₦airaland Forum

Proudlyngwa:
Was payment for subsidy included in Buhari last budget

aylipple:
What happens at the end of 6 months if Nigerians aren’t able to “independently analyze the proposed changes and form informed opinions, free from government propaganda”?

Asking for a bill to be suspended for 6 months is a “lazy” approach to this Tax Bill controversy. Public hearings by the National Assembly have always provided opportunities for interested Nigerians, stakeholders and experts alike to contribute to contents of any bill before it’s passed in to law & this should be no exception.

If those who kick against this bill don’t seize the opportunity of public hearings to make their reservations known & then propose solutions/alternatives/alterations to the bill, that’s their own headache; it’s now left for constituents to hold their own Senators & HoR members to account to ensure the peoples’ interests are protected in this bill.

Georgry:
a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

femisplash:
Bearing in mind that 97% of revenue was used for debt servicing and we were also borrowing to pay for subsidy.
As an MD of an organization, if you met a net revenue deficits with high debt ratio on your company's balance sheet, what would you do?.

nwirinedu:
These are the conditionalities of excessive borrowings by our governments, they need to push these anti people policies so that they can continue to borrow without restrictions. These borrowings are the single cause of inflation, as flood the market with too much liquidity which is actually in the hands of a few.

Its begs the question if they can borrow anytime, they want why increase taxes? It's very obviously to the blind that the money used to buy jets, yatch and all luxuries from the ruling elite don't come from taxes. If govt need money it just prints or borrows.

This discovery was established decades ago.

Tayorshd87:
Subsidy cannot be there forever instead we must make a u turn to try other means since we want Nigeria to be like america .

TonyeBarcanista:
Have you read the bill or you only had opinion based on opinion of government promoters and agents?

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school dropout will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school dropout will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

femisplash:
Bearing in mind that 97% of revenue was used for debt servicing and we were also borrowing to pay for subsidy.
As an MD of an organization, if you met a net revenue deficits with high debt ratio on your company's balance sheet, what would you do?.

System202:
tinubu announced removal of subsidy and if wants he will make a supplementary budget for subsidy and he did not. Again Did Buhari float naira?

Kukutente23:
When did it became a law that Buhari last budget cannot be changed?
Are we still running Buhari's last budget? Did the last budget contain a ne PJ, new VP residence or new fleet of cars? Yeye

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school dropout will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

TonyeBarcanista:
To ensure transparency and public accountability, the government should postpone the tax reform bill for six months. This will allow Nigerians to independently analyze the proposed changes and form informed opinions, free from government propaganda.

Proudlyngwa:
The question is who stopped subsidy.

Stop deflecting

lapintoz:
🍃President Bola Ahmed Tinubu's new Tax Reforms Summarized.

1. Any business with less than N50million turnover are exempted from tax payment.

2. over 90% of workers in public and private sector will no longer pay income tax.

3. Over 82% of what low income persons consume will be VAT free.

4. scrapping over 50 nuisance tax suffered by local businesses.

5. VAT will no longer be calculated base on where the companies have their headquarters but where their goods are consume.

6. the rich to pay more tax while the poor will stop paying taxes..

7. Consumption tax collected by states will be eliminated completely.

8. FG share of VAT to reduce from 15% to 10% as states and LGAs now get 90%.

9. Those earning less than N1.7m monthly will now pay less income tax.

10. Customs, NUPRC and other govt agencies will no longer collect tax as only one Agency will be responsible for collection of all taxes in NGR.

11. Those receiving less than N9million per anum could have their income tax cut by half.

12. The bill could lead to abolition of other multiple tax laws like the stamp duty act.

13. Over 90% of small business would no longer pay profit tax.

14. Gradual increase of VAT from 10% in 2025 to 15% in 2030... With almost every goods consume by low income earners exempted from VAT.

15. Many NGR companies pay over 60 types of different tax & levies... The bill seeks to end this factor killing NGR industries.

You may not like the messengers ...But, the message is a good one .

