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Nairaland Forum / Nairaland / General / Politics / Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas (7942 Views)
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Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Racoon(m): 11:35pm On Apr 30 |
The Speaker of the House of Representatives, Tajudeen Abbas, has described Nigeria’s Value Added Tax collection as the lowest in the African continent. https://punchng.com/nigerias-vat-collection-lowest-in-africa-abbas/ 4 Likes 3 Shares
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Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Racoon(m): 11:37pm On Apr 30 |
Comparatively, Nigeria’s efficiency in collecting Value Added Tax is the lowest among its African peers, indicating significant inefficiencies in its tax system. “This trend of low tax revenue, coupled with a continued dependency on the increasingly unstable oil revenue, presents a major risk to Nigeria’s fiscal sustainability. It also highlights an important area for potential reform to boost revenue and stabilise the country’s economic framework. “The lack of growth in non-oil revenue sources and the volatile nature of oil income underscore the urgent need for Nigeria to diversify its revenue base and enhance its fiscal management to ensure economic stability and growth.” 17 Likes
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Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Urheadmaster(m): 11:44pm On Apr 30 |
Mr Abbas, what are you up to? do you want to increase the Vat. So Nigeria can be first and highest in the whole of Africa 40 Likes 2 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Racoon(m): 11:54pm On Apr 30 |
Power minister is threatening its citizens. While this figurehead NASS rubberstamp is giving another propaganda here. After all the lies and propaganda, they still increase the hardship and pain. No more money to loot. So they have started to glean or scavenge via any mean to tightened the noose on the poor hapless citizens. Meanwhile the Nigerian economy is still bleeding some more. No electricity/power, cost of fuel is rising, cost of living is skyrocketing, naira depreciating against the dollar again among many myriads of economic, security and national problems. All they are obsessed with is how to continue to fleece the country to feather their own nest. 83 Likes 10 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by chiiraq802(m): 4:17am On May 01 |
Really What of looting collection 27 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Emeskhalifa(m): 8:15am On May 01 |
Dem wan take style add VAT be that ooo 27 Likes 3 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by malali: 8:16am On May 01 |
Mr Speaker that is a Lie ! South Africa, Morocco, Egypt and Nigeria Collect the highest VAT in Africa ! [b]You have raised some pertinent issues regarding Nigeria's Value Added Tax (VAT) collection and the need for tax reform. However, your focus on inefficiencies within the tax system overlooks some crucial factors that significantly contribute to tax revenue struggles in Nigeria. Firstly, while improving tax collection efficiency is important, it's essential to address the elephant in the room: widespread corruption and looting. These issues not only drain public funds but also erode trust in the government and discourage citizens from willingly paying taxes. The absence of a robust anti-corruption framework allows for leakages in revenue collection, undermining any efforts to enhance tax revenue. Furthermore, the disconnect between the taxes paid by ordinary Nigerians and the tangible benefits they receive from the government exacerbates tax resistance. Many Nigerians have never experienced the positive impact of taxes in their daily lives. Basic amenities such as healthcare, education, and infrastructure remain woefully inadequate, despite the taxes citizens pay. This stark disparity between taxation and service delivery creates a sense of injustice and fuels tax evasion. Additionally, the current pay scale in Nigeria does not align with the basic living needs and standards of its citizens. Many Nigerians struggle to make ends meet on meager salaries, leaving little room for tax compliance. It's unjust to burden individuals with taxes when they are already grappling with poverty and economic instability. Any discussion on tax reform must consider the socioeconomic realities of the Nigerian populace and ensure that tax policies are equitable and supportive of livelihoods. Moreover, Mr Speaker while emphasizing the potential of digitalization and technology to enhance tax administration, this approach may inadvertently exclude a significant portion of the population who lack access to digital tools. Nigeria still grapples with widespread poverty and limited internet connectivity, making it challenging for many citizens to engage with digital tax systems. Any reforms must prioritize inclusivity and ensure that all segments of society can participate in the tax process. while tax reform is crucial for Nigeria's economic stability and growth, it must address systemic issues beyond mere inefficiencies in tax collection. Tackling corruption, improving service delivery, and considering the socioeconomic realities of Nigerians are paramount. It's time for the government to prioritize the welfare of its citizens and implement tax policies that are fair, transparent, and inclusive. Only then can Nigeria truly harness the potential of taxation for sustainable development and prosperity for all.[/b] What happened to most of the IGR from kogi state in the last 8 years ? If the citizens contribute double the taxes and the incumbent also steals double the loot of his predecessor how does that benefit the citizens ? Does your government intend to beat the citizens to death with tax collection despite the high cost of living with the un-aliving wages paid by your administration. You conveniently left out corruption, looting and misappropriation in your write up. I wonder why ? Can you amend your write up to reflect that your fellow politicians are looting the taxes currently generated ? 14 Likes 3 Shares
