RepoMan007:
local taxes increases are inherently tied to the weakening of Naira for an importing economy as ours. Before collapse of FX windows 10% of a dollar of import was around N46.00 now it is around N80.00

They damage the economy and show you only the indices that sounds impressive as a result of the damage not the overall picture. Witchcraft economics!

Helinues, I hope u are still learning, or should we go a short brake?

tinsel:
.
https://www.thecable.ng/how-firs-generated-n5-5trn-from-taxes-in-six-months-highest-half-year-revenue-ever/amp

Most of these reports of FIRS breaking tax collection records are a bit overcooked and can only decieve the uninformed.

A number of oil companies pay their PPTA and CITA in USD. So when NGN devalues, it appears as though FIRS is collecting more in Naira.

However, in USD the value of the collection may be essentially flat or even reducing due to the fact that oil companies in Nigeria are not doing as well.

Guy! Only you na Committe cos this your talk ehn. He too Gallant.

Bluntemperor:


Good talk,Bro, especially your last statement on the Corruption in that Company and more importantly Most of the MIDAS-( Min& Dept):

To President Tinubu:
The Following Key Govt Ministries should urgently be Forensically Audited to get to the Root of the Corruption there and put up a permanent Templates that will be difficult to override by greedy Politicians:
1• NNPC- when last was it Audited by both ( Internal and External Auditors)?
Who are they? What was their Budgets and how much were received as Revenue and how much was paid to - Single Treasury Accounts of Govt- and Where was the Receipts of Payment Files?
2• the CBN :
- Who are the Signatories to the Govt Accounts?
- What is the Money granted Anchor Borrowers and
-Who are the Beneficiaries?
-Is it for All the Farmers, irrespective of the Region
-and how much was the Loan to Individuals Farmers?
-which Accounts was used for Disbursement and any Variations in Interest Rate Elements and how much is Recovered now from the borrowers?
• Interest Rates on Agric Sectors should be Single- Rate e g 5% to enable More Nigeria's to do well in Agric and feed the Nation,for in Europe is usually between 0 to 2% etc!
Why has Nigerians not seen the Impacts of these Policies since Dr Adesina Of AFDB left the Country?
- What is the situation on the Cashless Policy of CBN - since it has been abandonedidway as many Nigerians summersaults and became poor on our Money Deposited and till today is still hanging in the System?
3• FIRS - Nigerians wants to know what is the Total Revenue Generated - paid into the Govt Accounts, their Personnel Profiles,etc and how much is being Spent and for what?
4- DISCOS - govt still hold percentages Share.
- Although,you signed a Electricity Bill recently,unless you unbundled this entity,Nigeria can't get Industrialization and in the next 4- yrs,We( Nigerians) will ASK YOU,why are we still having light Issues!
The JAPA Syndrome with the 34/% Unemployment is majorly due to Lack of Power in Nigeria because - everything is about the Light- OIL and Finance to move this Country Forward.So,do something urgently:
i- Pay -Off all the so called Owners of Discos- let New Investors comes into Nigeria such as-- The General Electric,Enron,etc,- then give the a Seriou Target to deliver 24/7 Lights up to every Village!
This is the 21 - Century - where American are living in Space and Indian Govt just launched the Moon Explorations! Egypt is already Meeting- 65% of the Power. Needs! Ghana as a Country has done away with Generators!
• Lay a Revolutionary Industrial Growth like in Dubai-, Israel,etc- Accross Nigeria Region to Employ the Youths
• Established Infrastructural Developments Growths
• Established Energy Bank-likevthe Chinese to take care of the Power/ Infrastructures Deficiency all over the Country! See to their Implementations!
NOW is the time.
God bless Nigeria and Nigeria shall be Great again!

Cromagnon:
you're still expecting sharing of palliatives
For your mind You believe it will reach you or that sharing is a good thing?

