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Nairaland Forum / Nairaland / General / Politics / No be to shout VAT! VAT!! Will your state survive VAT? (2470 Views)
If Nigeria Breaks, Can Your State Survive Without Monthly Allocation From Abuja? / Alakija: Raising VAT Will Hurt Entrepreneurs / 7.2% VAT Will Dampen Nigerians’ Purchasing Power, Say Financial Experts (2) (3) (4)
No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 6:08am On Sep 28, 2021 |
Will your state survive if every states collects VAT because there will be different VAT for different states assuming each States collects its own VAT States like IMO, Kebbi, Zamfara, Osun will need to have 1000% increase to break-even, meaning despite this, they won't still make profile from tax, while the most viable state like Bayelsa will have at least 200% increase to break-even, it is not rocket science to know that at least 30 states will go bankrupt. States like Lagos, Rivers and Oyo will have people coming into the states daily in numbers due to massive inflation in their respective states which will lead to overpopulation in Rivers and Lagos(already overpopulated), only 3 States will keep progressing geometrically while the rest states will have a massive decline in commerce and trade. Me, I no go like Almajiri and Ipob in Rivers state o, we never deal with cultism problem finish
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Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 6:08am On Sep 28, 2021 |
Typing |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 6:29am On Sep 28, 2021 |
I don't think any state will survive it, Poverty in Nigeria is something else, a lot of touts and Yahoo boys go full my state, I no want them biko, let's just go our separate ways instead of this VAT thing. |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by extol1(m): 6:42am On Sep 28, 2021 |
kogi, capital NO 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Lawlab249: 6:50am On Sep 28, 2021 |
Yeah |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by triple996(m): 6:52am On Sep 28, 2021 |
Yes!!!! Kaduna no b joke 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by psucc(m): 7:14am On Sep 28, 2021 |
It may surprise you that some of these states will wake up to their responsibilities. Within one to two fiscal year, there'll be a tremendous increase (positive) in VAT generation. 8 Likes 1 Share |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Brimstone77: 7:22am On Sep 28, 2021 |
richmond500:this is my main reason of viewing this thread and I'm not disappointed... A day without zombies mentioning ipob or Igbo is like a day wasted.... 3 Likes 1 Share |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:28am On Sep 28, 2021 |
Brimstone77:my home state, Rivers state was mentioned 3 times. Cultism in Rivers was mentioned one time. Two northern states were mentioned. 3 southwest states was mentioned Two SS states was mentioned in my writeup but ur problem is the one SE state (Imo) that I mentioned? 15 Likes 2 Shares |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:35am On Sep 28, 2021 |
psucc:that can never happen, the states will take at least a decade to get back on their feet cos people will run away from the states when inflation bites 3 Likes |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Brimstone77: 7:36am On Sep 28, 2021 |
richmond500:you can mention those states hundred times I don't care... You should just stop involving ndi Igbo in your rubbish,we are not Nigerians please.. 2 Likes |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:41am On Sep 28, 2021 |
Brimstone77:do u use Naira? Does any of ur credentials have Biafra nationality? What makes u think u aren't Nigerian? Anyways I don't want to turn the thread into something else. When I created the thread, I didn't even think of tribal sentiments, how u were able to drag igbo into this thread is overwhelmingly astonishing. 10 Likes |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by CertyAgroAllied: 7:43am On Sep 28, 2021 |
On God |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:43am On Sep 28, 2021 |
Lawlab249:what state? |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:44am On Sep 28, 2021 |
CertyAgroAllied: |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by CertyAgroAllied: 7:45am On Sep 28, 2021 |
My State of mind would though richmond500: |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Brimstone77: 7:46am On Sep 28, 2021 |
richmond500:at the bolded... I no you will surely ask this,it have become a national anthem to you one nigerianists.. You use dollars does that make you an American citizen?? For documents with Nigerian nationality well I have burnt them all because it's of no use... Including my passport...so chill. 2 Likes |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by theTranscriber: 7:46am On Sep 28, 2021 |
Brimstone77:you are not even ashamed imo generates 2 billion and collects 25 billion that's a disgrace even small Osun does better regionalism is the way to go Brimstone77:e shock you? n'di deveropers didn't even generate up to a quarter of what you receive yet na you dey shout pass I sorry for you 5 Likes |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:46am On Sep 28, 2021 |
extol1:Lolz, God go airpus |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Brimstone77: 7:50am On Sep 28, 2021 |
theTranscriber:hello!! Are you talking to me?? |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by udemzyudex(m): 7:50am On Sep 28, 2021 |
The reason why lagos generate more is because everything is tax, even if you hawk gala in the market, you will be tax. A woman selling pepper soup in her truck inside the market pays more than #600 tax to 3 different people. So If this happens, states will tax the citizens more to generate more income,any organisation boycotting tax payment won't be overlooked. 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:51am On Sep 28, 2021 |
CertyAgroAllied:Abi o, We don already see enough just by living in Nigeria, nothing surprises local man at this point Nothing apostolic church no go see for uncompleted building 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 7:57am On Sep 28, 2021 |
udemzyudex:some states are economically more viable than others, and therefore could generate massive tax easily even if VAT price is very low. Others states doesn't have this advantage and to keep up with their spending, taxation will be disproportionately increased, this will also affect inter-state commerce with different tax values, some states will definitely go bankrupt, despite the states not economically viable, the tax will be massive. I stand to be corrected 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by nabiz(m): 8:07am On Sep 28, 2021 |
richmond500:the allocation is little fair. But it is not about surviving it. It is about doing the right thing. Every state need to work. We have to discourage this feeding bottle system. Necessity is the mother of invention. All state in Nigeria have what it takes to survive. They need to go to work 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Nobody: 8:08am On Sep 28, 2021 |
richmond500:You're wrong about all this. Well, is just your opinion. |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 8:09am On Sep 28, 2021 |
Brimstone77:Am I suppose to ask ur body count? You use dollars does that make you an American citizen??We dont use dollar in Nigeria, we use Naira, were u living under a rock? For documents with Nigerian nationality well I have burnt them all because it's of no use...liar |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Nobody: 8:09am On Sep 28, 2021 |
udemzyudex:Yes you're right. Only states like Borno state dealing with insecurity issue go really struggle. The rest will adjust. |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Nobody: 8:12am On Sep 28, 2021 |
richmond500: What of the income shared from oil money Nigeria earns from sale of crude oil, taxes from companies, stamp duty income etc etc? |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 8:14am On Sep 28, 2021 |
DubaiLandLord2:before that adjustment, people will run away from the state due to massive inflation, whether they are ready to come back or not is a different story. Now its not about adjustment, its about competing with states like Lagos and Rivers in VAT because u can't just wake up and sign VAT bill but a VAT that can favour inter state commerce 1 Like |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by richmond500: 8:17am On Sep 28, 2021 |
kmcutez:VAT is not a production tax, but terminal tax which is paid by the ultimate consumer. |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Nobody: 8:18am On Sep 28, 2021 |
richmond500:Why will a state like Osun be competing with Lagos in VAT without considering the purchasing power of the people of Osun state? Is so foolish to think states will increase there VATs rate In a ridiculous way. That of the FG own is about 7.6%, Lagos own is not up to 7%, that of Rivers state is about 7.5%, Ogun state is about to pass their own VAT bill, and I can assure you that it won't be more than 7.6%. there are even some things like fertilizer that are exempted from VAT payment. |
Re: No be to shout VAT! VAT!! Will your state survive VAT? by Lastmankc(m): 8:20am On Sep 28, 2021 |
Behold your poverty |
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