₦airaland Forum

Omalicious1:
The person that charged you 7.5% tax, did a number on you. It is expected because we are our problem because most of the time we derieve joy in exploiting one another. Doesn't it amaze you that although the price of petrol drops, the cost of transportation hasn't dropped?

I don't think u know what u are saying...did a number on u.

Go out and see the latest and not stay ur house to say what u don't know..

The luckiest Generation.

They are still paying him his UK pension...depending on the front he fought for.

OmoOshodi:
One mumu man spent hours telling me how Tinubu is the best thing to happen to Nigeria....how APC must win 2027 election.....when he finished he said "my brother I need u to assist me with anything...he's broke and nothing to eat at home with his wife and children....."

I just smiled inside and replied him..."baba me self no hold o....make God help us"...


Funny enough na poor people dey defend all this bad leaders for greedy reasons best known to them

Aside ur family members and work colleagues,hold ur money...Nigerians don't deserve pity,especially those evil supporters of bad leadership in the country.

J

Omalicious1:
This is why I keep saying that we are our problem. Those not even affected by the Tax are now the one causing havoc on mostly those exempted from paying tax. Most Nigerians don't read, comprehend and are highly gullible. Smh

List out those who the tax didn't affect.

This shows u lack the required education.

U don't know what ripple effects ot chain reactions means?

If i am a pharmacist and I don't pay tax,but I just bought a laptop for my son and I was charged above my budget as planned becuse 7.5% tax.

I will come back to my business to get that money.

So,learn the nitty gritty of business.

J

Omalicious1:
This is why I keep saying that we are our problem. Those not even affected by the Tax are now the one causing havoc on mostly those exempted from paying tax. Most Nigerians don't read, comprehend and are highly gullible. Smh

List out those who the tax didn't affect.

This shows u lack the required education.

U don't know what ripple effects means?

If i am a pharmacist and I don't pay tax,but I just bought a laptop for my son and I was charged above my budget as planned because of 7.5% tax.

I will come back to my business to get that money.

So,learn the nitty gritty of business.

WhizdomXX:
1m or 1.7m?

320k to 1million self contain.

400k to 1.7m one bedroom.

We considered two things,the tax and the going rent around that area.

olaiya2007:
Nigerians just love exploitation, looking for any simple avenue to take undue advantage of others

While u sit comfortably to support Tinubu.

Oga calm down...the sellers would pay tax for goods they sell in their shops.

And it is called VAT about 7.5% of laptops u buy, who is to blame then if not govt.

I thought they say tax will not affect the poor.

141million people would become poor in this country u guys think is a joke.

The tax burden of the entire world has never been borne by the rich,it is always the poor that would suffer it.

As long as the poor will always support bad govt,this is what awaits them all.

I rented my brothers house yesterday,self contain for #1,000,000.

1bedroom for #1.7million before tax. We built the house,no govt effort from the start to finish and u come up with tax,then we increase the rent to pay u the tax no wahala. We bought our transformer,drill borehole and name it.


Who will suffer,the very poor who feels the govt is right.

Experience is a dirty teacher...

He has reach a point of regret. Abiola is still suffering his own while still in the grave.

Spend less...quit about emotional spending. Problems no dey finish.

Avoid sending Dick and Harry money...u are not a father christmas.

Avoiding betting,this can ruin u faster than anything especially when u are trying to recover all ur loses from Jan to date.
Remember ur children school fees and don't also forget ur aged parents for those who still have,they are ur direct priorities.

House rent,ur landlord is also waiting for u,some with increments...so avoid heavy spending this Dec to enable u a smooth ride for next year.

All of the above can cause u more financial burden if u don't smart up now.

80% of Nigerians are poor due to unenterprising locations.

When I was living in Lagos in those days,I thought I was fine not until I left and decided to try Abuja,then I knew many guys are wasting away their futures in that state.

There are many unhealthy locations in that state that traps u for life. U may even think u are fine until u leave there and see life beyond that ur present locations.

