₦airaland Forum

and the rich will indirectly tax the poors to pay the tax

kettykin:
Notice how these ineptitude, inexperienced, incompetent, ignorant , imbecilic entities that had through their wrong policies brought the economy on its knees will now drive wealthiest people with their nonsensical policies.
.tell me what are you going to us the taxes to do if not to take crowds to Dubai and London and Paris buy jumbo jets, buy watches and yatches.

Firstly, cut down the cost of governance to the barest minimum before taxing the rich.

In the next 5 years there might not be private jets or wealthy people in Nigeria all because of the gross stupidity of apc government

Ask people living in dubai London Canada US UK if they are not paying tax 😡

U Nigerians are too fast to condemn a Greta moves to improve a nation .

We are both affected though but in developed countries they don't joke with TAX

Correct! That's how to do it. But I want action Taiwo. Enough of policy statements.
Don't mind all the illiterates up there. They don't know better.

A lot of Nigerians and flaunting wealth online put dont pay person income taxes. 😂

The so called rich doesn't have a particular office or company where government tax collector can hold them down.

Over time, the rich becomes poorer, and becomes like the poor....and the weight of the tax would never go down. That's the central problem of the American tax system...and Tinubu knows.

Resurrection212:
The so called rich doesn't have a particular office or company where government tax collector can hold them down.

They no longer go to offices. They use bank accounts to reach you. By the time they land PND on your account and follow it up with assessment and GSI, you will be the one to be running after FIRS.

25% company tax rate is just okay.

What the country needs is a tax rate that can bring in massive investments from overseas. A tax rate like 15% or less would be ideal. Ireland 12.5% corporate tax rate transformed the country.

As of 1994, Irish people used to travel overseas for work. By 2005, it was the complete opposite.

CoronaVirusPro:
Thats a brilliant one coming from the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR)

With the rich paying a fair share to alleviate the lower class, the class gap will be reduced to minimal and acceptable levels.

Make thunder fire u …. Ewu

He isnt fire lord, simply call him Tpain.

tobenuel:
What is fire lord Asiwaju from the sophisticated fire nation doing at the moment?

Islie:
https://dailytrust.com/tax-were-working-for-rich-to-pay-more-while-the-poor-pays-less-oyedele/

This guy is a crook

CoronaVirusPro:
Thats a brilliant one coming from the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR)

With the rich paying a fair share to alleviate the lower class, the class gap will be reduced to minimal and acceptable levels.

Who told you the rich aren't paying a fair share currently?

CoronaVirusPro:
Thats a brilliant one coming from the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR)

With the rich paying a fair share to alleviate the lower class, the class gap will be reduced to minimal and acceptable levels.

says a terrorist.

You are the illiterate here. Countries all over the world are creating incentives to attract wealthy people who in turn create jobs for the citizens by establishing businesses and the citizens work and pay tax, a win-win situation but your drug lord and his gang of thieves needs money to loot and cant wait to tax everything taxable instead of working to fix the country and provide enabling environment for economic growth

Buccalcavity2:
Correct! That's how to do it. But I want action Taiwo. Enough of policy statements.
Don't mind all the illiterates up there. They don't know better.

Nicepoker:
says a terrorist.

STFU morafvcker!

Fvck you!

Until Nigerians finds out which way we are heading to

The taxes of the rich and the poor in Nigeria since 1960 fetched Nigeria how many kilowatts of electricity? Not to talk about the trillion Dollars plus earned from crude oil exports. The little gains made has been erased by Tinubu's APC since 2015.
Wonder how some people believed this masquerade dancer would improve the economy and living standards in Nigeria.

When you heavily tax the rich,they will simply collect that money back by inflating the price of their products in their company....and who will buy those products? The poor people!

"...what we are doing now is inflation targeting to ensure price stability _

How can price stability ever be achieved with an unstable Naira? ... not at all into economics but this is what my common sense wants to know. It also wants to know with the current and sinking value of the Naira .... if N1.5m is considered rich ... what does it mean to be rich? ... one who can afford to feed his family two meals a day? Again.... there needs to be a coup and all these guys rounded up ... their assets confiscated and justice be served .... court or jungle justice... the latter preferred.

kettykin:
Notice how these ineptitude, inexperienced, incompetent, ignorant , imbecilic entities that had through their wrong policies brought the economy on its knees will now drive wealthiest people with their nonsensical policies.
.tell me what are you going to us the taxes to do if not to take crowds to Dubai and London and Paris buy jumbo jets, buy watches and yatches.

Firstly, cut down the cost of governance to the barest minimum before taxing the rich.