Kukutente23:
Hmmmm

There is much commonsense here

Fix the nation before billing the people


The bolded shows that you do not understand the bill. The derivation in terms of collection does not change. So a portion of the alcohol part will still go to the north. Most of you think the VAT aspect is to ensure that VAT is collected where it is consumed and remitted to the state that consumed it while that is not the case.
You are simply using your bias against the north
Meanwhile, if you accept VAT income to be reduced for the North, expect a corresponding increase in cost of food items

EmperorCaesar:


Tinubu wasnt the President in 2016 and theres been a total cabinet change since then

The bill is straightforward enough and i wonder why people keep coming up with baseless hypothetical rhetoric beyond what is boldly written out for all to read and digest, just to paint the FG as bad and having ulterior motives

Empty articles everywhere

epainos:
I believe you have been paid to write this. Lol.

You are requesting six months to postpone what all hardworking Nigerians have been praying for since the beginning of democracy so that you can manipulate everything again for your own benefit. Lol.

1. What accountability do you want to give to someone earning N70,000 to N100,000 who does not pay income tax? Do you need six months to put this in place? You're wicked.


2. Do you need six months to ensure that oil-producing areas receive more revenue in proportion to their contribution to the national revenue? You are wicked.

3. Do you need another six months to develop a fair and equal reward based on what you give, rather than the many we receive even when we do not work hard? You are wicked.

maasoap:
The ones they have been receiving over the years including 13% derivation, what have they able to do with it? Nothing! It is funny and lack of deep thinking for many of you to believe that more money is the only solution to every financial challenge in Nigeria instead of accountability and transparency.
All these more money still end up in the pockets of the people in power

epainos:
I believe you have been paid to write this. Lol.

You are requesting six months to postpone what all hardworking Nigerians have been praying for since the beginning of democracy so that you can manipulate everything again for your own benefit. Lol.

1. What accountability do you want to give to someone earning N70,000 to N100,000 who does not pay income tax? Do you need six months to put this in place? You're wicked.


2. Do you need six months to ensure that oil-producing areas receive more revenue in proportion to their contribution to the national revenue? You are wicked.

3. Do you need another six months to develop a fair and equal reward based on what you give, rather than the many we receive even when we do not work hard? You are wicked.


You are a major enemy of the poor and the average Nigerian. And you have failed. You believe you can still manipulate poor Nigerians. Take a look at how many people have supported Tinubu, whom they despised.

We may dislike Tinubu, but we will never succumb to your manipulative tactics. This is a done deal. We are passing these bills. Guess what? Following this, we will immediately seek more resources control. Be ready to hug a near by transformer cos we are ready for you. Prepare for real debate and political struggle. We are ready to educate everyone and liberate them from your wickedness.

Bayelsa has supported these bills, and Ohaneze has also taken the right path. Time is up for you and Atiku, whom you have been supporting. Lol.

We are moving forward. Nigeria is moving forward. These bills are done deals. You would better face reality now.

Basic123:
YOU may dislike TINUBU.......Not "WE MAY"

epainos:
So?

E dey pain you? Ee ya! Again...We may dislike Tinubu, but we will support this bill. Get ready to hug the nearby transformer in your area cos these bills are done deal.

We go pass them soonest. And heaven won't fall....you.will also benefit from them...we will deliver you also from slavery. Lol....

epainos:
You that know the solution, go ahead and tell us instead of telling us to wait for six months pilot. We dey listen ...Mr. iTK without nothing to back up anything. Go ahead.

So, the few of you that wants the states to have more based on the so called equality we have presently and population, justify what they have used the ones they have collected to do. And tell us how it has benefited your ass all these years. Bravo....go ahead.

Talking of accountability and transparency....show us how the people you.are supporting have been transparent and accountable for what they have been collecting.

I bet it that you don't even understand what you are going into. You think this is like how you manipulate the public on the past? You sef...you don't even understand it. You are playing the music your so called leader have played that you should replay to the public. Guy, if you cannot do everything I asked you.here...don't ever mention me again...or I will roast you here that you will never use NL again.

Get the crap outta my mention.

maasoap:
More money is not problem of Nigerians but greed, corruption and lack of patriotism. The day many Nigerians realise that is the day we will start getting it right

Have you seen this thread? https://www.nairaland.com/8283593/higher-allocations-higher-states-debts

Kukutente23:
Tinubu stopped subsidy