₦airaland Forum

Petah:
To be honest, I am more educated about the tax laws from what I have read on this thread. I make around 41k in a month. Now I do some side hustle, that makes it close to 75k a month. Now how will I be charged to pay tax? Is it on the side hustle or just salary. Your kind explanation will be helpful.
@everyone.

ibsadiq:
Just to confirm my understanding: with the federal minimum wage now at ₦70,000 monthly (₦840,000 annually), doesn’t this effectively mean that almost every formally employed individual becomes taxable, since the PAYE exemption only applies to incomes of ₦800,000 or less?
I understand the tax may be minimal at that level due to progressive bands and reliefs, but in principle, minimum-wage earners would no longer fall under the full exemption. Happy to be corrected if I’m missing something.

jmoore:
Minimum wage is how much annually?

FreeIgboho:
I eat the standard 510 gram box twice, at most 3 times.
510÷3=170

Lanretoye:
he will scatter their coalition before 2027,he will still defect to APP cos he can’t win even ameachi at the primaries…all these ones crying online don’t even know how party election primaries are being conducted,all the noise of osinbajo’s supporters,how many votes did they get from the delegates

GEJDHERO:
Gumi don dey MAD ni? Wetin concern with Pitobi defection

FreeIgboho:
You'd be surprised. 35 grams is nothing to.me

stokfrick:
Oh I see, I didn't even look at your name before I started wasting my time responding to you. I am not surprised you're supporting this, its you helinues

zeyt:
At the end of the day the money doesnt matter. This is what happens when you have ppl with zero integrity in position of power. Whatever the case may be Nigerians arent here. Subsidy removal and the money saved, reckless borrowing and now evil taxes. This is how Tunibu is spending it with no accountablity and transparancy. Their is day of reckoning.

stokfrick:
Is that money, 70k even enough for a normal human being per month to live a life of even management, not to talk of taxing it.
A lot of you here supporting this tax shitt have no conscience left

DoTheNeedful:
You are just being overly critical. A minimum wage earner earns 840,000 in a year. Based on the new tax law, the 40,000 on top of the 800,000 is taxed at 15%, which means that a minimum wage earner pay 6,000 naira per year (500 per month) in tax. A minimum wage earner pays more than this in the old tax regime.

Many of you that criticize do so either maliciously or due to ignorance.

Our tax collection rate in Nigeria is one of the poorest even in Africa. The understanding of tax by Nigerians terrible. Many of you need to get it into your heads that tax payment is vital for any society to thrive.

Mjshexy:
I see this as an act of terrorism against Nigerians by this insensitive government who have destroyed the country beyond recognition and do not know how Nigerians have been struggling to survive, they now want to steal the little Nigerians are surviving with to furnish their stupendous lifestyles. I keep saying it, Nigerians are extremely tolerant, many nations would have risen against this extreme wickedness from these insensitive govt

stokfrick:
I see what you're trying to do. It's either your are misinformed or you are an APC stooge.
Oga stop deceiving people, it is 800k per year which is 67k per month approximately.
Anything above that government will slash your money

franchasng:
Young man, this is not about dragging politicians online, this is how we can hold Nigerian leaders especially Presidents accountable for a better Nigeria.


If it becomes institutionalized that past Presidents of Nigeria cannot be probed or jailed for their crimes and failures in office, future Presidents will capitalize on it to perpetuate more crimes in office knowing they would not be punished after their tenure and even those serving under them will be hiding under President authorized it to evade justice after their regime.



We need to send some strong message to future Presidents of Nigeria and one way to do that is to start from now.



I swear, if I become the next President after Tinubu, if I no jail Tinubu, call me ba$tard for real!



We need to take some radical decisions to change Nigeria forcefully because allowing Presidents to go unpunished after their failed regime will continue to ruin Nigeria

zeyt:
There is rumour going on that a sitting governor gets 250b Naira for defecfecting to APC while a Federal legislator will get 50b Naira rewards. If its true, is it not dangerious trend for our democracy.

1Alex:
a whole you dey post this? 800k is per annum. Now divide 800k by 12 months and see that it is only for people who earn ₦67k and below, a month.

kaltonga:
Surprisingly, no one from the west is talking about this if it's a voice from the East by now the entire internet will be on flames

advanceDNA:
Sir.... stop misrepresenting facts ....
The 800k is per annum...which is just around 66k per month....
Minimum wage is 70k....even cleaner struggling to survive is not tax exempt....

Grandma tha the son sends 80k that's no longer enough in the economy is not even tax exempt

After destroying the economy and purchasing power of the naira ...APC led govt should know that classifying tax exempt at 66k per month is a deceptive assessment to make sure no one is technically tax exempt....

kenchop:
WHICH MEANS NO MORE DEDUCTIONS FROM THE SALARIES OF THOSE EARNING BELOW 800K, SO TECHNICALLY THEIR TAKE HOME PAY SHOULD BE MORE NOW AS THEIR PAY IS NO LONGER TAXED.

SO MY QUESTION NOW TO THE GOVERNMENT IS THIS, "WHAT PERCENTAGE OF THE PEOPLE EARN ABOVE 800K IN THE COUNTRY?

FreeIgboho:
See mine below. With ovaltine with coconut milk