IMF: Property Taxes Can Help Nigeria, Others Develop - Politics (3)

IMF: Property Taxes Can Help Nigeria, Others Develop - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › IMF: Property Taxes Can Help Nigeria, Others Develop (13276 Views)

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Bouncingbabyboy(m): 9:02am On Nov 13, 2024

mrvitalis:
I have said it here for over 2 years , property tax is what is used to fund bulk of budget around the world

Every state can earn 300 billion minimum yearly from property tax

Lagos and Anambra can earn trillions

And this would always wake the people up and get them more involved in politics

We all know the money will end up in politicians pocket

1 Like

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Elusive001: 9:02am On Nov 13, 2024

Quelme:
Nigerians are chronic tax defaulters.

They don't want to pay tax but yet want their country to look like Germany.

What has your government achieved with the billions of dollars from crude oil over the years?

You guys continue to feed thieves in power with more funds to steal. You guys are the main problems and not even the politicians.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by ThunderfireNLMO: 9:03am On Nov 13, 2024

malali:
https://www.thisdaylive.com/index.php/2024/11/13/imf-property-taxes-can-help-nigeria-others-develop/

What is the business of IMF with internal affairs of Nigeria?

1 Like

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by michoim(m): 9:03am On Nov 13, 2024

IMF always making demonic propositions to African countries...What OECD/ Advanced countries gives(opportunities/incentives) to their citizens o African countries give the same to their citizens huh

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Mindlog: 9:04am On Nov 13, 2024

Quelme:
government is working but you guys refuse to see it.

Do we need to bend down to see it?

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Emmanuel900(m): 9:06am On Nov 13, 2024

SmartPolician:
Lagos State started collecting property taxes long ago. Afterwards, APC folks will be celebrating Lagos' huge IGR, but nobody cares about how it's being generated.

If other states tax their people the way Lagos State taxes residents, their governors won't be re-elected.

Most of Lagos state taxes are being generated from PAYE not property taxes, which mean it is from salary earners and other corporate workers in the state, the information is there online if you need verification.

The topic is not about Lagos state but I guess you goons must show yourselves with your perennial jealousy of Lagos state.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by malali(op): 9:06am On Nov 13, 2024

Lithiumite:
We know the ndi developers won't like this.....Lagos is already making so much from tenement rates but a state next door like Ogun state isn't making anything from the huge property revenue potential.

The good thing about the IMF suggestion on this is about domesticating it at the grassroot where revenues from this can be used to develop the local govts.

I beg to differ. Tenement rates/Taxes cannot e deployed in a country with over 50% unemployment with the workforce all seeking visas to relocate abroad.
You will just make matters worse. Nigeria has its own peculiar problems that require peculiar solutions. You cannot keep adopting USA/UK solutions to a country with dissimilar attributes.

95% of people paying property tax in USA/UK have jobs or are on a form of government assistance.

PS:Please leave out tribal connotations from your comments, except you are a bigot.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by preciousfeb(m): 9:08am On Nov 13, 2024

There are many developed countries in the world that are not Tax dependent such as UAE. The problem with Nigeria is corruption and not lack of funds.

If the available funds have been well utilised. NIGERIA WOULD HAVE BEEN GREAT.
IMF is just looking to stay in control and nothing else. Their suggestionshas never built any economy. A lender will always suggest to a borrower how best to recover his funds.

malali:
The Neo-Colonialists will not stop till every single Nigerian is DEAD.

1-Remove oil subsidy, the country will get better

2-Float the Naira the economy will be perfect

3-Now they are advocating for property tax on every house.

Why did we vote for legislators when fiscal policies are implemented on the directive of IMF and World Bank ? Removal of fuel subsidy and floating the Naira without a legislative debate and agreement by majority constituents in the house of rep and senate.....was an illegal and impeachable act.

2 Likes

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by malali(op): 9:08am On Nov 13, 2024

ThunderfireNLMO:
What is the business of IMF with internal affairs of Nigeria?

Thats the question our government has to answer, when you go and borrow money from people who eat children, when they start eating your children, you cannot complain.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Pickmycall: 9:13am On Nov 13, 2024

IMF is conniving with Tinubu to destroy nigeria.Tinubu is not interested in helping nigeria,it is because of the loans he Is getting from IMF that he want to steal that is why is he taking directive from IMF

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by advanceDNA: 9:13am On Nov 13, 2024*

Land use tax on properties is currently existing....what are they doing with the revenue...it's all embezzlement....

