I think I have got the calculation. Kindly view on your PC this Excel Worksheet. I am meant to pay about N18,600 and not the N95,000+ earlier posited and calculated by the tax calculator.
Kindly extend your views.
I appreciate you all.
When I computed your tax based on the N1.08m annual gross pay (i.e 90,000 monthly), your tax was N52,112.18 per annum. However, when I computed based on N1.508m (i.e. your annual salary inclusive of the bonus) your tax increased to N111,425.70 per annum. The difference between these two computations is the tax associated to the bonus of N500,000, which is N59,313.52
Note that I gave you relief for pension, NHF and CRA.
Tax calculations are usually sensitive. To avoid confusion, it is always better you compute on the annual sums. If you intend to compute on the monthly sums, then you have to bear in mind the need for prorations. For instance the 200,000 will be divided by 12, also the tax bands (i.e. 300,000, 500,000 etc) will also be divided by 12. As such, it is always save to look at the computations from the annual point of view.
The major thing Tobi mentioned during the HOH tussle is that he prefers Nina because, with Nina, it is guaranteed that there won't be any wahala. Biggie came to disrupt the whole thing in Cee-C's favour, now all I can say is that Tobi has been vindicated......
Happy birthday Blackhawk... I must say I really covet this peaceful aura around you which is always reflective in your posts on this thread, it indeed shows you are a great woman, I really envy you husband, children and family members, you are such a blessing to them all... many happy returns of this glorious day, and may you continue to enjoy the peace of God at all time.. Cheers
Nina to miracle...u are d most annoying human being in dis house.. Miracle- shut up joor u bleeped up yesterday.but before i went to be i gave u a good night kiss...dats maturity....
Saw this on twitter, I do not know if its true sha. Hopefully, it will make some folks happy though....
This Ifu lady is just on point, I like her composure, and choice of words, I have not really seen much of the other house mates though, but I must say, this Ifu is intelligent.....
Seun: Their choir was quite terrible last time I checked, though. For 10% of your income it would be reasonable to expect world class entertainment.
I'm sorry for your disappointment, albeit, church is a wrong place to look for your entertainment, you can check for your entertainment in other places...
ooshinibos: If you ran your governments the way church leaders are running churches. Nigeria might be a Qatar right now. In all these argument Canaanland has had stable electricity and water supply for its over 15,000 residents since 1999 and is already on the verge of converting waste to electricity. RCCG is producing 25MW of electricity. Yet your useless govt you pay compulsory tax, vat, CIT, Pet Tax has not been able to give you light decades after independence.
Living Faith has more than 16,000 Staff and has never owed any of them salary! Yet your state govt that collects Allocation plus Tax cannot pay full salary.
Living Faith a single Church is schooling 16 thousand of your Citizens in Higher institutions and many more at primary and Secondary levels yet you think you have the capacity to waggle your tongue
I went for Shiloh all through and stayed in the staff quarters yet it was electricity all through, for one second water did not go off inspite of thousands that were present. On a normal day you won't walk 20 meters before you find a segregated bin to dispose your waste.
The entire area was fully covered by different layers of Security with multiple CCTV and IoT enabled barrier gates. And yet your Abuja, capital of the Nation does not have CCTV yet you open your foul mouth to talk down on pastors! Ode
Between the guy that calls himself Area father and Oyedepo who resigned a federal job and started a Church of 3 people and has widened it to over 6,000 churches globally, over 100 schools, 2 hospitals, Over 1000hectares farm for livestock and crop, Another farm in Igbesa and CU. With 15,000 housing Estate, Water factories, Zeolite factory, One Research center, a scholarship fund, Beverage factories, 10 million books, Publishing house, Radio Station etc who has had more impact or who will have better capacity to govern the nation. Mumu
Canaanland host hundreds of thousands of people every week yet no stampede ever. Your govt gathered ppl at stadium for recruitment excersise and before it even began many were dead!
Living Faith already has a master plan till 2032 yet your govt does not have a plan for 2020!
You know Illogicality is the trademark of most Africans. They fail to think beyond their prejudices and sentiments hence Africa has remained on the ground.
Evaberry: They use our tithe and offering to send their kids Abroad while we stay here in Nigeria and suffer ASUU strike, fuel scarcity and what have u.
