₦airaland Forum

ppogba:
They are the undisputed worst.
Don't be deceived by the SMS rainfall.

If you have ever encountered them before, they may need a decade to convince you that indeed, they have changed from worst to worse in the first instance.

Raider76:
The temptation is great though. You only get one chance to acquire these refineries at give away prices.

Dum20:
Smart investors make money in bad or good government, devaluation or no devaluation.

It seems you do not care anymore if this thread is destroyed, maybe because you are not meeting your investment target.

That goes to show you are not much different from the people you critise.

So because things are not going your way, you want to bring the thread down.

There is a politics section where you can vent.

You are an elder, show maturity.

emmanuelewumi:
Who will determine the compensation?

Presco should come to Ogun State, we have land for the in Ogun State

toyeoye:
PRESCO
Elections have consequences

ojesymsym:
Few points I was able to gather from the session.


Before now we had a CDT act so unlike before where we had different tax acts and documents, we now have one signle law on anything tax.
Filings are to be done 2 times a year. June and December. Transactions that occur between Jan and June are to be filed in June, ditto for June to December in December.
CGT applies to gains in securities and capital market.
Loses can set off from other chargeable gains which means you can use losses from one asset sale to offset gains from another asset within the same assessment year. The old CGT law did not allow this until the act of 2020.
Non resident is liable to tax on gains made from Nigeria
The provision now also ensures that FDI also have to pay CGT even if they use SPV to run their business in Nigeria
One way to avoid paying CGT is to use the gains to buy another security within same calendar year irrespective of whether you made a gain of 10M or not.
Bonds and FG securities are still likely to be excempted
Timing your disposal can also help in reducing your CGT
You can use your loss making assets to offset your gains when you sell both within same period
Risked aversed people can focus more on dividend gaining asset since that dividends only attract 10% WHT
When filling your returns for CGT, all your refunds should provable. Contract documents come in place here
Same for when you reinvest.
Use all of those details to self declare your gains. Do not wait for the tax man to come and help you calculate.
Know what is taxable and not taxable, do not misclassify.
Crypto will also be liable to CGT
Identify Tax Exempt Table Income Portfolio abd assign more resources to them
Looks like even mutual funds are CGT taxaable (This one I was not clear on)

nosa2:
The money I put in Access today is less than half my transaction cost for my Zenith Bank purchase. I did it just for fun hence I used Bamboo. If I make money I will do something nice with it. If i don't then I turn long term investor.

Anyway lets see how it goes

nosa2:
I was in gtb few days ago to do a transaction and the bank was operating fine. Nothing to fear. Index will do what index do. The real world business will do it's own things

nosa2:
You get plans to cause civil war for this country?

The kind prices wey you dey call na war time market be that oh

Agbalowomeri:
Okay we go help you work on both

Oya sugar 40 here you come
Aradel 300 here you come

Agbalowomeri:
Oga Pluto see your mate dem

Okunrin meta akogun

mikeapollo:
Lol.
You mean long bullish runs can cause some ''insanity'' or ''madness'' in the market?
Please, some of us like that kind of madness ooo. We need it badly

Agbalowomeri:
Ahh make he no experience am o
Anyway targeting 2% in stock market no make sense. It is working in a bull market but make he no carry that bad character enter bear market sha otherwise na eternal averaging down

emmanuelewumi:
You will miss opportunities if you are waiting for when the bull will resurface

sophy17:
Please note that there is so much confusion emanating from the tax law itself and the guy Taiwo Oyedele. Besides, he has never been completely transparent and truthful regarding the tax law and its implications.

For clarity, your statement only applies to if the proceed of sale remains with your broker. It does not apply if you’re withdrawing after sales within the tax year. The tax is immediately triggered the moment you try to withdraw your sales proceeds once either of the threshold is met from 1st Jan, 2026 and it does not matter whether it happened within the first month of the year!.

He has repeatedly said they would work with the brokers, Ngx and CSCS and even our bank acs through our bankers to track/ monitor stock accounts transactions, and other credits and possibly debit tax or raise tax advice as the case may be, while also saying at different times that people will be expected to keep their own records and file their tax returns at year end. Recall the prostitute example he gave at a church event.

I am just happy that even though majority of the players in the market do not really understand the law, the few who does have and control huge stake in the market rejected it loudly through their massive dumping which sent a clear message and the resultant reaction from Wale Edun.

mikeapollo:
So selling and buying in the ''same year of assessment'' is the real deal now.
So if I sell on 31 December hoping to invest the proceeds in March, the govt will tax the proceeds of December. What happens when I want to reinvest the proceeds to buy another stock in March? Will govt refund?

nosa2:
Dont you guys find this day trading matter stressful?

Life no suppose hard like that oh

nosa2:
He may not be wrong though I'm not selling

Agbalowomeri:
Oando sef collect

Where is the prophet? Come and carry your kaya o

emmanuelewumi:
Not necessary. That is ojoro