In Support Of The Tax Reform Bills - Punch Editorial - Politics (2) - Nairaland
Nairaland Forum › Nairaland General › Politics › In Support Of The Tax Reform Bills - Punch Editorial (7638 Views)
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Chinjo2: 7:16am On Dec 04, 2024 |
This is the first time I will be supporting Tinubu's policies. Even the bible records that he who does not work should not eat. A lot of states are so lazy. Let VATs be paid to states according to the activities they generate. You can not be destroying alcoholic beverages and closing betting shops in the north yet you want to share in the VAT that accrues from alcohol consumption and gambling from the south. The north have a lot of solid minirals and massive land for farming but laziness will never allow them to harness it for the betterment of their people. They are just like almajiris who depends solely on others for survival. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Bobodee09: 7:16am On Dec 04, 2024 |
dealslip:Honestly am tired of reading people showing pure ignorance with so much boldness. Most of them don't even no the meaning of VAT to start with, imagine him saying oil companies paying VAT. Honestly people need to read more in this country cos it is appalling seeing an educated person writing about something he knows nothing about with confidence. 3 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Zico5(m): 7:17am On Dec 04, 2024 |
seguntijan:Can you explain with facts and figures how south east contribute 23% of oil production. Last time I checked, Ondo is even producing crude oil more than entire south east. Why do u guys always live on propaganda? 4 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Learner247(m): 7:22am On Dec 04, 2024 |
In all honesty, I think the Tax bills should be translated to Hausa and other major Nigerian languages, then a videographic illustration of what we have and what the new bills will make us to have, still in the major Nigerian languages should be produced and transmitted in all media houses anf Social media platforms for the next 2 weeks. The above has become necessary because it is now clear that many of us don't read, some read but don't understand English. Since we are more familiar with our languages and skits, it should be presented to us that way. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by elfico(m): 7:26am On Dec 04, 2024 |
Macphenson:Under the previous model, the state where companies have their headquarters will be the one to collect the tax. In this new one, the state where the product is consumed will collect it. Don't see how it benefits Lagos that much. 2 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Princedapace(m): 7:36am On Dec 04, 2024 |
Macphenson:We have to move forward. It is okay. I don't like BAT and I know that he does not do anything that will not favour Lagos. So, surely the bil will favour Lagos. But it is a good start. From here, other issues can start. We need to dismantle the structure of Nigeria abeg. It is not working. We need pure and true federalism. Nigeria is too large to be operating unitary federalism. Let to litigation start. All states go and hustle. U can't be eating Ur mining money alone. 3 Likes 1 Share |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by emkz: 7:39am On Dec 04, 2024*. Modified: 8:19am On Dec 04, 2024 |
Macphenson:1. Cars imported pay an import duty, not VAT. VAT is charged on goods and services by someone who sells or provide services. You need to understand the difference between VAT, import duty, air passenger tax, sales tax, property tax, church/pastor tax (tithes and offerings), hookup tax, extramarital affair tax, etc. 2. The port in Lagos where cars are imported does not belong to Lagos state. It belongs to FG and is operated by FG. Lagos cannot enter FG territory to collect tax. It is not done. There is another port in Lekki Free Trade Zone currently owned by the Chinese and one Singaporan firm. I am not aware that any state can collect import duty or custom duty. 3. Other states can develop their own ports so that not only Lagos will have a functioning port. 4. If you import a car through a Lagos port to use in Jigawa State, Jigawa can make money. Require that the car is registered with the state government and carry a plate number with the state on it. If it carries the plate number of another state, no problem. Charge them for driving the car in your state. 5. That a telco HQ is in Lagos does not mean all taxes collected goes to HQ in Lagos. Telcos do not need to pay tax in each state and pay in Lagos for the same service. Once you use their service in any state, the bulk of the service tax is charged to that state. There is no duplication. 