₦airaland Forum

Believeintruth:
Look for a country seeking to pull itself out of a debt trap you need to encourage internal business activities that would lead to exports and not scare them. widening tax bracket now in Nigeria is shooting ourselves in the foot let me tell you. Already the informal sector is reeling under intense local and state government levies, even his daughter oversees one the tax operations as Iyaloja. Again business activities are taxed via VAT and also financial transactions are taxed also you pay tax on calls you make so really where do you want to tax in an economy that has lost it's elasticity?

Believeintruth:
And widening tax bracket is a local solution abi? Oga do you understand what table And by widening tax bracket? Tinubu is playing to the gallery here he is talking about the informal sector and looking for ways to tax business activities which in a way will backfire on us. Look informal sector pays numerous levies examples in Markets especially in Lagos the dues that goes to the Iyaloja who happens to be his daughter is it not tax? other form of Local and state levies are they not tax? expanding VAT into the informal sector is a recipe for disaster as things are so expensive for the common man already. Also business activities are taxed already there is tax on phone calls and also the stamp duty paid of bank transactions, which begs the question why can't he explain in clear details what he meant by widening tax bracket when the tax bracket is at it's elastic limit. Me thinks that Tinubu is really out of touch with the reality of our situation.

lebienconnu:
Hmmm. Good points there. However further VAT increase may concentrate the burden on the private sector which employs a very large chunk of the poplation. It may also further discourage the already reluctant investors.

Like you said, almost everyone is paying tax already so what we should be discussing now is how to optimize the one being collected. Consider reducing cost of governace, contractors should be held accountable for the their job, ghost workers should be eradicated, fake oili importers collecting billions of Naira in subsidy should be hunted down etceteera.

It is my utmost beleive that if all these financial leakages are fixed there wont be the need to further increase the tax burden on the citizens either by way of VAT increase or bracket widening.

Everlastingson:
Don't let God get angry with you and destroy you. You think He supports evil like you? Be careful!

ASIWAJU AHMED BOLA TINUBU IS NIGERIA'S NEXT PRESIDENT BY THE GRACE OF GOD. AND NIGERIA WILL ENJOY ABUNDANCE OF PROSPERITY AND SECURITY DURING HIS TERMS AS PRESIDENT.

Softmirror:
ASIWAJU AHMED BOLA TINUBU IS NIGERIA'S NEXT PRESIDENT BY THE GRACE OF GOD. AND NIGERIA WILL ENJOY ABUNDANCE OF PROSPERITY AND SECURITY DURING HIS TERMS AS PRESIDENT.

DesignMaestro:
Let's try to be objective sometimes. Nobody can be wrong all the time. He gave this advice as far back as 2019. You are obviously misquoting him. This is what he said:
“Let me appeal to Vice President Yemi Osinbajo and his team to put a huge question mark on anything that concerns VAT.

“If we reduce the purchasing power of the people it can further slow down the economy. Let us widen the tax net. Those who are not paying now even inclusive Bola Tinubu, let the net get bigger and we take in more taxes and that is what we must do in this country,”

Everlastingson:
Whenever you want to do taqquiya you change your Allah to God. Call him that you serve Allah for that is his name.

WHETHER ALLAH OR GOD ASIWAJU BOLA AHMED TINUBU IS NIGERIA'S NEXT PRESIDENT BY HIS GRACE HE WILL DISGRACE ALL OF YOU.

Softmirror:
WHETHER ALLAH OR GOD ASIWAJU BOLA AHMED TINUBU IS NIGERIA'S NEXT PRESIDENT BY HIS GRACE HE WILL DISGRACE ALL OF YOU.

Everlastingson:
You're still in your taqquiya. Don't pretend you don't know the difference between Allah and God. Keep to your Allah and his "grace". Don't " adulterate" the" grace" of Allah with the grace of God

ASIWAJU BOLA AHMED TINUBU IS NIGERIA'S NEXT PRESIDENT BY THE GRACE OF ALLAH.

Softmirror:
ASIWAJU BOLA AHMED TINUBU IS NIGERIA'S NEXT PRESIDENT BY THE GRACE OF ALLAH.

Everlastingson:
Better. But emilokan CANNOT be the President of Nigeria. Never!!

PRESIDENT AHMED BOLA TINUBU OF THE FEDERAL REPUBLIC OF NIGERIA INSHAALLAH. . WE DON'T WANT PEOPLE WHO GRADUATED WITH THIRD CLASS TO RULE US IN THIS COUNTRY. WE WANT A MAN WITH SOUND PROVEN INTELLECT, WHO HAVE DISTINGUISHED HIMSELF IN ALL WORKS OF LIFE IN THE MOST POSITIVE WAY.

Softmirror:
PRESIDENT AHMED BOLA TINUBU OF THE FEDERAL REPUBLIC OF NIGERIA INSHAALLAH. . WE DON'T WANT PEOPLE WHO GRADUATED WITH THIRD CLASS TO RULE US IN THIS COUNTRY. WE WANT A MAN WITH SOUND PROVEN INTELLECT, WHO HAVE DISTINGUISHED HIMSELF IN ALL WORKS OF LIFE IN THE MOST POSITIVE WAY.