In the next 5 years there might not be private jets or wealthy people in Nigeria all because of the gross stupidity of apc government

Bunkum. Mr know all we have not heard of great industries that you nurtured and how your name is flying all over the world as the best economist. It is trite in Nigeria that the rich don't pay commensurate tax. Here they are talking about fiscal and monetary policy reforms and you bring up cost control and cost reduction issues.

kettykin:
Watch all our wealthy people relocate. This seems like the last straw.

Relocate where? Where they will pay more tax? Where they will be jailed for none payment of tax?

kettykin:
This government and foolocracy. Government of the fools by the fools for the fools. May God punish apc and their supporters. Useless demons.

Money government did not help me to make , they now want 25% of it. Fools without redemption

Where in the world would you make money without paying tax? Where is your legal right to query how resources are managed when you didn't contribute. Nigerians and their altitude. You want to go to heaven but you don't want to die. You want constant electricity without paying. You want regular PMS with subsidy. You want to attend the best university without paying the right fees. We want cheap imports from subsidized fx. We want the best infrastructure without paying taxes. We are a special breed.

kettykin:
Other countries are looking for every means to get the rich people come to their country with rebates, tax free for investment and these worthless, good for nothing, satanic government wants to use obnoxious policies to chase wealthy people away. Who will now employ the poor?

era of charity has gone....do you hear latest from world bank concerning our economy...go and be prepared.

Walai:
You are the illiterate here. Countries all over the world are creating incentives to attract wealthy people who in turn create jobs for the citizens by establishing businesses and the citizens work and pay tax, a win-win situation but your drug lord and his gang of thieves needs money to loot and cant wait to tax everything taxable instead of working to fix the country and provide enabling environment for economic growth

Just shut it you irredeemable Wailers!
The article says CIT is being reduced from 30% to 25%. If that is not an incentive for business growth, then what is? PIT is reduced for low income earners; what else will boost demand? PIT only increases for high income earners.
Expand tax net to everybody; not just 25% will be paying tax, yet 100% benefit!
Just go to that utopia (Maybe Biafra) that will not allow businesses pay tax!
No sound opposition. just Cho Cho Cho. Ndi borrowers to defend naira!

MrRichmond:
The average Nigerian doesn't understand economics, so I won't be surprised if they think this rubbish is good news

When you tax the rich, they leave to tax favorable places, they're not poor people that are hunkered down by location, they go with their money and then your economy goes poof!

Because the so called rich you are vilifying are the ones that run your companies and industries.

Another disaster loading.

Why do you think rich Nigerians prefer living and running their businesses here in spite of the imperfections? Try not to pay the required taxes in advanced economies and you end up in jail. Do you know that the ordinary Nigerians on PAYE are the ones that pay the bulk of direct tax. With all the properties and investments that the rich have what is the income that come through capital gains tax and capital transfer tax? Apart from CIT that their companies pay after heavy tax evasion, how much do they pay as PIT?

CoronaVirusPro:
Thats a brilliant one coming from the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR)

With the rich paying a fair share to alleviate the lower class, the class gap will be reduced to minimal and acceptable levels.

What minimizes class gap is productivity & better income not taxes. Excessive taxation is not an incentive for investments but a means of generating more revenue for government.

A wise man said somalia and Ukraine who is at war will be better than us with this policy.

These ediots keep pushing too far. Money these ediots did not help any Nigerian to make, they want to take even a wicked 25% from them. They should be ready to carry weapons because Nigerians will fight them with everything in their nerve and many will shut down their businesses for you and move abroad, then this useless government of apc and tinubu shall then see the real hell that the people can become against them overnight

Quite a few incompetent folks in this administration, look at this one from pwc, honestly without a brain, sorry to say. He should really tell us how many people in Nigeria make over N100m, how much it will raise and you’ll see that’s it’s a drop in the ocean compared presidential jet and new vp quarters. I’m guessing he has no clue how much this would raise otherwise he’d have said or is just been disingenuous. Either ways, not good.

Mr oyedele, the real issue is that majority of businesses operate under the radar and pay 0 tax. Employees already hit by the cost of living crisis are not the issue,
You need to be coming up with a plan to get clandestine businesses into the tax net and monitor their compliance. Also, you should be trying to drive productivity and growth, you can’t tax your way out of a recession my man.

What a damn shame from a “renowned tax expert”

CoronaVirusPro:
Thats a brilliant one coming from the administration of His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR)

With the rich paying a fair share to alleviate the lower class, the class gap will be reduced to minimal and acceptable levels.

Poor man. Zone B. Always Jealous of the rich

abba190:
and the rich will indirectly tax the poors to pay the tax

But the rich would have to actually produce some goods and services for that to happen, right? Currently, in Nigeria, what percentage of the rich produce goods that are consumed by the poor?