Now they want to introduce property tax...that's like double taxation which will lead to nothing but more embezzlement

IMF never tell Nigerian government to pay minimum wage obtainable in same countries but only want the pple to pay taxes obtainable in developed countries......

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by jaxxy(m): 9:14am On Nov 13, 2024

IMF will not state that effective anti corruption laws, accountability mechanisms and monitoring of public funds can help Nigeria and other countries?

without which taxes are completely useless? undecided

U cannot fetch water using a basket. undecided

1 Like

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by MarketDispatch: 9:15am On Nov 13, 2024

libertyfather:
House rent ooooo, wetin come be land use charge?

Land use charge is already Property Tax ...IMF simply wants Nigerians to be squeezed in every way possible until they revolt so that they can come and share the Juicy country.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by TJOS(m): 9:15am On Nov 13, 2024

When Tinubu completes his tenure, he will be the richest black man.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Charly68: 9:19am On Nov 13, 2024

What have they done with the taxes they have collected since independence.. We should withdraw the national honors given to some past leaders for leaving an indebted nation behind . They deserve no honor .

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Kennitrust(m): 9:19am On Nov 13, 2024

1st October, we celebrate independence

Who told you we are independent

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by seguno2: 9:20am On Nov 13, 2024

mrvitalis:
I have said it here for over 2 years , property tax is what is used to fund bulk of budget around the world

Every state can earn 300 billion minimum yearly from property tax

Lagos and Anambra can earn trillions

And this would always wake the people up and get them more involved in politics

Is property tax aka tenement rates for the LGAs or the state huh

The middle class are too clueless to understand the need for them to push for tax rates on the wealthy to make life easier for the poor and benefit the middle class the most.

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Re: IMF: Property Taxes Can Help Nigeria, Others Develop by omojeesu(m): 9:22am On Nov 13, 2024

EVIL COUNSELOR advising INSTALLED PUPPETS!

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by seguno2: 9:22am On Nov 13, 2024

jaxxy:
IMF will not state that effective anti corruption laws, accountability mechanisms and monitoring of public funds can help Nigeria and other countries?

without which taxes are completely useless?

U cannot fetch water using a basket.

IMF has said its own.

Are they stopping us from saying our own and WORKING our talk huh

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Re: IMF: Property Taxes Can Help Nigeria, Others Develop by mrvitalis(m): 9:23am On Nov 13, 2024

Bouncingbabyboy:
We all know the money will end up in politicians pocket

Why do you think the politicians are scared to push for it... Lmaoo

No body messes with middle class no body

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Lithiumite: 9:23am On Nov 13, 2024

malali:
I beg to differ. Tenement rates/Taxes cannot e deployed in a country with over 50% unemployment with the workforce all seeking visas to relocate abroad.
You will just make matters worse. Nigeria has its own peculiar problems that require peculiar solutions. You cannot keep adopting USA/UK solutions to a country with dissimilar attributes.

95% of people paying property tax in USA/UK have jobs or are on a form of government assistance.

PS:Please leave out tribal connotations from your comments, except you are a bigot.

If you would own properties you must be ready to pay taxes on them!! It's simple.....govt needs money and this money won't fall from the sky,we are a poor country as it is.

What I reckon with the IMF idea is the domestication of this revenue to the local government level where it can be used for development at that level ....there are heavily built up urban areas that lack basic amenities like roads,,schools and sports facilities,health care, security even public water.....many of these communities are already resulting to some self help initiatives which are never enough to do anything but if this revenue can be pulled to develop them,it is more than a welcome development.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by mrvitalis(m): 9:23am On Nov 13, 2024

Iamzik:
Whoever is thinking about introducing property tax in Nigeria right now is Wicked. Do you know the average cost of rental property at the moment?

Does government want to make people homeless in addition to the unbearable economic downturn since Tinubu removed subsidy?

The huge revenue they are currently earning from subsidy removal what have they done with it?

Other countries collect these taxes and fund education, healthcare, subsidized fuel and build infrastructure.

If you collect property tax will government put all the above subsidies in place?

We like to copy developed countries when it comes to taxation while at the same time advocating for government to take away subsidies that citizens should benefit from.

After paying all of these taxes and enduring inflation and extremely high cost of living what is the benefit of ordinary citizens?

So you think a 10% increase would kill people when their benefit would increase by 200% lmaoo

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Re: IMF: Property Taxes Can Help Nigeria, Others Develop by seguno2: 9:24am On Nov 13, 2024

omojeesu:
EVIL COUNSELOR advising INSTALLED PUPPETS!

Why did you allow EXTERNAL evil forces to install puppets for us?

