₦airaland Forum

I DON'T want to hear anything about Nigeria from the United HATES!

They are okay with the GENOCIDE and TERRORISM committed by Netanyahu.

But want to intervene in the ALLEGED genocides of Christians and Igbos in Nigeria.

Fucccxcccc.ccccxccck them!

mikeapollo:
People must be mad to give N47m to a govt. out of N200m gain.
This govt thinks we have saw dust in our brains?
Imagine the reckless audacity to even propose and pass such law! And that Taiwo Oyedele is still going round promoting this law?

It's absolute MADNESS!

Making that kind of Capital Gains would require taking RISKS that could potentially RUIN a person. Or having the patience of a small god.

Now, if an employee who has WORKED all his life to master his craft and advance in his careers and works maybe 50/60 hours per week and is AWAY from his family most of the time makes #200M, he'll pay something in that neighborhood too as PIT after deducting NHIS, NHS and allowable rent.

The same thing applies to Sole Proprietors who NEARLY stressed themselves to death to make that kind of money in profit.

As for Oyedele, he's a Pastor.
They are SMOOTH-TALKERS who know how to tell people what they want to hear.

He keeps talking about the #800k exemption and the exemption of small and nano businesses BUT immediately above those are people and entities who will be TAXED to death.

KarlTom:
You're confusing turnover and profit wrt Corporate entities.

₦200m turnover will definitely not translate to ₦60m tax...

It seems like you MISUNDERSTOOD that post.

I NEVER mentioned Turnover.
I was talking about the GAIN. Or more specifically, the Capital Gains.

Capital Gains Tax is taxed on the GAINS aspect. Not the Turnover.
My post took that into account.

And it's still FACTUALLY correct.

If an INDIVIDUAL makes Capital Gains of #200M, his tax liability (CGT) would be #47.93M.

If a (large) COMPANY makes Capital Gains of the SAME #200M, its tax liability (CGT) would be #60M. That is 30% (CIT rate) of #200M.

Under the Old Tax Laws, BOTH of them would have paid #20M, I.e a flat rate of 10%. Under the NTA 2025, they'd be charged to tax based on PIT and CIT rates.

This is a WITCH-HUNT!

Instead of addressing the points raised by Sowore about how Wike and his wife got the money to buy MULTIMILLION DOLLAR HOMES and sign them over to their kids for just $100, they are out here WHATABOUTISM-ing like nobody's business.

That is why Uche Nnaji is the ULTIMATE fuccccccccxk-up guy!

Tinubu's government is filled with people who have MORE skeletons in their cupboards than a GRAVEYARD.

Hell, there are serious questions about the IDENTITY of Tinubu himself.

And the Chairman of Tinubu's party is a DOLLAR-THIEVING menace.

Tinubu's son has a company getting TRILLIONS of Naira in government contracts.

Yet NONE of them are bothered.

Ordinary certificate SCANDAL, Nnaji resigned.

In fact, he should be INVESTIGATED.
He might NOT be a Nigerian.

Who knows?
If he lied about Certificates, he might be lying about his Nationality.


No TRUE Nigerian politician would ever resign because of ORDINARY Certificate scandal.

He could have easily FORCED the senate to re-confirm him using his Secondary School Certificates.

mikeapollo:
I was even thinking that the first threshold of N150m would be exempted, than the excess would be taxed

NO!

The #150M and #10M are NOT thresholds for Tax Exemptions. They are thresholds that determine whether a Tax Event has occurred.

That is whether you have done enough transactions that TRIGGER an obligation to pay tax.

It means that if the AGGREGATE/TOTAL Turnover in your portfolio is above #150M, you MAY be liable to pay tax.

If the NET Gain in your Portfolio (Total Gain in ALL transactions in your portfolio MINUS Total Losses in ALL transactions in your portfolio) is MORE than #10M, you will DEFINITELY pay CGT.

mikeapollo:
For example, what about unemployed/unengaged persons who make profits of say N200m-N1billion in the NGX? What CGT rate would be applied to them?

One of the major goals of the NTA 2025 is to harmonise several taxes.

For the purposes of taxation, the NTA 2025 treats CGT EXACTLY like Income Tax.

So if an unemployed individual makes profits of #200M in Capital Gains on the NSE, he'll be taxed like someone who works a high-paying job and earns a salary of #200M.

First 800k would be taxed at 0%
Next #2.2M taxed at 15%
Next #9M taxed at 18%
Next #13M taxed at 21%
Next #25M taxed at 23%

Remaining #150M would be taxed at 25%

Instead of getting #20M, the government would get #47.93M from YOUR money.