Emir01:
You can say better than this. Alot of people inside market or those people we normally called hustlers on the street are making better money than people in the formal sector wearing suits. What's our revenue to Gdp Ratio? Nigeria is among the lowest countries in terms of paying taxes? This government is the best in terms of widening our tax net in the history of this country. People need to pay taxes and be responsible as well. Our VAT is one of the lowest in the world. Which tax is going to Iyaloja? Do you have your prove cos most of u will just be spewing trash and gaslighting. What's wrong in his daughter to be Iyaloja?
His advice is the best ever. Alot of SMES are making millions every month and are not captured.

lebienconnu:
Hmmm. Good points there. However further VAT increase may concentrate the burden on the private sector which employs a very large chunk of the poplation. It may also further discourage the already reluctant investors.

Like you said, almost everyone is paying tax already so what we should be discussing now is how to optimize the one being collected. Consider reducing cost of governace, contractors should be held accountable for the their job, ghost workers should be eradicated, fake oili importers collecting billions of Naira in subsidy should be hunted down etceteera.

It is my utmost beleive that if all these financial leakages are fixed there wont be the need to further increase the tax burden on the citizens either by way of VAT increase or bracket widening.

Buccalcavity2:
Lies! Look PAYE in Kaduna is thesame as in Anambra! Yet Kaduna increased its IGR by 300% in 4 years without raising tax rate while Anambra is still struggling with Marginal growth( thank God Soludo is there now). This teaches you that simple lesson. There is so much to be made from existing taxable individuals rather than increase tax rate.
Lagos State you sighted has expanded its tax net to include informal sector, hence the wealth creation. This was PWCs recommendation to FG. first expand the tax net.
Most individuals (who don't have coprporate accounts anyway) go under the radar while formal workers pay taxes. Chinedu & Chioma in ABS and Unizik pay tax. But Nnamdi in Upper Iweka market doesn't want to pay yet he makes more money than them. Is that rational?

eldoradoxx:
I just defined what he meant by the net getting bigger and u are running riot here. Did I lie in my definition of getting the net wider? Who says that Federal Government cannot take his 2019 suggestion, in fact this is what they have been implementing attempting to tax everything. Are u aware that there is a tax on every 10 litre of beverage made with sugar? That is after imposing VAT and other taxes on sugar and sugar manufacturers who of course pass the tax burden to consumers

Tinubu also advised FG against pushing for additional layer of taxes but instead he said efforts should be made to effectively bring more persons and organisations into the tax net so as to increase revenue earnings for the country.

Still speaking on the way forward for the country’s economy, Tinubu said Nigeria must divorce itself from the fixation that GDP rate and similar statistics were an end in itself.

He said to pull the nation from poverty, government must play a decisive role. According to Tinubu, the goverment must at times direct and even develop markets and opportunities.

storm001:
Why ask Osibanjo and FG, why not ask Buhari direct.

Is Osibanjo the one increasing the tax?

Until you call out Buhari for what he is, you are not fit to rule this country.


Even if you do which you will never do, you are still not fit to rule Nigeria.

Antoeni:
Dead Man, Late Bola Ahmed Tinubu

Believeintruth:
I know humans don't have a buccal cavity only frogs do, so i understand your level of reasoning when did PWC recommend this to FG when the economy was not in a mess. Now it will be unrealistic because the population is already stretched as per earnings wise any attempt at widening tax net instead of providing tax reliefs to make the public have more disposable income to increase spebeing will not help the economy. Your comparison of IGR from PAYE between Anambra and Kaduna is so flawed and childish of not pedestrian at best. first question what is the conparison of the population of workers between the two states? so try and be more empirical and unbiased when you want Analyse things.

MacWin155:
If this is all you have to offer, your presence here lowers the IQ of every member of Nairaland.

I'm sure you're one of those low lifers with nothing to offer but the painful knowledge of their decrepit existence.

Buccalcavity2:
You can focus on irrelevant subjects and resort to insult for lack of content. Good luck!
Don't be ignorant. Our Tax burden is not increased by widening tax net/base as you suggested. Tax burden increase by raising tax rate or introducing new tax as against the idea of widening tax base which is only saying that 'ensure that everybody who is supposed to pay tax pays it and appropriately!'.Else it is injustice to those who pay tax.
The tax base is the total amount of income, property, assets, consumption, transactions, or other economic activity subject to taxation by a tax authority. A narrow tax base is non-neutral and inefficient. A broad tax base reduces tax administration costs and allows more revenue to be raised at lower rates.
https://taxfoundation.org/tax-basics/tax-base/

Are you saying that Kaduna State suddenly has more workers than Anambra to raise her IGR? Or they introduced new tax rates to account for the raise? Just think it through.
Check out the revenue to GDP profile of Nigeria in Africa to understand. Highest GDP, lowest revenue! What a paradox.
Except you are advocating that it's ok for some to pay taxes while others don't pay and yet enjoy the same facilities, then I know your leaning.
I rest my case.

SmellyNyash:
I fools like u not to quote me but u went ahead, u go soon die goat

Murphyenemuwe:
I need not to reply you but couldn't resist the temptation to address your ignorance. You're loud and empty and your comment to Tinubu's speech sold you out

Jesusloveyou:
obituary is not intelligent to that level.