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Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by sematec(m): 8:16am On May 01 |
f |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Saturnalia(m): 8:16am On May 01 |
Una don start again with your stupid statistics abi? Nigeria’s VAT Collection lowest in Afrika. What about the living standard? What about the minimum wage? What about the social amenities? What about the public infrastructures? This was how Tinubu came with his gra-gra to remove the Subsidy & floated the Naira; the results of which he’s currently battling in futility to reverse. Go on and add to the burden of the already battered masses so that we can all unite in purpose and start hunting you bastard and insensitive animals in Government and your family members for food like Kangaroos in the wild. 40 Likes 6 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by SEGLIZ: 8:16am On May 01 |
idiot. 9 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Dimaya: 8:16am On May 01 |
clowns 4 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by SpecialAdviser(m): 8:16am On May 01 |
Mumu people. It's clear these guys are on a mission to suffocate Nigeria and kii them patapata. I'm not surprised they don't discuss how to retrieve stolen money. It's how to increase hardship. Increasing VAT will increase inflation and this is where they are going for those who don't understand. 11 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Ybholy(m): 8:17am On May 01 |
Electricity is stable in most neighboring African countries 👌 None of them has complained about that. Ndi ara Ndi ara 11 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by IMASTEX: 8:17am On May 01 |
This is really bad. Please increase the VAT by 500%. But please don't also forget to increase the ease of doing business with the same percentage. Talking of electricity, good road, security, access to business loan, stable policies, etc. And of course audited report of how the ones previously collected were spent with proves. 8 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by fixedhollies(m): 8:17am On May 01 |
Awon omo irankiran 4 Likes |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by strangest(m): 8:18am On May 01 |
How about LOAN COLLECTION from China.... Highest 7 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Rhema0011: 8:18am On May 01 |
ANOTHER REMOVAL OF SUBSIDY SCAM LOADING OOOO. MAKE UNA KUKU KILL US 5 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Bobloco: 8:18am On May 01 |
They want to increase VAT 6 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by santaclaws: 8:19am On May 01 |
I still paid VAT yesterday while shopping in a popular Lagos mall... All the taxes they're collecting, what are they doing with them? 5 Likes 2 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Macphenson: 8:19am On May 01 |
looks like there is an under ground plan to increase VAT and they have sent one of their confused stooges to test the waters. 9 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Usmanovic95(m): 8:19am On May 01 |
Tax us more for values that are not added? 10 Likes 2 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Curious345: 8:19am On May 01 |
How ? |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Lanre4uonly(m): 8:19am On May 01 |
Ok, noted. |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by udemzyudex(m): 8:19am On May 01 |
All this clowns with their useless comparison. 1 Like |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by specialmati(m): 8:19am On May 01 |
we just allow a criminal grab power and was running with it.he now assemble his fellow criminals to make life more difficult for the country. buhari was the lesser evil to compare with tinubu.when tinubu and his demons are done with you guys.you guys will know the difference between devil's torment and demons torment 9 Likes 1 Share
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Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by Promismike(m): 8:20am On May 01 |
Ok |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by VULCAN(m): 8:20am On May 01 |
APC is a demonic party. Never any plan to boost businesses or economy. The best they came up with is a fraudulent cash transfer to ghosts. All set up to fill up their pockets. 8 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by cream1: 8:20am On May 01 |
That is what you and this Govt. always compare, where you will milk and ask for more tax, what of comparing with those of steady electricity, good roads, hospitals and schools and security. You don’t see those to compare. Clowns that have no business with Governance. 6 Likes 2 Shares |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by RecessionistPMB: 8:20am On May 01 |
In some weeks ahead, Federal Government headed by Bola Tinubu will increase VAT in order to have more money to steal. You can book mark this post. "Let the poor breath indeed"! 7 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by PureFace1(m): 8:21am On May 01 |
Nigeria is too poor to bear all these burdens you want to put on Nigerians. Create more jobs and employments and improve the standards of living of Nigerians. 4 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by advanceDNA: 8:21am On May 01 |
Them nor dey see minimum wage... Na tax Dem dey see.... Oya ...increase vat naaa......awon werey 4 Likes 1 Share |
Re: Nigeria’s VAT Collection, Lowest In Africa – Tajudeen Abbas by saasala(m): 8:21am On May 01 |
Nigeria's standard of living is also lowest. Electricity lowest. Road worst. Poverty rate highest Let them tackle the above first and they can increase vat 8 Likes 1 Share |
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