Nigeria.

Chukwudi, come out of ur 2X2 shop and see how things work

Brimstone77:
they do the exchange in Nigeria yet you claim you don't use dollars in Nigeria...

Weldon sir!

DubaiLandLord2:
Ogun state will soon pass the VAT bill too.

If the court gives the states the go ahead, there will be no going back on this VATs issue.

richmond500:
Oh God!!!!
Are u daft or what?

Lemme explain better and use pictures in ur level so u could understand.

Nigeria don't use dollar, if u have dollar, u need to change it to Naira before it could be used, lemmne use this picture for clarification

richmond500:
IF state collect VAT, FG money go reduce,
if FG money reduce, money given to state govt will reduce also,
if money given to states reduces, inflation will bite in some states,
if inflation bites, hunger go reset people brain,
if hunger reset agbero and touts brains, people will be forced to migrate
If they migrate, crime will increase,
If crime increses, no state is safe.
If no state is safe, investments will not be safe,

Coldie:
Imagine it Abia that with VAT is already miserable imagine minisung VAT which is like #20billion from their allocation, will they survive?

Brimstone77:
you don't have sense at all? Since you don't use dollar why do you exchange it in Nigeria??


Please I don't usually ague with dumb people..

theTranscriber:

you are not even ashamed

imo generates 2 billion and collects 25 billion

that's a disgrace
even small Osun does better



regionalism is the way to go


e shock you?

n'di deveropers didn't even generate up to a quarter of what you receive


yet na you dey shout pass

I sorry for you

Kyase:

That won’t happen though