OasisX:
New Tax Reform
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 legally
Tax avoidance is legal, tax evasion is illegal
Under current law (until December 31st 2025), you get 20% of gross income plus a N200k or 1% of gross, whichever is higher, as tax relief automatically; the new law does not make this automatic, you have to invest to claim a deduction
Invest in what?
1. Open and contribute to a Retirement Savings Account
2. Buy life insurance for you and your spouse
3. Open and contribute to the National Health Insurance Scheme
4. Open and contribute to the national housing fund
5. If you pay rent, you get 20% relief on rent paid, subject to a cap of N500,000
Scenario
So I am unemployed, my uncle in the US sends me $100 paid to my Nigerian bank current account
1. 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
2. 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
3. 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
4. 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
5. 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?
What should you do next? Get tax advice.
6. Gather your friends, contribute money, and hire a tax professional to speak to your “club” and pay the fees.
7. Hire an accountant
Kalu Aja So that means if I'm celebrating my birthday and someone TF me 1million naira as birthday gift, that means I must pay tax from my birthday gift too?  
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Cashylyx:
NEW BEGINNINGS By Tolulope Tejumola ilori
1, 2 Corinthians 5:17
Therefore, if anyone is in Christ, he is a new creation. The old has passed away; behold, the new has come.
2, Jeremiah 29:11
For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope.
3, Isaiah 43:18-19
“Remember not the former things, nor consider the things of old. Behold, I am doing a new thing; now it springs forth, do you not perceive it? I will make a way in the wilderness and rivers in the desert.
4, Isaiah 43:19
Behold, I am doing a new thing; now it springs forth, do you not perceive it? I will make a way in the wilderness and rivers in the desert.
5, Ephesians 4:22-24
To put off your old self, which belongs to your former manner of life and is corrupt through deceitful desires, and to be renewed in the spirit of your minds, and to put on the new self, created after the likeness of God in true righteousness and holiness.
6, Lamentations 3:22-24
The steadfast love of the Lord never ceases; his mercies never come to an end; they are new every morning; great is your faithfulness. “The Lord is my portion,” says my soul, “therefore I will hope in him.”
7, Isaiah 40:31
But they who wait for the Lord shall renew their strength; they shall mount up with wings like eagles; they shall run and not be weary; they shall walk and not faint.
8, 1 John 4:18
There is no fear in love, but perfect love casts out fear. For fear has to do with punishment, and whoever fears has not been perfected in love.
9, 1 Peter 1:3
Blessed be the God and Father of our Lord Jesus Christ! According to his great mercy, he has caused us to be born again to a living hope through the resurrection of Jesus Christ from the dead,
10, Job 8:7
And though your beginning was small, your latter days will be very great.
11, Psalm 121:1-8
A Song of Ascents. I lift up my eyes to the hills. From where does my help come? My help comes from the Lord, who made heaven and earth. He will not let your foot be moved; he who keeps you will not slumber. Behold, he who keeps Israel will neither slumber nor sleep. The Lord is your keeper; the Lord is your shade on your right hand. ...
12, Luke 7:47
Therefore I tell you, her sins, which are many, are forgiven—for she loved much. But he who is forgiven little, loves little.”
13, Deuteronomy 28:1-68
“And if you faithfully obey the voice of the Lord your God, being careful to do all his commandments that I command you today, the Lord your God will set you high above all the nations of the earth. And all these blessings shall come upon you and overtake you, if you obey the voice of the Lord your God. Blessed shall you be in the city, and blessed shall you be in the field. Blessed shall be the fruit of your womb and the fruit of your ground and the fruit of your cattle, the increase of your herds and the young of your flock. Blessed shall be your basket and your kneading bowl. ...
14, Philippians 3:13-14
Brothers, I do not consider that I have made it my own. But one thing I do: forgetting what lies behind and straining forward to what lies ahead, I press on toward the goal for the prize of the upward call of God in Christ Jesus.
15, Genesis 1:1
In the beginning, God created the heavens and the earth.
16, Ezekiel 36:26
And I will give you a new heart, and a new spirit I will put within you. And I will remove the heart of stone from your flesh and give you a heart of flesh.
17, Revelation 21:5
And he who was seated on the throne said, “Behold, I am making all things new.” Also he said, “Write this down, for these words are trustworthy and true.”
