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Lagos State Earns ₦788.29 Billion In PAYE In Three Years - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Lagos State Earns ₦788.29 Billion In PAYE In Three Years (5862 Views)

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Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Truth234(m): 2:53pm On Nov 03, 2021
Data from the National Bureau of Statistics (NBS) shows that the 36 states in the country and the Federal Capital Territory (FCT) earned N2.33 Trillion from Pay As You Earn (PAYE) in three years 2018 to 202o.

Pay As You Earn (PAYE) is a form of personal income tax that is deducted directly from the wages and salaries of employees operating in the formal sector. Employers in Nigeria are responsible for directly deducting Pay as you earn taxes from their employees’ earnings.

Unsurprisingly, Lagos state earned the highest from Pay as you earn tax collected with N788.29 Billion collected in the period under review. Rivers State with N255.34 Billion was a close second, the Federal Capital Territory with N210.08 Billion collected was third with N210.08 Billion collected. Jigawa State with N11.74 Billion, Taraba State with N10.66 Billion, and Gombe State with N9.23 Billion made the least from PAYE during the period.

The South-West earned N1.0 Trillion from PAYE in the three years, therefore making it the region with the highest PAYE earnings, The South-South meanwhile came second with N555.14 Billion earned from PAYE during the period. The North-Central earned N366.71 from PAYE, making it the region with the third-highest PAYE earnings. The North-West earned N172.95 Billion making it the region with the fourth-highest PAYE earnings. Rounding up the list at fifth and sixth were the South-East at N134.53 Billion earned and the North-East at N96.54 Billion earned.

Personal Income Tax in Nigeria is guided by the amended Personal Income Tax Act Cap P8 LFN 2004, and is imposed on the income of individuals, corporate sole or body of individuals, families, communities and trustees or executors of any settlement. The tax ranges from seven per cent to twenty-four per cent depending on the amount of chargeable income and the due date for the remittance of PAYE is the 10th day of every new month.

https://investorsking.com/2021/11/03/lagos-state-earns-n788-29-billion-in-paye-in-three-years/

3 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by PrinceOfLagos: 2:55pm On Nov 03, 2021
Cash out time for Tinubu as usual

If you know you know

7 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Truth234(m): 2:56pm On Nov 03, 2021
PrinceOfLagos:
Cash out time for Tinubu as usual

If you know you know

Lol.. PrinceOfLagos Mynd44
Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Iamgrey5(m): 3:09pm On Nov 03, 2021
If Lagos accounts for 780+ out of the 1trn plus south west makes in PAYE

The rest of the Southwest minus Lagos still makes 200 billion +, which is more than the South East and perhaps the North East combined.

It's still higher than Southeast, North East or North west region respectively, with either of them not up to 200bn each.

So much for the "if you remove Lagos out of South West" crew.

73 Likes 8 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by SonofDevil: 3:28pm On Nov 03, 2021
Before nyamiris from poto-potoland start convulsing lagos tax comes from formal sector

Okrikia,gala and lacasera, 2by2 shops e.t.c literred around lagos re not classified as formal sector.that's why south east igr is very low because their economy is driven by informal sector, petty trading

Make federal govt kuku return capital to south west cos yorubaland is the economic capital of west africa

54 Likes 6 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by LegendHero(m): 3:33pm On Nov 03, 2021
Iamgrey5:
If Lagos accounts for 780+ out of the 1trn plus south west makes in PAYE

The rest of the Southwest minus Lagos still makes 200 billion +, which is more than the South East and perhaps the North East combined.

It's still higher than Southeast, North East or North west region respectively, with either of them not up to 200bn each.

So much for the "if you remove Lagos out of South West" crew.

Very correct.

32 Likes 3 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Geestarry(f): 3:34pm On Nov 03, 2021
It's not surprising
Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by LegendHero(m): 3:37pm On Nov 03, 2021
PrinceOfLagos:
Cash out time for Tinubu as usual

If you know you know

Shukudi, Instead of you to ask question why SE is competing with security challenged NE in the figure, you are here weeping as usual about Tinubu.

Obi Pandora should advise SE governors on what they can do to increase revenue with his him tu lie Chinese statistics.