My major concern is the debt Tinubu has started piling up already without nothing show forth, I had to add the palliatives to the examples of things to at least even claim he used any of the loans for...

casualobserver:


Even Tinubu himself said the country needs to sim for 15-20% tax to GDP so I don’t know what your point is. Nigeria is one of the lowest taxed nations in the world and even Africa. The problem is that those that pay tax take the brunt of the majority that don’t pay tax as a result of the laziness of tax collection agencies. There is a large pool of untaxed and I don’t mean the poor.

Dude stop this deceit. Nigeria is also the poverty capital of the world you know. You can only tax people whom you have made significant investment in. Where are the jobs, where are the businesses? everyday businesses are closing down and you are talking about the lowest taxed nation in the world.
Guy you really need to be beaten so that you can have sense.

Believeintruth:


Dude stop this deceit. Nigeria is also the poverty capital of the world you know. You can only tax people whom you have made significant investment in. Where are the jobs, where are the businesses? everyday businesses are closing down and you are talking about the lowest taxed nation in the world.
Guy you really need to be beaten so that you can have sense.

Use your brains. You want subsidized petrol, you want good roads, you want infrastructure, you want free education, you want health care but you don’t want to pay tax. Good luck figuring that out.

You are the one without sense. There are a lot of self employed people in this country that earn between N10m and N1b a year that do not pay taxes They will tell you they are billionaires but their tax clearance certificates will say tax paid 500k.

You have no brains otherwise you will realize you don’t have to tax the poor to raise taxes, just tax the people who should pay but currently don’t. People that have 5 cars 10 cars, whose children study abroad but pay less than N1m in taxes. Or foreign companies like MTN and dstv, Facebook, Twitter etc that make money from this country and either don’t pay taxes of pay minimal taxes. The other times MTN was fined, did they pay?

Check the tax clearance certificates of all the people who contested for office in the last elections most of them did not pay the tax they were supposed to pay including people like Obi.
Idiot!!

But why FG are going to borrow money

casualobserver:


Use your brains. You want subsidized petrol, you want good roads, you want infrastructure, you want free education, you want health care but you don’t want to pay tax. Good luck figuring that out.

You are the one without sense. There are a lot of self employed people in this country that earn between N10m and N1b a year that do not pay taxes They will tell you they are billionaires but their tax clearance certificates will say tax paid 500k.

You have no brains otherwise you will realize you don’t have to tax the poor to raise taxes, just tax the people who should pay but currently don’t. People that have 5 cars 10 cars, whose children study abroad but pay less than N1m in taxes. Or foreign companies like MTN and dstv, Facebook, Twitter etc that make money from this country and either don’t pay taxes of pay minimal taxes. The other times MTN was fined, did they pay?

Check the tax clearance certificates of all the people who contested for office in the last elections most of them did not pay the tax they were supposed to pay including people like Obi.
Idiot!!

Oga you are the daftest individual i have ever seen. do you know that the real drivers of the economy are SMEs. where are SMEs in Nigeria? you people just think like park touts whose only desire is to collect taxes. The government should first do the needful then taxes can come. Nigeria is the worst country when it comes to ease of doing business. The so called people that they should tax only make up 0.1 % of the population, and who are those suffering the so called measures Tinubu has put in place? is it not the poor? Oga have sense abeg.See let me now say what is on my mind because idiots like you have sold your soul for peanuts that is why you are defending online so that your supervisors will not withhold your payments.

[quote author=Raskimonojendor post=124559048]The money would be used for development as we saw during Tinubu's tenure assgos state governor.[quote]


Those backup picture evidences of the failure the Obid.ense apologists want us to entrust our future to is surely going to give many headaches today. Make i quickly wear my safety HELMET.
They gonn come for your head like a crazy swamp of bees

Believeintruth:


Oga you are the daftest individual i have ever seen. do you know that the real drivers of the economy are SMEs. where are SMEs in Nigeria? you people just think like park touts whose only desire is to collect taxes. The government should first do the needful then taxes can come. Nigeria is the worst country when it comes to ease of doing business. The so called people that they should tax only make up 0.1 % of the population, and who are those suffering the so called measures Tinubu has put in place? is it not the poor? Oga have sense abeg.See let me now say what is on my mind because idiots like you have sold your soul for peanuts that is why you are defending online so that your supervisors will not withhold your payments.

