So?

How does this translate to anything?

OAFMods:
More wahala 4 obidient ipob troubled medulla

VAT revenues increased but you're still poverty-stricken. Sometimes, that thing in your head called brain should be put into good use.

Believeintruth:
Let me ask you one question. Did you verify what these people said or you just took it by face value? Oga see the wise thing you do is to not corroborate a statement that you yourself have not proven or experienced. It is clear you are biased against obi because of his ethnicity. If it was Osinbajo you will not say this despite the fact that he has no known achievements.

Seems this will be my last response to you. Look not everyone is nepotic/bigot or those terms. I am very much open-minded and frank and criticize whoever when due; I care less of whose ox is gored in the face of truth. I don't Osinbanjo to tangible achievements either.
I rate Soludo a lot, for his achievements as CBN governor. I rate that previous Ebonyi governor a lot for his work in the state. I don't rate Obi at all for his subpar deeds as a governor. If these go against most of the governors today as President, I'll pick Soludo if no opponent is worthier.

You should deduce my ideology well enough through this.

Yet the economy is still in chambles. Nonsense. Judas the tax collector

haybhi1:
Seems this will be my last response to you. Look not everyone is nepotic/bigot or those terms. I am very much open-minded and frank and criticize whoever when due; I care less of whose ox is gored in the face of truth. I don't Osinbanjo to tangible achievements either.
I rate Soludo a lot, for his achievements as CBN governor. I rate that previous Ebonyi governor a lot for his work in the state. I don't rate Obi at all for his subpar deeds as a governor. If these go against most of the governors today as President, I'll pick Soludo if no opponent is worthier.

You should deduce my ideology well enough through this.

Stop trying to dodge and be evasive I asked you to present migratory data, and you giving me a useless diatribe. Oga present the data or forever stop lying about people.

Treadway:
it is law of common sense. If vat is 10% and the item you used to buy 5000 has increased to 8000, the vat you pay has increased from 500 to 800...

simple sturvs

Do you even understand inflation and how vat actually works? Vat is not relative to inflation but to purchasing power. Increase in price is dependent on supply and demand and vat is not relative to it. Do you even realize that vat is just a government way of making money to run the government? That's why in countries like UK you have high taxation and it's those in the higher salary class that pays more. So having a high end job means higher tax and then countries like Dubai there's almost no tax. Tax is just a means for the government to raise money to cater for the needs of its citizens so if at all now the government no longer subsidize fuel, Naira and electricity the tax should drop.
Economics is a secondary sch subject that is compulsory yet ur level of ignorance is higher than the Eiffel tower. Then u lace it arrogance by terming it common sense. Lol. Agbadonomics. 🤡

Inspirer1:
Celebrating increased vat generation while the citizens get more impoverished. Its judicious usage is more important as far as we are concerned.

Did you notice the 10b cost of collection?
I can bet one "known" company was the beneficiary.

Dude, you're thick. Incredibly thick 🤣🤣

OAFMods:
More wahala 4 obidient ipob troubled medulla

If you like, let it skyrocket to $100 Trillion. If the effect of this your revenue is not felt by everyone just the same way everyone is feeling the effects these of bad governments.

Daystar7:


Do you even understand inflation and how vat actually works? Vat is not relative to inflation but to purchasing power. Increase in price is dependent on supply and demand and vat is not relative to it. Do you even realize that vat is just a government way of making money to run the government? That's why in countries like UK you have high taxation and it's those in the higher salary class that pays more. So having a high end job means higher tax and then countries like Dubai there's almost no tax. Tax is just a means for the government to raise money to cater for the needs of its citizens so if at all now the government no longer subsidize fuel, Naira and electricity the tax should drop.
Economics is a secondary sch subject that is compulsory yet ur level of ignorance is higher than the Eiffel tower. Then u lace it arrogance by terming it common sense. Lol. Agbadonomics. 🤡

the greatest handicap a person can have is to be willfully ignorant. Marry what I just taught you to this attached below and see if all of this mumbo jumbo you wrote makes any sense.

Read a little, it helps. You are clearly ignorant of the fact that just about everything you buy has VAT built into it, including bank charges.

Shiior

If na tax, I give it to Tinubu. But to industrialize the country, I doubt if he can. Na only tax he sabi

Mr Tinubu came to kill and plunder

Where is the money?

Tinubu should show workings!

Paraman:


https://punchng.com/vat-revenue-rose-from-n347bn-to-n549bn-under-tinubu-faac-report/?utm_source=telegram&utm_medium=social

Paraman:


https://punchng.com/vat-revenue-rose-from-n347bn-to-n549bn-under-tinubu-faac-report/?utm_source=telegram&utm_medium=social

Bastard is taxing our poor lives frm every corner.Imagine proof of ownership for cars to be renewed 6 monthly.something that was once a lifetime until next owner.Useless agbado druggie

This one too na achievement?
VAT that will still be stolen....

Dear Reno
Please explain to us how you could afford the lifestyle you currently live. How did you make the money you used to buy US and UK houses and a fleet of classic cars, marry a foreign wife, and sustain a family abroad? The only known history of your employment is being a former aide to the former vice president AA and President Jo. Let's peg your salary in those positions to N250,000 per month. Multiplying N250,000 with 16 years gives N4,000,000. N4,000,000 is not enough to buy one of the classic cars you flaunted on your FB page some time ago. Are you a covert public funds looter deceiving your followers as a righteous pastor? Please kindly elaborate on these as you usually do.

This increase is basically because the prices of goods and services went up.

Revenues are generated but negative impacts of fuel subsidy removal most especially hunger remains unabated.