No doubt Lagos is a rich state but location and environment can destroy one faster than he thinks.

MONEY247:
Any advice on investment Areas sir

For me, what i do is what i advice people to go into.

E.g mutual funds with ARM.
Buy land and allow it to appreciate and resell with 2 to 3yrs.
Lend money for interest to business men only,i have my licence.
And finally,keep 5% of all ur money networth in one acct,that serves as ur emergency fund.

DeLaRue:
The new tax laws actually protect the poor.

Failed opposition thinking they can instigate young people to go out and protest while they keep their own children behind 12-feet high fences in plum Estates in Abuja, Lagos, Enugu, Kano, Port Harcourt etc

Meanwhile, in the US, UK, and Dubai where they send their girlfriends and hide their 2nd and 3rd wives, they pay very high taxes, but they want poor Nigerians to fight for them not to pay taxes here.

I kuku trust Mr Tinubu. No going back, under any circumstances.

Why are u saying what u don't know.

Are the poor men and women in the country producing anything of value?

If u tax the middle class like me,I will increase the rate I charge starting from January and the poor u think they are protecting would pay dearly and sweatly for it.

In taxation,it is always the poor that pays for it and it is usually in a bad way. U guys should stop following people sheepishly and sit down and analyse this tax thing.
I read taxation and I can say for sure,that the poor would hear shege next year...this tax law is targeting most middle class in Nigeria and it would hit hard on the poor people of this country.

U guys just talk without any knowledge of taxation.

Start exactly at 20,commence living very low. Save and invest like ur life depends on it.

Your first capital is crucial to ur survival. If u waste it,u have doomed your life.

Jettison any relationship that may cost u money especially if u are from poor background like me.

Stay away from friends who are into yahoo,gay,gambling,fine boy life without work and any kind of criminalities.

Don't rush into marriage without adequate money...u might be creating for yourself,a generational but pitiable poverty.

Invest like mad before u turn 30 so that,u can save ur 40s and 50s. That is the current life I am living now.

All the best folks.

Fake news.

Part two.

This ur part two na fight go end am.

Hospital straight or u visit a lab for test.

So,Gumi is now the owner of Nigeria.

Terrorist himself.

HeatSeeker:
There are some departments within banks commissioned to spy on others. They gather information that could be used as red flags when assessing employees/colleagues. Such WhatsApp groups would be attractive to them and anyone that joins and starts "sharing" will only have themselves to blame.

Oga stop twisting things.

Meerahbel:
I’m excited to share that I’ll be starting a new channel specifically for bankers — a space where we can discuss everything related to banking, share insights, and connect with fellow professionals in the industry.

If you’re interested in joining, kindly send me an email at shaayodic@gmail.com and I’ll share the invite link with you.

Looking forward to building a great community together! 💼💬

Include both ex bankers. Our experience can't be underestimated.

manuelkel:
Banking sector is the number one.
I remember sometimes 2013 when my elder sis was working with the then Sky bank(current Polaris bank), she'd tell us about sexcapades going on at that sector.
Everybody dey Bleep everybody for there.

I was a banker and my wife is a banker too...I am talking from experience.

I know some people might say bankers.


That is a pure lie...there is even no time within the banking space to date and that is not to say that it does not happen but few. The target can be killing,the tensions is another bigger factor here.

E hard sha.

If u enter federal ministry work,u go know say na ashawo full there...NNPC na him worse pass.

Denalarian:
This is why their economy getting better and better.. Nigeria can never get it right with tribalism

Nigeria is not govern like a country.

If u make good money every year,ensure that u buy one piece of land yearly and see that as ur retirement benefits.

Are u considering being stabbed again ?

This generation is indeed the only unserious generation.

Wetin I never see.

See the reality is that,they are using Propaganda to deceive the people.

Any economy that is working doesn't need adverts...people will feel it,say it and even praise it but the reality is just the opposite as it stands now.

Na oluwole economy them dey force on people.

Aside the tax u are paying On Treasury bill and fixed deposits,u are not bound to pay additional tax.