You are daft, because you an SME you shouldn’t pay tax? They are the ones most guilty of not paying appropriate tax in this country. So called SMEs so called informal sector. They make a lot of money, many of them make N10-100m and more a year. Ow many of them pay the required taxes? The guy with a small/medium shop selling spare parts/ electronics/building materials etc or the woman with a food kiosk can make upwards of N30-100k a day in profit. That’s N10-30m a year, such a person should be paying between N2m and N6m in taxes but if you see their tax clearance certificates it will say N100k, N200k. Landlords that collect rent, do they pay taxes on the rent?

Because they don’t wear suit and tie and go to offices you think they are poor? It is the man that wears suit and tie and works in an office that Carrie’s the tax burden of this country.

casualobserver:


You are daft, because you an SME you shouldn’t pay tax? They are the ones most guilty of not paying appropriate tax in this country. So called SMEs so called informal sector. They make a lot of money, many of them make N10-100m and more a year. Ow many of them pay the required taxes? The guy with a small/medium shop selling spare parts/ electronics/building materials etc or the woman with a food kiosk can make upwards of N30-100k a day in profit. That’s N10-30m a year, such a person should be paying between N2m and N6m in taxes but if you see their tax clearance certificates it will say N100k, N200k. Landlords that collect rent, do they pay taxes on the rent?

Because they don’t wear suit and tie and go to offices you think they are poor? It is the man that wears suit and tie and works in an office that Carrie’s the tax burden of this country.

Again you don't have sense. You are so fixated in defending to justify how much you are being paid to spread propaganda that you fail to see the point we are making.

Believeintruth:


Again you don't have sense. You are so fixated in defending to justify how much you are being paid to spread propaganda that you fail to see the point we are making.

You have no point. You are the one blinded by political propaganda. Everybody knows, subsidy must go, exchange rates must collapse and Nigeria must increase its tax collection ratio.

See the rest of the world, see your mates in Africa! This is as at 2020, only Libya and Somalia has a worse tax to gdp ration than Nigeria….what do we know about Libya and Somalia in 2020? It has gone up but we are still lagging behind. Fools like you will come here and talk about they have light in ghana, they have good roads in Cotonou…..na tax kill am. South Africa that Nigerians like to run to see their tax to GDP ratio 28% compared to Nigeria at 3%. How can we have the same good schools and roads like they have? Yet they are a smaller economy than us!!! You don’t want to pay tax but you want a developed society….idiots!!!!

casualobserver:


You have no point. You are the one blinded by political propaganda. Everybody knows, subsidy must go, exchange rates must collapse and Nigeria must increase its tax collection ratio.

See the rest of the world, see your mates in Africa! This is as at 2020, only Libya and Somalia has a worse tax to gdp ration than Nigeria….what do we know about Libya and Somalia? It has gone up but we are still lagging behind. Fools like you will come here and talk about they have light in ghana, they have good roads in Cotonou…..na tax kill am. South Africa that Nigerians like to run to see their tax to GDP ratio 28% compared to Nigeria at 3%. How can we have the same good schools and roads like they have? Yet they are a smaller economy than us!!! You don’t want to pay tax but you want a developed society….idiots!!!!

Once again your condition is worse than a typical idiot. you are using Europe and Francophone countries. why not use UAE that doesn't impose restrictive taxes on Business. The issue is not taxation but fiscal responsibility, which this administration does not and can never be seen to have. go and get a decent job and stop all this game of propaganda and deceit. Your explanation is hollow you don't need too must epistle for the trash you typed.

Believeintruth:


Once again your condition is worse than a typical idiot. you are using Europe and Francophone countries. why not use UAE that doesn't impose restrictive taxes on Business. The issue is not taxation but fiscal responsibility, which this administration does not and can never be seen to have. go and get a decent job and stop all this game of propaganda and deceit. Your explanation is hollow you don't need too must epistle for the trash you typed.