18, Ecclesiastes 3:11
He has made everything beautiful in its time. Also, he has put eternity into man's heart, yet so that he cannot find out what God has done from the beginning to the end.
19, Isaiah 65:17
“For behold, I create new heavens and a new earth, and the former things shall not be remembered or come into mind.
20, Revelation 21:4
He will wipe away every tear from their eyes, and death shall be no more, neither shall there be mourning, nor crying, nor pain anymore, for the former things have passed away.”
21, Matthew 7:7
“Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you.
22, Acts 3:19
Repent therefore, and turn back, that your sins may be blotted out,
23, Proverbs 3:5-6
Trust in the Lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths.
24, John 3:16
“For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life.
25, Lamentations 3:22-23
The steadfast love of the Lord never ceases; his mercies never come to an end; they are new every morning; great is your faithfulness.
26, Ezekiel 11:19
And I will give them one heart, and a new spirit I will put within them. I will remove the heart of stone from their flesh and give them a heart of flesh,
27, John 1:1-14
In the beginning was the Word, and the Word was with God, and the Word was God. He was in the beginning with God. All things were made through him, and without him was not any thing made that was made. In him was life, and the life was the light of men. The light shines in the darkness, and the darkness has not overcome it. ...
28, Malachi 4:2
But for you who fear my name, the sun of righteousness shall rise with healing in its wings. You shall go out leaping like calves from the stall.
29, Ezekiel 11:18-19
And when they come there, they will remove from it all its detestable things and all its abominations. And I will give them one heart, and a new spirit I will put within them. I will remove the heart of stone from their flesh and give them a heart of flesh,
30, Colossians 3:9-10
Do not lie to one another, seeing that you have put off the old self with its practices and have put on the new self, which is being renewed in knowledge after the image of its creator.
31, Isaiah 58:12
And your ancient ruins shall be rebuilt; you shall raise up the foundations of many generations; you shall be called the repairer of the breach, the restorer of streets to dwell in.
32, 2 Chronicles 7:14
If my people who are called by my name humble themselves, and pray and seek my face and turn from their wicked ways, then I will hear from heaven and will forgive their sin and heal their land.
33, Romans 12:2
Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect.
34, John 1:1
In the beginning was the Word, and the Word was with God, and the Word was God.
35, Philippians 4:6
Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God.
36, Psalm 102:25
Of old you laid the foundation of the earth, and the heavens are the work of your hands.
37, Romans 8:31
What then shall we say to these things? If God is for us, who can be against us?
38, Lamentations 3:22
The steadfast love of the Lord never ceases; his mercies never come to an end;
39, Philippians 4:6-7
Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and your minds in Christ Jesus.
40, John 3:16-17
“For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life. For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him.
41, Revelation 1:1-20
The revelation of Jesus Christ, which God gave him to show to his servants the things that must soon take place. He made it known by sending his angel to his servant John, who bore witness to the word of God and to the testimony of Jesus Christ, even to all that he saw. Blessed is the one who reads aloud the words of this prophecy, and blessed are those who hear, and who keep what is written in it, for the time is near. John to the seven churches that are in Asia: Grace to you and peace from him who is and who was and who is to come, and from the seven spirits who are before his throne, and from Jesus Christ the faithful witness, the firstborn of the dead, and the ruler of kings on earth. To him who loves us and has freed us from our sins by his blood ...
42, Psalm 40:3
He put a new song in my mouth, a song of praise to our God. Many will see and fear, and put their trust in the Lord.
43, John 3:3
Jesus answered him, “Truly, truly, I say to you, unless one is born again he cannot see the kingdom of God.”
44, John 3:1-36
Now there was a man of the Pharisees named Nicodemus, a ruler of the Jews. This man came to Jesus by night and said to him, “Rabbi, we know that you are a teacher come from God, for no one can do these signs that you do unless God is with him.” Jesus answered him, “Truly, truly, I say to you, unless one is born again he cannot see the kingdom of God.” Nicodemus said to him, “How can a man be born when he is old? Can he enter a second time into his mother's womb and be born?” Jesus answered, “Truly, truly, I say to you, unless one is born of water and the Spirit, he cannot enter the kingdom of God. ...