That's MORE than a 100% increase in Tax Liability!

Yet Oyedele is out there CAMPAIGNING for the New Reforms and touting its "simplicity" as if people are happy to take simplicity in exchange for being FLEECED to death.

It's even WORSE for Corporate entities.

Instead of paying #20M based on the Old Laws, they'd pay #60M according to the NTA 2025. Or #50M if Tinubu eventually reduces CIT to 25%.

People will eventually RUN away from NGX.

EVERY woman wants that guy on the left.
But with the BRAINS of Albert Einstein.
The BANK ACCOUNT of Elon Musk.
And the POWER of Vladimir Putin.

Even so, they'd still cheat on him with the guy in the middle just out of curiosity.

Finally, 99.99% of women only see TWO guys in the picture.

Soul mate is WASTED on people with NO souls.

It's plain MADNESS!

These are people who have NEVER set foot in Nigeria.

Many of them CAN'T even point out Nigeria on a map.
Many of them think Nigeria is a STATE in a COUNTRY called Africa.

But their extremely COMPROMISED media is telling them Christians are being TARGETED in Nigeria with ZERO proof and they GOBBLED it up like they always do.

Meanwhile, they have a NAZIFIED Police Force who are KIDNAPPING and TRAFFICKING people because of their SKIN COLOUR.

If these HYPOCRITES care about Christians, they should fight for the LATINOS being kidnapped everyday on their streets.
After all, MANY of these Latinos are devout Catholic Christians.

They are very EAGER to fight for the oppressed in FARAWAY lands while keeping mum about and actively participating in the OPPRESSION of people right INSIDE their own country.

MAD HYPOCRITES!

In fact, NOBODY should take the Western countries serious. Especially the Americans.

They are a 100X guilty of anything they ACCUSE anybody of.

That's why I find it absolutely HILARIOUS that there are people who LOATHE Tinubu and IDOLISE Frump.

Meanwhile, any objective and sensible person can see that Tinubu is a BETTER person and leader than Frump will ever be.

They ACCUSE Tinubu of certificate forgery which is most likely true but same people turn around to worship a man who THREATENED to sue his school IF they release his results.

Funny people!

If you OPPOSE evil, oppose EVERY shade of it.

Great one from DANGOTE!

However, he NEEDS Filling Stations for both GAS and Petrol that'll sell DIRECTLY to final consumers.

Otherwise, this INCREDIBLE savings he keeps giving every month will NEVER make it to end users.

The MIDDLEMEN from Hell will keep pocketing the difference.
And Nigerians will keep looking in FUTILITY for the impacts of the much touted Dangote Refinery.

I don't know who this boy is but he sounds like a SToooPeeD BOY.

When you have a WEALTHY and INFLUENTIAL father, you have already BENEFITED from him.

He doesn't even have to do anything or give you anything else. His mere existence is a BOON for you.

You are able to take GREAT risks because you know your father will ALWAYS be there to CUSHION your fall.

Others don't have that luxury. They have to take FEWER risks because a single failure could RUIN them for life.

But that's NOT your reality because of your father.

Plus, the IMMENSE amount of GOODWILL attached to your family name because of your father is INVALUABLE.

Children of RICH people should NEVER downplay the contributions of their parents.

Being the son or daughter of a BILLIONAIRE and trying to spin a story of how you are SELF-MADE is MADNESS!

That is why I respect Davido.

Dude came out of the gate and DECLARED himself "Omo Baba Olowo" aka the Son of a Rich Father.

He EMBRACED his father's VAST resources.
But that does NOT detract from his own personal achievements.

Yet that simple acknowledgement HONOURS his father.

Sons of GREAT men should NEVER attempt to belittle their fathers.
It's MADNESS!

Someone is using somebody's tithes and offerings to do DORIME and SUGAR DADDY.

Adeboye is a PULPIT DICTATOR.

Many of them want followers who'll BOW to their every whim without question.

That's how one of Adeboye's colleagues told a 22-year old Sickle Cell sufferer that the ONLY way to heal her was for him to have MARATHON SEX with her for 7 uninterrupted days.

MADNESS!

They GROOM their followers to become EMPTY SHELLS with no opinions of their own.

These are FAKE Igbos.

No TRUE Igbos would sit COMFORTABLY in the peace and tranquility that Canada confers and ADVOCATE for the release of a terrorist.

Instead of asking for the UNCONDITIONAL release of a known terrorist. They should ask for a PROMPT and JUST conviction of the criminal.

Tinubu is following the footsteps of Trump.