Treadway:
the greatest handicap a person can have is to be willfully ignorant. Marry what I just taught you to this attached below and see if all of this mumbo jumbo you wrote makes any sense.

Read a little, it helps. You are clearly ignorant of the fact that just about everything you buy has VAT built into it, including bank charges.

Shiior

A day old kid knows there's tax on virtually everything here in Nigeria and you're running from pillar to post now. You based your tax whatever on goods purchased and not on the power of the person purchasing said goods. I've given you UK and Dubai as example to help ur understanding but you still fail to comprehend simple explanation.
You don't increase vat based on increase in the price of goods. Increase in the price of goods is dependent on the law of supply and demand and is not relative to tax. When there's low supply, there 'll be high demand which in turn inflates the price of goods but this doesn't mean automatic increase in vat.
Take Garri for example, garri is now more expensive than it should ever be, what sense is there to increase tax on garri when there's already increase in price of transportation and logistics of the garri and the purchasers have low purchasing power? Increasing tax will only make sense when you increase their salary, that's how it works. Imported goods are cleared by paying import duties, this duties are added to the cost of goods by the importers and then distributed and like that it's covered in bits by the consumers. So each time you purchase anything you pay tax. Now increasing tax automatically cos there's an increase in price is not relative. Tax is relative to purchasing power and where goods are subsidized. The UK, US, Canada subsidize a lot for their citizens and get it back by taxing them. Now this tax is higher for those in the higher class than lower class.

Price of goods increased in naira, so the 7.5 of the price too will increase .

Let's do it in dollar and see.

Even fed govt is benefitting from inflation. Tomorrow they will say ordinary Nigerian seller is greedy

Daystar7:


A day old kid knows there's tax on virtually everything here in Nigeria and you're running from pillar to post now. You based your tax whatever on goods purchased and not on the power of the person purchasing said goods. I've given you UK and Dubai as example to help ur understanding but you still fail to comprehend simple explanation.
You don't increase vat based on increase in the price of goods. Increase in the price of goods is dependent on the law of supply and demand and is not relative to tax. When there's low supply, there 'll be high demand which in turn inflates the price of goods but this doesn't mean automatic increase in vat.
Take Garri for example, garri is now more expensive than it should ever be, what sense is there to increase tax on garri when there's already increase in price of transportation and logistics of the garri and the purchasers have low purchasing power? Increasing tax will only make sense when you increase their salary, that's how it works. Imported goods are cleared by paying import duties, this duties are added to the cost of goods by the importers and then distributed and like that it's covered in bits by the consumers. So each time you purchase anything you pay tax. Now increasing tax automatically cos there's an increase in price is not relative. Tax is relative to purchasing power and where goods are subsidized. The UK, US, Canada subsidize a lot for their citizens and get it back by taxing them. Now this tax is higher for those in the higher class than lower class.

you can't be helped.

Carry on.

It’s just nominal paper figures not real growth


Dollar under buhari was 400 plus, and 1k plus under Tinubu

Our source of revenue is oil and imports which are all dollar denominated. By the time you convert to a devalued naira it should increase of course. That’s not growth, that’s devaluation

RisenJoe:
😂😂😂, what's the essence of tax if the citizens bear the brunt and not the establishments or companies you are trying to tax.



You removed fuel subsidy and instead of making use of the money saved, you decided to increase taxation thereby making the suffering double.

Agbadonomics

Emotions aside, You can't use Tax levied to undermine the Benefits and Impact of a robust Revenue on an economic

its a known fact developed countries pay higher taxes, of which Nigeria is nowhere close

Increasing our Revenue is good from all sides but the only challenge is corruption & misappropriation,

mannobi:
You can't take that fact away from Tinubu. He knows how to generate money.

anyone in authority can generate money using force or fraudulent policies.

But even if he can do genuinely... Do you feel the impact of the money?

Has that reduce the suffering you are going through?

AqualinaXYZ:



Tinubu is the most useless human alive

In other words, the president of your country is the most useless human being.

It's okay.

all these increase in vat, increase in revenue etc has translated into what benefit for the masses?

James91:
Tax collector, that this president knows how to do best, he did it in Lagos, now doing it in country, tell me how this tax takes affect the citizens, only the Big Men enjoys his presidency, nothing for the poor.

He did it Lagos and where is Lagos today among the 35 remaining states in Nigeria

To a lame man, high taxation should drive away businesses and investors But are investors running out of lagos or trooping to Lagos.

Taxation is bad only from an emotional POV

kettykin:
Increase in VAT when the GDP has moved from number 1 to number 4 in Africa.

When will Nigerians think out of the box

Dont mind them. There is nothing to celebrate here. Under Tinubu price of PMS went from N147/litre to N600/litre and price of dollar from N630 to N1300. The ripple efect went round and all prices have become at least double. Even with ZERO growth the VAT should at least double. What this new report means is that the economy is actually in RECESSION (negative growth). What is there to celebrate in this? Simple Math and simple common sense is lost when people rule by propaganda.

Yankee101:
It’s just nominal paper figures not real growth


Dollar under buhari was 400 plus, and 1k plus under Tinubu

Our source of revenue is oil and imports which are all dollar denominated. By the time you convert to a devalued naira it should increase of course. That’s not growth, that’s devaluation

It is recession.

mannobi:
You can't take that fact away from Tinubu. He knows how to generate money.

By killing the citizens?

Devaluation in simple english means that you REMOvE value.

Value Added Tax means the tax that is derived when value is added.

Value has been grossly removed through devaluation leading to sharp increase in prices.

You tax the new prices and get a bigger nominal tax.

That is not growth.

It is like one big club in London adding 1 behind their zero and claiming they have won by 5-10