Read below for better understanding.



Home Financial Literacy
How Nigeria’s 2026 Tax Reforms affect your income, business and Crypto
Kalu Aja by Kalu Aja September 21, 2025

Company tax
Nigeria has passed a comprehensive review of taxes, which will take effect on January 1st 2026. In this post, I will highlight a few changes on the personal side, the implications and how you can get tax relief.

Just so you know, this information is provided for educational purposes only and should not be considered tax or financial advice. Please consult your tax or professional adviser.

If you earn personal income below N800,000, you pay zero income tax. Your company has a turnover below N50m, and you pay zero corporate income tax. The significant change under this tax law is that you have to invest or make certain purchases to avoid taxes.

Tax avoidance is legal, tax evasion is illegal
Under current law (until December 31, 2025), you receive 20% of your gross income, plus a N200k or 1% of your gross income, whichever is higher, as tax relief automatically. The new law does not make this automatic; instead, you must make an investment to claim a deduction.

Invest in what?
Open and contribute to a Retirement Savings Account
Buy life insurance for you and your spouse
Open and contribute to the National Health Insurance Scheme
Open and contribute to the national housing fund
 ⁠If you pay rent, you get 20% relief on rent paid, subject to a cap of N500,000
Scenarios
I am currently unemployed, but my uncle in the US sends me $100, which is paid into my Nigerian bank account.

News continues after this ad

Do I pay income tax? On N100,000 paid into my account? No, below N800,000, but I pay other taxes like VAT, electronic transfer
I buy BTC with my N100,000, sell for N200,000, make N100,000 profit, do I pay income tax on N100,000? No, below N800,000, but I pay other taxes like VAT, electronic transfer
I buy BTC with my N100,000, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? Yes, income above N800,000, plus  I pay other taxes like VAT, and electronic transfer
 ⁠I buy BTC with my N100,000, but under my company name, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? No, profit made under the company name, but I pay other taxes like VAT, and electronic transfer.
Does my business pay tax on N1,900,000 profit? No, turnover less than N50m, but the company pays other taxes like VAT, electronic transfer
Do you have a registered company?
You are taxed on the income you earn, not on the assets you own.

Let’s also review investment vehicles.

Crypto Assets: If you own 1 BTC, you pay no tax. If you sell 1 BTC at a loss, no tax is due. If you sell 1 BTC at a profit, you pay tax. Staking BTC? Yes, income from staking is taxable.


Bank Accounts: if you have N1m in your current account earning no interest, there is no taxable income. What if that N1m is moved to your savings account, and you earn 10%? Then you pay tax on the 10% interest earned, not on the N1m.

What if someone transfers cash to your account? This creates a transaction record. Will you pay tax? If the cash moves into your interest-bearing account, yes, on the interest earned. I believe your bank will report the interest earned to NRS.

Are all transfers to and from your account subject to tax? Tax is not solely assessed on your bank balance; authorities will review your transactions to identify taxable activities. Your transactions may be used as a basis for an assessment based on best judgment. Translation? Please don’t deposit non-business checks into your account.

Bonds? FGN bonds are tax-exempt, meaning interest earned is tax-free.

Insurance? Premium payments are tax-free when you purchase a policy and pay premiums.

Retirement savings account? Contributions are tax-free, growth is tax-free, and withdrawals are also tax-free.

Rent? You are entitled to a relief of 20% of the tax paid, subject to a maximum of N500,000.

Stocks? Holding? No tax.Selling at a profit? Pay tax on the profit.

What if it’s a gift or inheritance? Generally, no tax.

What should you do next?
Get tax advice. Gather your friends, contribute money, and hire a tax professional to speak to your “club” and pay the fees. Hire an accountant

Businesspersons should keep receipts and documentation, scan them, and file them. Use more cards and fewer cash transactions to create an audit trail. Hire an accountant.

Remember, it is the income generated that is taxable, not the asset itself.

Leave that ur comfort place and u will be well my brother.