45, Revelation 21:4-5
He will wipe away every tear from their eyes, and death shall be no more, neither shall there be mourning, nor crying, nor pain anymore, for the former things have passed away.” And he who was seated on the throne said, “Behold, I am making all things new.” Also he said, “Write this down, for these words are trustworthy and true.”
46, Psalm 23:1-6
A Psalm of David. The Lord is my shepherd; I shall not want. He makes me lie down in green pastures. He leads me beside still waters. He restores my soul. He leads me in paths of righteousness for his name's sake. Even though I walk through the valley of the shadow of death, I will fear no evil, for you are with me; your rod and your staff, they comfort me. You prepare a table before me in the presence of my enemies; you anoint my head with oil; my cup overflows. ...
47, Genesis 1:1-31
In the beginning, God created the heavens and the earth. The earth was without form and void, and darkness was over the face of the deep. And the Spirit of God was hovering over the face of the waters. And God said, “Let there be light,” and there was light. And God saw that the light was good. And God separated the light from the darkness. God called the light Day, and the darkness he called Night. And there was evening and there was morning, the first day. ...
48, Romans 6:3-4
Do you not know that all of us who have been baptized into Christ Jesus were baptized into his death? We were buried therefore with him by baptism into death, in order that, just as Christ was raised from the dead by the glory of the Father, we too might walk in newness of life.
49, 1 John 1:9
If we confess our sins, he is faithful and just to forgive us our sins and to cleanse us from all unrighteousness.
50, Psalm 73:25-26
Whom have I in heaven but you? And there is nothing on earth that I desire besides you. My flesh and my heart may fail, but God is the strength of my heart and my portion forever.
51, Genesis 1:9
And God said, “Let the waters under the heavens be gathered together into one place, and let the dry land appear.” And it was so.
52, Hebrews 4:16
Let us then with confidence draw near to the throne of grace, that we may receive mercy and find grace to help in time of need.
53, Psalm 65:11
You crown the year with your bounty; your wagon tracks overflow with abundance.
54, Hebrews 11:1-40
Now faith is the assurance of things hoped for, the conviction of things not seen. For by it the people of old received their commendation. By faith we understand that the universe was created by the word of God, so that what is seen was not made out of things that are visible. By faith Abel offered to God a more acceptable sacrifice than Cain, through which he was commended as righteous, God commending him by accepting his gifts. And through his faith, though he died, he still speaks. By faith Enoch was taken up so that he should not see death, and he was not found, because God had taken him. Now before he was taken he was commended as having pleased God. ...
55, Psalm 90:12
So teach us to number our days that we may get a heart of wisdom.
56, Hebrews 13:5
Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.”
57, Hebrews 12:1-2
Therefore, since we are surrounded by so great a cloud of witnesses, let us also lay aside every weight, and sin which clings so closely, and let us run with endurance the race that is set before us, looking to Jesus, the founder and perfecter of our faith, who for the joy that was set before him endured the cross, despising the shame, and is seated at the right hand of the throne of God.
58, Romans 10:9-10
Because, if you confess with your mouth that Jesus is Lord and believe in your heart that God raised him from the dead, you will be saved. For with the heart one believes and is justified, and with the mouth one confesses and is saved.
59, Psalm 62:1-2
To the choirmaster: according to Jeduthun. A Psalm of David. For God alone my soul waits in silence; from him comes my salvation. He alone is my rock and my salvation, my fortress; I shall not be greatly shaken.
60, Genesis 12:1-9
Now the Lord said to Abram, “Go from your country and your kindred and your father's house to the land that I will show you. And I will make of you a great nation, and I will bless you and make your name great, so that you will be a blessing. I will bless those who bless you, and him who dishonors you I will curse, and in you all the families of the earth shall be blessed.” So Abram went, as the Lord had told him, and Lot went with him. Abram was seventy-five years old when he departed from Haran. And Abram took Sarai his wife, and Lot his brother's son, and all their possessions that they had gathered, and the people that they had acquired in Haran, and they set out to go to the land of Canaan. When they came to the land of Canaan, ...
61, Proverbs 16:9
The heart of man plans his way, but the Lord establishes his steps.