Like I told you, you are an idiot

https://www.aljazeera.com/news/2023/7/7/nigeria-on-quest-to-almost-double-tax-to-gdp-ratio-in-three-years


In countries like the UAE every company is in the tax net. The problem with NIgeria is that most people are NOT in the tax net. If you have any brains and read my post again, you will see that all NIgeria has to do is get those who are supposed to pay tax but don’t to pay tax that’s alll. I did not and never said increase peoples taxes. I said tax those who are suppose to pay taxes but don’t. M0ron!!!!

The UAE you are talking about actually tax businesses. It is because they tax businesses that income tax is zero. UAE is also a unique country because their infrastructure needs and demands are not comparable to Nigeria. The entire population of the UAE is less than half of just Lagos state. It is 5% of Nigeria’s population. The entire land mass of abudabi and dubai is less than the geographical area of just Lagos state. Most of the country is desert. Therefore the infrastructure needs are less but despite that, their tax to GPD ratio is 14%. slowpoke

You mean 5trillion that has been looted before it arrival?
Bunch of clowns 🤡

TheBillyonaire:
FIRS did not 'generate' 5 Trillion naira, they took more than 5 trillion from the working people and give 5 trillion naira to the politicians to share among themselves.

Nicely put ...

Make sense no wound you...

Amen..

Believeintruth:


Once again your condition is worse than a typical idiot. you are using Europe and Francophone countries. why not use UAE that doesn't impose restrictive taxes on Business. The issue is not taxation but fiscal responsibility, which this administration does not and can never be seen to have. go and get a decent job and stop all this game of propaganda and deceit. Your explanation is hollow you don't need too must epistle for the trash you typed.

you re very foolish and ignorant, how retarded people like you find you way to discuss issues that is above your mental capacity.

Your country have less than 8% tax to GDP ratio and want to enjoy same subsidies with countries that their tax to GDP ratio is 25% to 40% , no be juju be that😂😂😂

ORIENTATION101:
this stupid idiot, stop reading headlines alone. All these loans were already in process before this new administration came to power. The current 10th Assembly of NASS have not approved any loan since this administration started 50days ago
If it is not foolishness how can an Educated person believe 500m can be granted within 50 days from a foreign lender.
Don't you do bureaucracy in govt back in your secondary school days.
Tinubu can't even seek loans without approval of Senate and house of Rep.
If you are smart and not stupid you should have showed me where the new NASS leadership approved loans request from tinubu

Stop reading only headline you stupid idiot

Oga you should have read the entire contents of the links I sent to you before replying me, it is obvious you didn't read the links I sent to you....

ORIENTATION101:
you re very foolish and ignorant, how retarded people like you find you way to discuss issues that is above your mental capacity.

Your country have less than 8% tax to GDP ratio and want to enjoy same subsidies with countries that their tax to GDP ratio is 25% to 40% , no be juju be that😂😂😂

C'mon shattap your stinking mouth there. You want to do tag team with that so called casual observer. i stand by what i said. You cannot tax an impoverished population and if you are saying tax the rich, what is their percentage in the total population. Increasing taxation on businesses will only lead to increased hardship on the people. There has to be fiscal responsibility on the part of the government so that wastages are plugged and removed, because that is what allows for corruption.

casualobserver:


Like I told you, you are an idiot

https://www.aljazeera.com/news/2023/7/7/nigeria-on-quest-to-almost-double-tax-to-gdp-ratio-in-three-years


In countries like the UAE every company is in the tax net. The problem with NIgeria is that most people are NOT in the tax net. If you have any brains and read my post again, you will see that all NIgeria has to do is get those who are supposed to pay tax but don’t to pay tax that’s alll. I did not and never said increase peoples taxes. I said tax those who are suppose to pay taxes but don’t. M0ron!!!!

The UAE you are talking about actually tax businesses. It is because they tax businesses that income tax is zero. UAE is also a unique country because their infrastructure needs and demands are not comparable to Nigeria. The entire population of the UAE is less than half of just Lagos state. It is 5% of Nigeria’s population. The entire land mass of abudabi and dubai is less than the geographical area of just Lagos state. Most of the country is desert. Therefore the infrastructure needs are less but despite that, their tax to GPD ratio is 14%. slowpoke

Can you swear that Nigerian businesses do not pay any form of tax? Oga stop being stupid abeg you don't have any talk. Government should do the needful and become more responsible and have the balls to plug wastage and be fiscally responsible. Then plug money into the economy to stimulate small businesses, after that you can now bring them into the tax net.

