G

chloride6:
This will create another black market

Don't mind dem! People will go incognito to do what they need to do besides, Naigeerians are corrupt all one has to do is bribe the person incharge or the staffs.

lexy2014:


what has banks asking for tax clearance for form "A" applicants got to do with crypto platforms or who is smoking or not smoking?

is Tinubu patriotic?

will he defeat himself and his collaborators like you?

If you were to be a Nigerian, this would have been a good news to you.

With all these stress, you'd still not get anything. Nobody would tell you when to leave the very long queue

How is this rubbish going affect or benefit ordinary Naigeerians

Hmmmm, they are so many loop holes. They are just lagging behind, imagine Bitcoin seeing this? Do you think they will still want to do their stuff in Nigeria? It won't even happen sef.

FreeStuffsNG:
Nigerian banks are now requesting that customers applying for forex transactions via a Form A must now provide at least the last 3 years tax clearance certificate.

Forex speculators ti keran se. From the streets to crypto platforms to banks, they will be smoked out. President Bola Ahmed Tinubu's administration will defeat all the unpatriotic elements and their collaborators online and offline.

God bless Nigeria for ever! Check my signature for free stuffs!

Dey play. This didn't just start today if you travel regularly. I first heard of it last year and most banks have been using this as a means of scrutinising applicants. Even after the whole stress of meeting up, you'd still not get anything. You'd be forced to leave the perpetually long queue and source your fx at the BDC. You can't hold them when the bank tells you that the cbn isn't sending fx allocation or what they received couldn’t get anywhere

nusirat:
When you know the game, no one can defeat you, on the same game. BAT is an old monkey who knows the old trick.

they will look for forex else where. Black market will thrive like mad. Don't be too happy.

They will still not give you forex. Tinubu is a tax man so any scheme that makes you share your financial stand is a welcome idea to him.

That man's policy is always "how much money can I collect from my constituency?"

DEXTROVERT:
This
Will result to
Policy summersault

Many
Will
Now
Run
To
Parallel market

So
As
The
Demand for parallel dollar increase
The price goes up.

It would have been better
To divert parallel market customers to bank
Where they get dollars at official rate.
So few will patronize them

For example, with POS everywhere, we don't go to ATM or quene at banks to withdraw money.

The parallel market has been castrated. There is a limit to what they can do.

iampeterben:
We will leave the bank for you all and move to Opay and Moniepoint. If Opay choose the same path like yours, we move to daily contribution Olidara. Una nor fit stress me ontop my own money.

See this student account holder still dey talk of leaving the banks for Opay as if you get any money for your account before Thank God you finally know the bank for your piggy bank money😌

FreeStuffsNG:
Smh. If it's since last year, Stanbic will not just be informing their customers now. The effective date is April 1, 2024


They will be tracked down, arrested and prosecuted. Most BDCs have lost their licenses and their collaborators on Binance are now under the radar of security agencies.
Very soon, even people will be chasing naira with USD. For most Nigerians, if they are are to be paid in Nigeria today, they will rather collect naira than USD because of the stability now in the forex market unlike before.

There is a difference between black market and BDCs. BDCs are currently highly regulated by CBN. Black market includes you and I who have FOREX at home or in accounts with banks, e-wallets and others. They will keep doing P2P transactions which are not illegal.

Focusmind:
That has been the practice since last year.

I somehow support this - you cannot be asking for cheap government FX when you have not paid your taxes.

Just that there is no more difference between the official market and parallel markets.

the taxes your fathers and grandfathers have been paying, what has government done with it? nigerian politicians are one of the worst set of thieves you can ever meet.

Calitoscassius:
Don't mind dem! People will go incognito to do what they need to do besides, Naigeerians are corrupt all one has to do is bribe the person incharge or the staffs.

a tinubu market

I pity anyone who thinks nigerian government is creating policies to make their life easier. with tinubu in charge, it will be the same extortion process but branded as "tax".

FreeStuffsNG:


https://nairametrics.com/2024/03/20/form-a-applicants-to-submit-three-year-tax-clearance-certificates-banks/

FIRS staff finds another avenue to demand for more bribes

chloride6:
This will create another black market

Exactly! The whole demand pressure is now going to be pushed to the black market thus creating a scarcity and continuous fall of the naira.

Wallade:


There is a difference between black market and BDCs. BDCs are currently highly regulated by CBN. Black market includes you and I who have FOREX at home or in accounts with banks, e-wallets and others. They will keep doing P2P transactions which are not illegal.

P2P service providers and users are not unreachable

FreeStuffsNG:
Smh. If it's since last year, Stanbic will not just be informing their customers now. The effective date is April 1, 2024. There's free float and enough dollars now in the market. Most people are bidding for dollars at lower value now.


They will be tracked down, arrested and prosecuted. Most BDCs have lost their licenses and their collaborators on Binance are now under the radar of security agencies.
Very soon, even people will be chasing naira with USD. For most Nigerians, if they are are to be paid in Nigeria today, they will rather collect naira than USD because of the stability now in the forex market unlike before.

Instead of becoming a doubting Thomas, why not just try and be verifying things first? Google is there for free if you have data. I travelled to Hungary last year. Early this year,.I travelled again to another destination. I have a good relationship woth my bank. They're the first who told me of the tax clearance thing last year. We approached firs and got it done, still no fx allocation from the cbn. The queue was ridiculously long. Na aboki bail me out I'm the end. Same this year.