62, 2 Corinthians 5:20-21
Therefore, we are ambassadors for Christ, God making his appeal through us. We implore you on behalf of Christ, be reconciled to God. For our sake he made him to be sin who knew no sin, so that in him we might become the righteousness of God.
63, John 10:10
The thief comes only to steal and kill and destroy. I came that they may have life and have it abundantly.
64, Philippians 4:13
I can do all things through him who strengthens me.
65, Romans 8:1
There is therefore now no condemnation for those who are in Christ Jesus.
66, Isaiah 41:13
For I, the Lord your God, hold your right hand; it is I who say to you, “Fear not, I am the one who helps you.”
67, Psalm 91:1-16
He who dwells in the shelter of the Most High will abide in the shadow of the Almighty. I will say to the Lord, “My refuge and my fortress, my God, in whom I trust.” For he will deliver you from the snare of the fowler and from the deadly pestilence. He will cover you with his pinions, and under his wings you will find refuge; his faithfulness is a shield and buckler. You will not fear the terror of the night, nor the arrow that flies by day, ...
68, Ezra 3:1-13
When the seventh month came, and the children of Israel were in the towns, the people gathered as one man to Jerusalem. Then arose Jeshua the son of Jozadak, with his fellow priests, and Zerubbabel the son of Shealtiel with his kinsmen, and they built the altar of the God of Israel, to offer burnt offerings on it, as it is written in the Law of Moses the man of God. They set the altar in its place, for fear was on them because of the peoples of the lands, and they offered burnt offerings on it to the Lord, burnt offerings morning and evening. And they kept the Feast of Booths, as it is written, and offered the daily burnt offerings by number according to the rule, as each day required, and after that the regular burnt offerings, the offerings at the new moon and at all the appointed feasts of the Lord, and the offerings of everyone who made a freewill offering to the Lord. ...
69, Haggai 2:9
The latter glory of this house shall be greater than the former, says the Lord of hosts. And in this place I will give peace, declares the Lord of hosts.’”
70, Isaiah 41:4
Who has performed and done this, calling the generations from the beginning? I, the Lord, the first, and with the last; I am he.
71, Genesis 1:12
The earth brought forth vegetation, plants yielding seed according to their own kinds, and trees bearing fruit in which is their seed, each according to its kind. And God saw that it was good.
72, Revelation 1:1
The revelation of Jesus Christ, which God gave him to show to his servants the things that must soon take place. He made it known by sending his angel to his servant John,
73, Galatians 6:15
For neither circumcision counts for anything, nor uncircumcision, but a new creation.
74, Colossians 3:10
And have put on the new self, which is being renewed in knowledge after the image of its creator.
75, Hebrews 11:3
By faith we understand that the universe was created by the word of God, so that what is seen was not made out of things that are visible.
76, Isaiah 60:20
Your sun shall no more go down, nor your moon withdraw itself; for the Lord will be your everlasting light, and your days of mourning shall be ended.
77, 2 Samuel 12:13
David said to Nathan, “I have sinned against the Lord.” And Nathan said to David, “The Lord also has put away your sin; you shall not die.
78, Genesis 1:2
The earth was without form and void, and darkness was over the face of the deep. And the Spirit of God was hovering over the face of the waters.
79, Esther 5:1-14
On the third day Esther put on her royal robes and stood in the inner court of the king's palace, in front of the king's quarters, while the king was sitting on his royal throne inside the throne room opposite the entrance to the palace. And when the king saw Queen Esther standing in the court, she won favor in his sight, and he held out to Esther the golden scepter that was in his hand. Then Esther approached and touched the tip of the scepter. And the king said to her, “What is it, Queen Esther? What is your request? It shall be given you, even to the half of my kingdom.” And Esther said, “If it please the king, let the king and Haman come today to a feast that I have prepared for the king.” Then the king said, “Bring Haman quickly, so that we may do as Esther has asked.” So the king and Haman came to the feast that Esther had prepared. ...
80, Isaiah 43:18
“Remember not the former things, nor consider the things of old.
If you have been healed, type AMEN Amen 🙏 Thr life of a Christian is from Glory to Glory Testimonies upon Testimonies Grace heap upon Grace |
TV/Movies › Re: BBNaija 2025 (Season 10) Live Update Thread by kodded(m): 9:27pm On Oct 05, 2025