Why didn’t they install puppets for other countries huh

1 Like 1 Share

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by mrvitalis(m): 9:24am On Nov 13, 2024

Elusive001:
Is revenue generation the problem of Nigeria?

Yes sir

200 million people generating less than 5 billion dollars yearly is a big problem

1 Like

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by mrvitalis(m): 9:24am On Nov 13, 2024

awoo47:
this will make rent skyrocket...
And you think it won't affect everyone? Lanlord will simply pass the cost on to tenants

Even if they do Max 10% increase in rent

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by mrvitalis(m): 9:25am On Nov 13, 2024

ClearFlair:
IMF don come again

People will always be wiling to pay tax if there's utmost transparency and accountability. Without those two, I cannot trust you with my money sorry.

You pay tax then that's give you right to demand transparency

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by Chucks13: 9:26am On Nov 13, 2024

Hello Mr IMF pls enough of your interference into our system pls shut da f u c k ok.

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by ZaddyJ: 9:27am On Nov 13, 2024

mrvitalis:
I have said it here for over 2 years , property tax is what is used to fund bulk of budget around the world

Every state can earn 300 billion minimum yearly from property tax

Lagos and Anambra can earn trillions

And this would always wake the people up and get them more involved in politics

You guys should stop spreading confusion up and down naw. The Saudi Arabia,Qatar libya who use their oil money to better the life of their people do they impose property tax on them ?
When we are supposed to be learning from the Arab countries we will allow one IMf to dictate the state of the nation for us .
Stop all this confusion that breeds suffering its getting stale and nothing is working anymore with it . We are tired of all the gibberish u guys are selling and it's not making a headway

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by COMPAQ(m): 9:27am On Nov 13, 2024

SmartPolician:
Lagos State started collecting property taxes long ago. Afterwards, APC folks will be celebrating Lagos' huge IGR, but nobody cares about how it's being generated.

If other states tax their people the way Lagos State taxes residents, their governors won't be re-elected.

N12k Land Use Charge na property Tax?

Im not sure even houses worth N500mln in banana Island pay up to N50k, when they should be paying like N750k annually.

On a $400k house in Houston, you will pay like $6k annually.

If Lagos properly targets property tax from the wealthy in VI, Banana Island, Ikoyi, Oniru and Lekki ph1, they can easily raise like N10bln

1 Like 1 Share

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by seguno2: 9:28am On Nov 13, 2024

mrvitalis:
Why do you think the politicians are scared to push for it... Lmaoo

No body messes with middle class no body

Tinubu and all the governors since 1999 have been messing with the middle class for increased IGR without providing government services, amenities and utilities to match.

How many of the 150 governors have improved water supply in line with the increase in IGR, mostly derived from the middle class huh

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Re: IMF: Property Taxes Can Help Nigeria, Others Develop by lucianohase(m): 9:28am On Nov 13, 2024

malali:
The Neo-Colonialists will not stop till every single Nigerian is DEAD.

1-Remove oil subsidy, the country will get better

2-Float the Naira the economy will be perfect

3-Now they are advocating for property tax on every house.

Why did we vote for legislators when fiscal policies are implemented on the directive of IMF and World Bank ? Removal of fuel subsidy and floating the Naira without a legislative debate and agreement by majority constituents in the house of rep and senate.....was an illegal and impeachable act.

This will result in another big problem for Nigeria which will make many homeless and will increase crime. Reason is, when u tax property owners, they will increase the price of renting out their properties, for those who have such. Then many who can't pay will be homeless. What do u expect, it will breathe crime, turn people to animals who will be easy and willing tools in the hands of all these sects since they will be told that the ruling class are their enemies. And they will start hunting innocent people and politicians who implement such policies. I pray that we don't get there, cos if we do, many people will carry sophisticated weapons and their target will be politicians. Just as boko haram have been doing . IMF should understand that the policies they have advised Tinubu and some other African nations to implement hasn't solved any problems at all, rather it has created more problems.

1 Like

Re: IMF: Property Taxes Can Help Nigeria, Others Develop by seguno2: 9:29am On Nov 13, 2024

ZaddyJ:
You guys should stop spreading confusion up and down naw. The Saudi Arabia,Qatar libya who use their oil money to better the life of their people do they impose property tax on them ?
When we are supposed to be learning from the Arab countries we will allow one IMf to dictate the state of the nation for us .
Stop all this confusion that breeds suffering its getting stale and nothing is working anymore with it . We are tired of all the gibberish u guys are selling and it's not making a headway

How does the population of the countries and their oil production compare with ours huh

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