47 Likes 1 Share

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Factshunter: 6:26pm On Nov 03, 2021
God bless the real developers, the civil servants, the Lagos state workers... that make and made Lagos what is it through their contributions and or taxes.

grin

15 Likes 1 Share

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Factshunter: 6:34pm On Nov 03, 2021
SonofDevil:
Before nyamiris from poto-potoland start convulsing lagos tax comes from formal sector

Okrikia,gala and lacasera, 2by2 shops e.t.c literred around lagos re not classified as formal sector.that's why south east igr is very low because their economy is driven by informal sector, petty trading

Make federal govt kuku return capital to south west cos yorubaland is the economic capital of west africa

cool

2 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by DEROX: 7:12pm On Nov 03, 2021
Chai this is what we call money seriously, lagos is blessed may God bless the owners of lagos starting from the King to all political leaders
I now know why they can feed themselves without FG funds

16 Likes 2 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Nobody: 8:44pm On Nov 03, 2021
PrinceOfLagos:
Cash out time for Tinubu as usual

If you know you know
Dem dey help me count my money
How many u dey see?
Lagos baby mo Jaiye me o
Every body seee

Ibo spread eyes on my money grin
How many dem dey see
South East in crisis o
E no concern them

17 Likes 1 Share

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by atorioke(m): 8:57pm On Nov 03, 2021
Lagos as a state continues to save the South West from obvious embarrassment. Just imagine if you deduct that of Lagos from South West, it is still higher than that of South East, Oghene Biko o. God forbid.

How will South East economy look like self if they get this independence. People that prefer to run to another man's land for greener pastures, how will they develop their land? Them like another man land pass their own. Countires wey grow from nothing to something nor dey run go another man land to form developers.

22 Likes 3 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by kerry57: 4:20am On Nov 04, 2021
Naa soo. Una own na to dey call bigy bigy money for the masses ear. Money wey we no the see. E go better one day Sha.

1 Like

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by MANNABBQGRILLS: 4:22am On Nov 04, 2021
Pay As You Earn (PAYE) is a form of personal income tax that is deducted directly from the wages and salaries of employees operating in the formal sector. Employers in Nigeria are responsible for directly deducting Pay as you earn taxes from their employees’ earnings.
The major way sane societies make money,
Just that their citizens see what the government take their taxes for.
But in our darling country, corrupt entities and politicians have looted the future of the people supporting them.... so unfortunate!
One day, we will get it right as a nation.

We Rise.

4 Likes 3 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by MANNABBQGRILLS: 4:25am On Nov 04, 2021
This is a very good one.

Lagos State : A country within a country.

The State of many Firsts.

God bless Lagos State.

God bless Nigeria.


We Rise.

13 Likes 6 Shares

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Boogyman557: 4:26am On Nov 04, 2021
HOLLY GRAM cool WTF MAN
Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by pepericozi: 4:27am On Nov 04, 2021
Our government are short changing their workers. Can you imagine.

Eventually, they will embezzled the money without ploughing it back to the society for social amenities.

Shio

1 Like

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Opexzy: 4:30am On Nov 04, 2021
As usual, we have to remove Lagos cheesy
Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Tareq1105: 4:34am On Nov 04, 2021
PrinceOfLagos:
Cash out time for Tinubu as usual

If you know you know

Don't give yourself hypertension on top of Tinubu matter.

10 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by adioolayi(m): 4:38am On Nov 04, 2021
States are not doing enough....South Africa earning about $49Billion from Personal income and profit tax in 2018!!!

Nigeria earning less than Paltry NGN 1 Trillion is not acceptable...we are not doing enough .we have the population... Government need to do more and put in place structures to put more citizens in tax net.

How do you drive development with this kind of income...it's all about Federal allocation from oil money... nothing more.

Not a single state is self sufficient.. without oil money..all are zero!!!

When are we going to wake-up

3 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Tareq1105: 4:40am On Nov 04, 2021
atorioke:
Lagos as a state continues to save the South West from obvious embarrassment. Just imagine if you deduct that of Lagos from South West, it is still higher than that of South East, Oghene Biko o. God forbid.

How will South East economy look like self if they get this independence. People that prefer to run to another man's land for greener pastures, how will they develop their land? Them like another man land pass their own. Countires wey grow from nothing to something nor dey run go another man land to form developers.


PAYE is paid by those in formal sector of the economy.

Most South Easterners in Lagos are not in the formal sector they're more into buying and selling. So, their PAYE contribution is very minimal.

12 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by namdyz(m): 4:41am On Nov 04, 2021
My PAYE is 27k every month, I sometimes wonder if Nah we workers dey pay the company's tax too.

7 Likes

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Yankee101: 4:44am On Nov 04, 2021
Sustainable state

1 Like

Re: Lagos State Earns ₦788.29 Billion In PAYE In Three Years by Onyiiobi7735(m): 4:48am On Nov 04, 2021
SonofDevil:
Before nyamiris from poto-potoland start convulsing lagos tax comes from formal sector

Okrikia,gala and lacasera, 2by2 shops e.t.c literred around lagos re not classified as formal sector.that's why south east igr is very low because their economy is driven by informal sector, petty trading

Make federal govt kuku return capital to south west cos yorubaland is the economic capital of west africa
This fool is filled with so much bitterness, hatred and jealousy.
Soon you will have High BP

1 Like

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