Believeintruth:


Can you swear that Nigerian businesses do not pay any form of tax? Oga stop being stupid abeg you don't have any talk. Government should do the needful and become more responsible and have the balls to plug wastage and be fiscally responsible. Then plug money into the economy to stimulate small businesses, after that you can now bring them into the tax net.

Like I said you are daft. Please tell me where I said businesses do not pay tax. What I said is too many people and businesses especially SMEs aka informal sector are either not captured in the tax net or they don’t pay the level of taxes they should pay. A good example is landlords. Another is dividends, most people just pay the withholding tax on dividends which is deducted at source and not the full tax on dividends. Another is vat. A lot of SMEs charge or are supposed to charge vat but do not remit it.

You are clearly daft and or also lack basic English comprehension. Your bias is not allowing your brain to engage assuming you had one to begin with.

Nigeria has one of the lowest tax collection ratios in the world….this is fact.

Most eligible taxpayers are not even in the tax net. I.e the tax authorities are not officially aware of them. This is fact!

Most Eligible individual and corporate/business taxpayers (I hope you Understand the meaning of eligible) either do not pay tax or pay far less that what they are supposed to…this is fact.

Govt requires revenues to provide public services…this is fact

The world benchmark for revenue to GDP is 20%, Nigeria is currently well below that this is fact

Just capturing those who are eligible but currently don’t pay their fair share without raising taxes for those who pay will boost the governments coffers and its ability to provide public services….this is common sense.

As an example, The uk makes more from tax on petrol/ diesel than the countries that produce the petrol. For every $1 Of Nigerian crude, the Nigerian govt makes maybe 40cents. But the UK govt which didn’t produce the crude, slaps a over 100% tax on petrol/diesel and makes more than $1 for doing nothing and taking no risks. That’s why their country is how it is. For all your investment exploration and investment, you make 40cents and yet want to spend 35 cents on subsidy…..fool!

You don’t want to pay tax, your govt says no problem ( it’s not them that will suffer). They provide you with inferior education because that’s all your taxes can pay for, you graduate and complain you can’t get a job. Meanwhile they take your scarce forex and send their children abroad, back in the day the children of presidents, governors and the rich were in the same public Nigerian schools and universities with the common man getting g the same good education. The family of the royal family were attending our teaching hospitals to get proper medical care. Before the rich and the poor shared the same roads, now the rich fly while you spend hours on bad roads. They are even building airports for themselves under the guise of Agro airports. If you like pay tax if you like don’t and protest. They will do whatever you want but you are the ones that will suffer. Tinubu, Atiku and Obi are all very wealthy, their friends aand family will not suffer whether you pay tax or not.

M0ron!!!

masseratti:
sorry boy.. Am not in your league, go and argue with people on yours if you don't understand what I wrote, Ignorance is bliss with what you just wrote up there.. Shalom

lol you dum#ass....the dollar quote at the border is to value your imports so they know how to value your imports, so they can tax you appropriately....so dollar on the street and at i&e window is above 700 and you expect customs to still be quoting at 450,? Are you dum# or just senseless.....don't answer that I know you are both.....and because they tax you based on the dollar value of your import that now means you pay your tax in dollars? Again you are dum# and stupid.....now f#ck off. As anyone ever asked you to pay your taxes in dollars at any Nigerian port? All trade especially international trade are pegged to the dollar which is why every country has a dollar peg....but nobody except the American government would ask you to pay your taxes in dollars.....🙁

helinues:


Could you tell us who requested for the major part of the new loans

It is not who requested, but who collected and spent. Haba.

Raskimonojendor:
Good.
More revenue to be generated during this new dispensation.

