₦airaland Forum

Roger Moore

Why is Dangote scared of imported fuel?
Is the imported fuel cheaper than his?

Does he think fuel is cement.
Monopoly kills competition and innovation.

If he is smart enough he should make his fuel cheaper so that does who import will be at loss.

That's more than $2400 in 1975.

Engine

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The reason the immediate past Chairman of Federal Inland Revenue Service, Babatunde Fowler, failed to retain its seat at the agency could be attributed to the findings of the National Audit Report.
The report stated that the agency, under Fowler, failed to collect taxes worth about N41 billion in Lagos as it has not been able to meet up with its target over the past four consecutive years.
The taxes, which are yet to be collected from companies, government agencies, and local government councils, are valued at N40.8 billion.
In the report for the year ended December 2017, the Auditor-General of the Federation (AuGF), Anthony Ayine, said the observation was made during the review of records filed by Companies at Federal Inland Revenue Service Micro and Small Tax Offices (MSTO), Medium Tax Offices (MTO), Large Tax Offices (LTO) and Government Business Tax Offices (GBTO) within the South–west Zone comprising of Lagos, Ogun, Osun, and Oyo states.
He said the uncollected taxes, which range from Company Income Tax, Value Added Tax, withholding tax, education tax, to Capital Gains Tax, may prevent the federal government from meeting its projected revenue.
Highlights:
545 companies had not remitted their Company Income Tax (CIT) to the FIRS valued at a total of N26 billion.
Companies, Federal and State MDAs, Local Government Councils and State Government within the South–west Zone were yet to remit about N8 billion being their Value Added Tax.
Withholding tax from companies, government agencies and local government councils valued at about N5 billion were also yet to be remitted to the FIRS.
About 318 companies were said not to have remitted their Education, tax which is 2% on profits of Companies valued at N697 million.
Two companies are yet to remit N99 million, being their Capital Gain Tax of 10% from the disposal of these companies’ assets. All these unreconciled taxes were said to have been communicated to the FIRS chairman.
Out of 28,237 duly registered Companies, 11,221 failed to submit their annual returns to various tax offices. These contradict the provision of the Company Income Tax Act, which requires a company to render an account of its operations within six months of its accounting year-end.
This number of companies who failed to render its returns represents 39% of duly registered companies with the FIRS.
Ayine said, “This issue was communicated to the Chairman, FIRS in my letter reference No. OAuGF/RESAD/FIRS/2017/VOL.II/5 of 1st August 2018 and no response has been received as at the time of forwarding this report.”
Findings revealed that Fowler failed to meet his collection target in 2015, 2016, 2017, 2018. For instance, in 2015, it set N4.7 trillion target but was only able to make N3.7 trillion in the actual collection. In 2016, 2017 and 2018, the target collections were N4.2 trillion, N4.8 trillion and N6.7 trillion but the actual collections were N3.3 trillion, N4 trillion and N5.3 trillion, respectively
Meanwhile, Nairametrics had reported about the memo, purportedly written from the office of the Chief of Staff to the President Abba Kyari to the Chairman of the FIRS, Babatunde Fowler circulated around social media on Sunday.
The Leak: The letter queried the FIRS head whose tenure is up about why he consistently failed to hit budget and why his tax receipts over the last four years were lower than that of the previous administration.
The chief of staff queried Fowler demanding a variance analysis him explaining the reason for the variances between the budgeted and actual revenues.
Why it matters: The Executive Chairman Tunde Fowler whose tenure has reportedly ended was expected to return for a second term. However, this letter suggests he may not get it as the vultures are circling in.
The query is also somewhat rudimentary as the reason for lower taxes over the last 5 years is obviously due to the recession.
The economy suffered through a recession in 2016 and has remained stuck in a GDP Growth rate of under 2%.
Suffice to add that various government policies on forex, an increase in import duty has also significantly hurt trade making it even more difficult to increase tax revenues.
Fowler also stated earlier in the year that the FIRS collected about N5.3 trillion in taxes in 2018 with non-oil taxes making up about 47% the highest in recent years.
R

globemoney:
Is there any popular Igbo on twitter that’s as tribalistic as this Ogundamisi, I’ll like to know. A popular Igbo user on twitter that bashed Yorubas the way this old fool does to Igbo

Yes!
Mr Stanley Nwabia but he is not tribalistic,but he always bash tribalistic afonjas on Twitter..