TERMINATE ALL CULTISTS!

When they DEPORT this one now, he'll blame it on RACISM and/or his INNOCENT village people.

Meanwhile, the real CULPRIT would be his INABILITY to keep his mouth shut.

The Teacher is most likely to get a JUICY appointment from the White House.

Taking moral advice from someone who FOISTED a PEE.DOUGH.FILE on the American people is MADNESS!

Musk is a KNOWN PEE.DOUGH.FILE sympathiser.

He doesn't want kids to watch CARTOONS with LGBTQ characters that hurt NOBODY but he DOESN'T mind actively campaigning for and SPONSORING the campaign of a man that is known to have RAPED kids.

Musk is MAD!

If your Mi Account is active on the phone, you can LOCK it remotely. And have it display a customised message that it was STOLEN.

Furthermore, Mi Account can be used to TRACK the phone.

Look into that.

Everybody in Nigeria KNOWS at least one Yahoo Boy.
In fact, some people have turned Yahoo into Family Business. You'll find 2 or 3 siblings ALL actively engaging in Yahoo.

Many of them, with the BLESSINGS and encouragement of their parents.

Some business models exist SOLELY because of Yahoo Boys.

And the macro-economic IMPACTS of these thieving RASCALS is debilitating!

House rents are through the roof in areas that have ZERO business with expensive house rents.

Prices of some very SPECIFIC cars have ballooned beyond reason because they've become the defacto cars of Yahoo Boys.

In fact, successful young men with legitimate means of income CANNOT drive those cars without being branded as an UNDERCOVER Yahoo Boy.

Some people blame POVERTY.
Others blame the exponential DECADENCE of the Nigeria society that GLORIFIES fraud to the point of social PRESTIGE.

But the Nigerian Courts should take MAJORITY of the blame!

EFCC would conduct a STING and arrest Yahoo boys in number of 10s and 20s.

And Nigerian Courts will SET THEM FREE with just a fine as LOW as #100,000.

Nigerian Courts allow CRIMINALS to destroy the reputation of the entire population for less than $70.

This is MADNESS!

EFCC seems to be arresting them EVERYDAY. Yet they seem to INCREASE in number every day.

Now, we know why.

Nigerian Authorities are doing CATCH-and-RELEASE with these CRIMINAL Yahoo Boys.

This is an article POSTED by EFCC on their website about 15 Yahoo Boys that were arrested and FREED in Benin:
https://www.efcc.gov.ng/efcc/news-and-information/news-release/9244-court-sends-15-internet-fraudsters-to-jail-in-edo

MADNESS!

What a MESS!

A POR.NST.AR as an ambassador?

What a BIG MESS!

The GENOCIDAL Maniacs must get their just RECOMPENSE.

Only a matter of time.

The Proposed PISS deal is a FARCE.

It demands that Palestine DISARMS?
That's MADNESS!

That's like if your neighbour is a PYROMANIAC and they want you to get rid of your water tank.

Madness!

If a Muslim Country did one-tenth of what Israel has done in the last 2 years, the WHOLE world would brand them a TERRORIST nation.

Israel is a TERRORIST nation.
Even if people are too CHICKEN to say so.

More like Range Rover Obituary.



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From Lagos to Anambra.

These CRIMINAL Politicians won't build decent FIREFIGHTING establishments but they want to TAX Nigerians to death.

MADNESS!

You CANNOT be committing genocide and expect the rest of the world to CHEER for you.

Israel has the CAPABILITY to launch extremely TARGETED attacks against HAMAS Terrorists.

Instead, they chose to CARPET-BOMB the entire Palestinian Territory leading to the deaths of THOUSANDS of INNOCENT people including CHILDREN.

Modern rules of COMBAT allow some kind of humanitarian aid to be provided for CIVILIANS in warring territories but Israel continues to ATTACK people trying to provide aid and succour to the victims of Israel's INDISCRIMINATE BOMBING.

Netanyahu is a WAR CRIMINAL.
But ICC and the rest are doing NOTHING about it because he's an ALLY of the West.

Xi Jinpin has the most MAGNIFICENT resting bitttcccch face I've ever seen.

He looks ANNOYED all the time.

The problem is this ASTRONOMICAL increase in revenue does NOT translate to an increase in the WELFARE of the average Nigerian.

In fact, one could argue that the increase in government revenue is INVERSELY proportional to the standard of living of Nigerians.

The MORE money they make, the more money they TAKE from Nigerians.

The increase just means more for the CRIMINALS to LOOT.

Tinubu's cabals must be SALIVATING!