My inlaws had their tax clearance already
and just last month, they couldn't get fx from the bank for their PTA. We had to go to Allen ave, to get fx for them.

Who do you think is service the parallel market? The CBN and individuals that withdraw FX from Domiciliary acct. Now that withdraw from Dom is no longer allowed, and CBN not selling to BDC's, it is just a matter of time, the parallel market will be grasping for survival.

DEXTROVERT:
This
Will result to
Policy summersault

Many
Will
Now
Run
To
Parallel market

So
As
The
Demand for parallel dollar increase
The price goes up.

It would have been better
To divert parallel market customers to bank
Where they get dollars at official rate.
So few will patronize them

For example, with POS everywhere, we don't go to ATM or quene at banks to withdraw money.

DenreleDave:


I didn't read this but I am sure it is a good news.

Also I am sure some e-rats that are too low in memory to understand this will still come here and wail as usual.

Their leaders dey chop money for campaign, dem dey collect 100mb to fight tribal fight for nairaland

Like kettykin, Bigkoko Kigali & Master Racoon.

Omo, naija go better o! More money for states like Lagos, Edo, Oyo, Ogun, and the FCT.; Homes of travellers!

Eriokanmi:
Instead of becoming a doubting Thomas, why not just try and be verifying things first? Google is there for free if you have data. I travelled to Hungary last year. Early this year,.I travelled again to another destination. I have a good relationship woth my bank. They're the first who told me of the tax clearance thing last year. We approached firs and got it done, still no fx allocation from the cbn. The queue was ridiculously long. Na aboki bail me out I'm the end. Same this year.

My inlaws had their tax clearance already
and just last month, they couldn't get fx from the bank for their PTA. We had to go to Allen ave, to get fx for them.

he doesn't travel. No way in heaven or hell, he'd know these things or have these first hand experiences.

Eriokanmi:
Instead of becoming a doubting Thomas, why not just try and be verifying things first? Google is there for free if you have data. I travelled to Hungary last year. Early this year,.I travelled again to another destination. I have a good relationship woth my bank. They're the first who told me of the tax clearance thing last year. We approached firs and got it done, still no fx allocation from the cbn. The queue was ridiculously long. Na aboki bail me out I'm the end. Same this year.

My inlaws had their tax clearance already
and just last month, they couldn't get fx from the bank for their PTA. We had to go to Allen ave, to get fx for them.

Smh. You shah love to stress yourself unnecessarily when all you need is to ask for clarification politely. The effective date is 1st April, 2024, that's a day after the 31st March deadline to file tax returns.

From April 1 henceforth, it will now be across board. It's like the policy that mandates linking your BVN to NIN, the Federal Government is yet to fully effect it but some banks can still open bank account for you without NIN. When the CBN announces final effective date, it will now become a general rule and standard. Kapish?

DEXTROVERT:
This
Will result to
Policy summersault

Many
Will
Now
Run
To
Parallel market

So
As
The
Demand for parallel dollar increase
The price goes up.

It would have been better
To divert parallel market customers to bank
Where they get dollars at official rate.
So few will patronize them

For example, with POS everywhere, we don't go to ATM or quene at banks to withdraw money.

Mumu! After all the house cleansing and policy in the bdc market, you compare the parallel money market with ATM/POS. You are an illiterate.

BDC guys and banks are now within the grasp of Cardoso. It's no more business as usual.

All ye corrupt civil servants that have children scholling in the abroad, your own don be be that.

This what is called following the money in finance. Few weeks ago when I said, Cardoso is the miles ahead of Emefielele, some miscreants foamed in the mouth.

Treadway:
he doesn't travel. No way in heaven or hell, he'd know these things or have these first hand experiences.

Gradually the policy will bring the parallel market into line, give it time, not enough forex in the system to go round, never will there be, but a little sanity is better than runaway chaos that Nigeria was headed towards.

Don’t hate the player, hate the game.

.

I’ve got some questions.

Does the SG or FG issue tax certificates to all tax paying Nigerians annually?
Is it possible to get a tax clearance certificate without paying the sum of 150k?
I made this enquiry a while ago and it all boiled down to ‘Oga just pay, the thing is not free’.
Please if you’ve know a legit and cost free way to get TCC kindly advice.

While some Nigerians celebrate the harsh policies of the government against its people, who pay VAT, Stamp duties, levies or some form of tax.
Please bear in mind, the individuals that need to pay for medical bills abroad, send kids to school, get PTA to attend professional conferences do not opt for form A because they’re so rich but because they choose to save lives or invest in themselves. Some even borrow these monies.
Other countries provide FX for their citizens at easy. 1300:1 isn’t cheap, yet the process is stiff.

3 years paid TCC + bank charges + swift charges + miscellaneous fees = go to the black market.

How about, just verify that the purpose/invoice/ receivers account number provided is legit by contacting the foreign bank or institution?

chloride6:
This will create another black market

Don't comment if you don't understand a news story!

alphaNomega:
They will still not give you forex. Tinubu is a tax man so any scheme that makes you share your financial stand is a welcome idea to him.

That man's policy is always "how much money can I collect from my constituency?"

Without tax, we ain't going nowhere. Developed countries don't play with taxes!

chloride6:
This will create another black market

Do you know what a Form A is or you just open mouth waaaa and scatter fingers on keyboard.