A Twitter user by name Ziggy shares a conversation he had with a broke unemployed guy in need.The guy just ask for money to smoke nothing more,lol

Oga Boss I can't download the eBook

Who is even using both banks in Nigeria? If its not Zenith bank or UBA the rest are just glorified Adashe(akawo).

wizkid sef

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Nollywood goddess, Genevieve Nnaji earlier today shared a lovely photo of herself in an Ankara gown and like many of her fans, Nigerian singer, Wizkid dropped a comment on the screen queen’s photo.

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Onyii Alex post picture of her posing with naija footballer, but that didn't go well with some of her Instagram fan...lol

safarigirl

[color=#990000][/color]
seven what..that's absurd u know, u should have bought this John Thomas keep for house in case of emergency

goddess Kwa,have u seen a goddess before she's pretty though but still same

How do you expect an unemployed man or a peasant farmer to pay tax.
If I were the President, I will decree that people should pay tax according to the type of cars they have.Transporters excluded

Ahmadu Bello University, Zaria started its existence as a regional university, just like its contemporaries, University of Ife, now Obafemi Awolowo University, ile Ife, established by the government of Western Region, and the University of Nigeria, Nsukka, established by the Eastern Regional government. Please remember that as at that period, the only University in the country, the University College, Ibadan, was then just a University College, whose admission policy and curriculum were closely tied to its parent university in the UK. So, the three regional governments, in pursuant of their manpower needs, set up regional universities, even the federal government joined the train with the establishment of University of Lagos, Akoka, on the fringe of the then federal capital territory of Lagos. Now, while Ife was established to accommodate the products of the free education programme, and Nsukka because the Eastern region needed a university. The case of ABU was different. The North had a massive manpower deficit, both in the regional civil service and in the military. To meet those needs, the regional government had to lower entry qualifications for most northern youth to qualify. That was why people like Buhari got drafted into the army with what we popularly call Awaiting Result (AR), and people like Abacha got in despite not meeting the height requirements demanded from candidates from other regions. For ABU, they had to create so many back bending programmes to meet up with their mandate. This of course led to the establishment of so many remedial programmes that it was referred to as the Remedial University. Even after it was taken over by the Murtala/ Obasanjo Administration which took over regional universities, the original purpose was never jettisoned. In fact, it got to a point where universities in the North were offering Certificates in Law! Which is used as an equivalent of an A/Level or OND, and are used to get into law programmes, cleverly sidestepping the very competitive JAMB entry requirements for Law! One of the reasons for the stranglehold by the North on the judiciary and the civil service is the transfer of state officers to fill their state's quota in the federal civil service. Imagine if you will, two lawyers, one from either side of the confluence, who did NYSC together, and joined their state's civil service the same day. The southern lawyer would move to Level 9 in 3 years, but the one from the north was employed on level 9, promoted to Level 10 two years later, and level 12 after only five years, while his counterpart at that point is looking forward to his level 10 promotions exam. If both officers now applied for transfer of service from state to the federal service, one is already three levels ahead even though they graduated the same day! What makes it worse is that the Northern lawyer probably had only three credits, did a certificate course in Law, and then studied Islamic Jurisprudence, which is not applicable in about fifty percent of the states of the federation! This man will now become a judge at 30, Appeal Court at 35 and Supreme Court at 40, sitting pretty to become CJN while his Southern mate was just being elevated to the High court. There are even courses in UK colleges designed specifically for intellectually challenged northern politicians, their wives and their children! So, those of you showing righteous indignation about Dino's three credits must have been living on Mars. Because if you go down that path, the very foundation of Northern education, that has produced numerous presidents, permanent secretaries, Generals, Ambassadors, and majority of Directors of institutions, will be called to question. Please stop judging some people with your own standards, I am certain if we scrutinize the qualification's of most northerners in public office, the military, the police, customs, immigration, prisons, ports and sundry federal agencies, you will realize that Dino is just one in a million. ABU is just fulfilling its mandate of producing low-level human resources to fill the northern quota in a skewered federal system. It does not deserve your abuse, but your pity.

See this 1 shirt actor thats yet to hammer in nollywood,you will never be rich if you always spend half of ur monthly salary on a pussy...Take it or Leave it...AMU-ANU

See this Afonja witch wan make NASS cut CBN power days after Nigerian comot frm recession,like say she get sense...Monetary policies she no sabi

BigBoy with Swag...I stand with #BuhariMustPeme

I stand with #BuhariMustPeme

How can a dead man address us?...I stand with #BuhariMustPeme