So the problem is revenue generation?

helinues:


Could you tell us who requested for the major part of the new loans

Can you even ask him where it said Tinubu requested for $1billion dollars loan..some people and fakes writeups just to be relevant sha

tinsel:
.
https://www.thecable.ng/how-firs-generated-n5-5trn-from-taxes-in-six-months-highest-half-year-revenue-ever/amp

If FIRS alone can generate 5 trillion in six months, this means in a year 10 trillion can be generated which means almost half of the country's budget, what about custom, Jamb, the digital economy, VAT and so on? This is indicates that we are rich enough even without crude oil, except that we don't have leaders but looters

casualobserver:


Like I said you are daft. Please tell me where I said businesses do not pay tax. What I said is too many people and businesses especially SMEs aka informal sector are either not captured in the tax net or they don’t pay the level of taxes they should pay. A good example is landlords. Another is dividends, most people just pay the withholding tax on dividends which is deducted at source and not the full tax on dividends. Another is vat. A lot of SMEs charge or are supposed to charge vat but do not remit it.

You are clearly daft and or also lack basic English comprehension. Your bias is not allowing your brain to engage assuming you had one to begin with.

Nigeria has one of the lowest tax collection ratios in the world….this is fact.

Most eligible taxpayers are not even in the tax net. I.e the tax authorities are not officially aware of them. This is fact!

Most Eligible individual and corporate/business taxpayers (I hope you Understand the meaning of eligible) either do not pay tax or pay far less that what they are supposed to…this is fact.

Govt requires revenues to provide public services…this is fact

The world benchmark for revenue to GDP is 20%, Nigeria is currently well below that this is fact

Just capturing those who are eligible but currently don’t pay their fair share without raising taxes for those who pay will boost the governments coffers and its ability to provide public services….this is common sense.

As an example, The uk makes more from tax on petrol/ diesel than the countries that produce the petrol. For every $1 Of Nigerian crude, the Nigerian govt makes maybe 40cents. But the UK govt which didn’t produce the crude, slaps a over 100% tax on petrol/diesel and makes more than $1 for doing nothing and taking no risks. That’s why their country is how it is. For all your investment exploration and investment, you make 40cents and yet want to spend 35 cents on subsidy…..fool!

You don’t want to pay tax, your govt says no problem ( it’s not them that will suffer). They provide you with inferior education because that’s all your taxes can pay for, you graduate and complain you can’t get a job. Meanwhile they take your scarce forex and send their children abroad, back in the day the children of presidents, governors and the rich were in the same public Nigerian schools and universities with the common man getting g the same good education. The family of the royal family were attending our teaching hospitals to get proper medical care. Before the rich and the poor shared the same roads, now the rich fly while you spend hours on bad roads. They are even building airports for themselves under the guise of Agro airports. If you like pay tax if you like don’t and protest. They will do whatever you want but you are the ones that will suffer. Tinubu, Atiku and Obi are all very wealthy, their friends aand family will not suffer whether you pay tax or not.

M0ron!!!

Again your writing long epistle shows you don't have sense and you are worse than a slowpoke. You accused me of saying in one of your comments that I don't want SMEs to pay tax, and I am showing you how stupid and moronic your postulations are. Oga see you don't have sense, stop trying to rationalize deceit.

Brendaniel:


My major concern is the debt Tinubu has started piling up already without nothing show forth, I had to add the palliatives to the examples of things to at least even claim he used any of the loans for...

chief make i no lie you
Better don't expect anything from the political class
Let's just pray investors take the new power laws and run industry

Cromagnon:
chief make i no lie you
Better don't expect anything from the political class
Let's just pray investors take the new power laws and run industry

Expecting nothing doesn't mean we shouldn't criticize them or call them out when they go wrong...

helinues:
Interesting ..

Next month, government will roll out their full plans about how to cushion the effects of fuel subsidy removal.

Make we save small first, the ministers should be ready anytime next month so that they can start the implementations.

Slow and steady

Self deciet is worse than every other forms of mental Problems

Brendaniel:


Your question is not correct, please rephrase it properly, if you are talking about who is making orders for the loans, it is the FG which Tinubu heads, except you mean something else....

U dey mind am.No its Aisha who heads ministry of finance that is requesting d loan