Many pastors deserve to go to jail.
LOl..., o ga ooo, our tithe and offering money indeed, as if you even pay that tithe self. Many of the e-warriors shouting about this tithe issue are not even paying. Is it your money they are paying as tithe, are they complaining to you... chewwwww
loj1: Of all d champ leag matches,dis wicked gotv choose 2 show andletch v celtic,na match b dat...disgraceful pple,tell me y i shld nt get dis tstv wen its launched
In fact I tire for DSTV, my N6,300 Compaq bouquet can only show Anderlecht VS Celtic also... TSTV, here I come
rossyc: They should channel their question to their coach.
Do they even have a coach? the last time I checked, NFF is still interviewing potential coaches for that position, among others. When it comes to Sport, administration has always been our major bane in this country
Toyo baby, I am so happy you have indeed overcome your fears and eventually came out clean, trust me, many are out there that are in a similar situation. We care so much about people's perception of us. Believe me, you have taken a very bold step, many who read this would have learnt one thing or the other (positive things). I celebrate your truthfulness and your courage.
Pabodan: Wonderful idea, but the fact remains that, do our political office holders even pay the right amount of tax? They should be the first to embrace VAIDS. I was amazed when I found out that our Emir of Kano is currently paying 5% of his income as tax, when his actual tax rate should have been about 17%. Even I with my meagre income pay about 13% of my salary as tax every month.
Wonderful idea, but the fact remains that, do our political office holders even pay the right amount of tax? They should be the first to embrace VAIDS. I was amazed when I found out that our Emir of Kano is currently paying 5% of his income as tax, when his actual tax rate should have been about 17%. Even I with my meagre income pay about 13% of my salary as tax every month.
littlewonders: Let's think like real Nigerians now; 'hypothetically'. If you were in charge of grouping cash for a project, will you be strongly involve financially?
Hummm, I get you actually, but in this case, the same law applicable to both you and I is also applicable to political office holders. I believe in leadership by example and also, I think it will be a bit easier to persuade me to obey a rule, when you are able to demonstrate to me that you are doing same.
This is one of the reasons why voluntary tax compliance is thriving in some other jurisdictions, because the leaders are leading per example. That is my point actually, that change should actually begin with them
Recently, His Royal Highness, the Emir of Kano published details of his salary for April 2017 on social media. Sanusi uploaded the information via his verified Instagram account, in a bid to demonstrate the actual amount he earns as salary on a monthly basis.
One thing that caught my attention is the tax the Emir pays on his salary. His gross salary shows ₦1,312,500 while his tax is ₦65,625. This means our Emir pays barely 5% of his monthly emolument as PAYE tax.
This is a far cry from the actual tax payable by an individual on a monthly income of ₦1,312,500. Based on the provisions of the tax laws, a tax payer on monthly income of ₦1,312,500 should be paying about 17.57% as PAYE tax. And this has led to the question: Do our public/political office holders pay tax in Nigeria?
I watched the clips of the presentation of our Honourable Minister of Finance at “the Platform”. During her presentation, the honorable minister gave a lot of statistics just to point to the need to improve on our tax collection drive in Nigeria. She mentioned that very few people in Nigeria pay as much as ₦20m in taxes in the year 2016, despite the number of millionaires we have around. Having said this, can the Minister even vouch that the right amount of taxes are paid by herself, her colleagues and other political office holders?
In the same vein, our internal revenue services across different states of the Federation have been strengthening their tax collection drive, and are always at loggerhead with private bodies especially to ensure right amount of taxes are paid by their employees and individuals like you and I. We hear various jingles on our radios and televisions every day of the week on the need to pay our taxes. Some of them even go to the extent of disrupting the activities of business owners in the name of collecting tax for government. Many a times, "crazy" tax bills are given to private bodies with a mandate that payment is made immediately. However, many of our public office holders do not even pay theirs and those that even pay (like our Emir) are not even paying the right amount.
As such, there is need for government to ensure that the same level of benchmark is applicable as far as the tax compliance status of our political/public office holders is concerned. CHANGE should actually begin with them. Public/political office holders should actually be made to pay the right amount of tax.
Just heard that Federal government has declared tomorrow as public holiday to celebrate the landslide victory of Efe... Based on logistics, can anyone confirm this?