6. For oil companies, having headquarters in Lagos does not mean anything. The bulk of taxes collected anywhere they have a presence stays where the economic activity that led to the tax happened. In other words, the more economic activity that happens, the more money a state makes. A state that invests in redundancy loses. There won't be chaos in the country. Right now, economically viable states are made to suffer, while economically backward states want to remain backward. The idea is to enhance competitive economic activities within the states. These are my suggestions: 1. Benue can invest in food processing factories and storage facilities and become the true food basket of the nation. 2. Kogi borders 9 states. Just put toll gates on each road and collect toll, Start thinking of exporting those granites littering Kogi State to China, Oman and countries not so endowed. 3. Edo State needs to go back to oil palm production and setting up soap making factories. That is their comparative advantage. 4. Anambra, Enugu and Imo need to take fabrication seriously. There is nothing you want to fabricate that Nnewi cannot do for you. China became a global power by copycatting what others had done and did theirs with different grades and quality. You see that shoe, fabricate it; Nigerians will wear. You see that grinding machine, fabricate it; Nigerians will use. 5. Adamawa, Jigawa, Sokoto, Kaduna, Kano, Borno, you see that your population and your vast land? Those are your strengths. Empower those youth with vocational skills. Teach them plumbing, carpentry, fabrication, metal work, masonry, forklift operation, long haul driving and focus on agriculture. You used to be known for groundnut pyramids, rice farming, millet farming, sorghum farming and wheat farming...what is going on today? Some of you are known for banditry and retrogressive practices. 6. Governor Zulum of Borno State. Your state is known for farming barley, a fundamental ingredient for making beer. According to report by Dataphyte, the alcohol consumption per person was at 81.53 liters per person in 2023. This means we drink a lot. Expand your cultivation and make good money. 7. Ondo, cultivate that cannabis. It has many universal uses and not only for drugs. Cultivate it, NOTHING will happen. Infact, let each state find what they are good at and go for it. 6 Likes 1 Share |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by happney65: 7:49am On Dec 04, 2024 |
iAmProgress:They are not. Absolutely not. Because they have absolutely nothing to say just blabbing and beating around the bush 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Teenaira: 7:53am On Dec 04, 2024 |
iAmProgress:If we allow the so called northern leaders, they will destroy the north and indeed Nigeria. The north as it is , is a threat to the continuous existence of Nigeria as a country. The north is as blessed if not more blessed than the other regions in Nigeria but the leaders are bent on holding down the region to stop it's development . Is this not the same north where we had groundnut piramid and other productive activities which have significantly added to the growth of Nigeria in the past ? Why is it that it is only Boko Haram, banditry, kidnapping and other forms of negativity that the north is preparing their youth population to contribute to Nigeria now ? The north has been in control of the resources of Nigeria for more than any other region and the result is, poverty for the north. Infact, extreme and unacceptable poverty to the innocent Nigerians who are unfortunate to be from that part of the country. This bill is yet another opportunity for the development of the north. Every youth in the north should please get these their so called leaders to raise their concerns about the bill rather than trying to kill it. 3 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by agabusta: 7:55am On Dec 04, 2024 |
Macphenson:Why are you exposing your ignorance to the world. The duty paid on cars, is it paid to Lagos state? The VAT from Lagos is not for Lagos alone but aggregated in a purse for joint sharing to the whole nation. That is the current practice. And the new law even makes it better. By insisting VAT by telecoms and others should be based on where the calls emanated from and not the head office of the telecom. Personal Income Tax is paid to state of residence and not HQ of company. All the oil companies pays land use charge to their state of residence. And not to Lagos. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by HIPOSOCRATES: 7:56am On Dec 04, 2024 |
Proposed VAT increase from 7.5% to 15% the next 6 years is on luxury goods. Essential commodities that are for d masses will be totally exempted from VAT . Kindly read the document to understand and not listening to d jaundiced view of some myopic individuals. If u want luxury, u should be able to pay for it. The tax reform bills are very sound. However, the function of the National Assembly is to look at the bills holistically, adjust where necessary . Wallade: 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Wallade(m): 8:02am On Dec 04, 2024 |
HIPOSOCRATES:You are missing something: the bill already indicated essential commodities to be food, housing, healthcare and education items. That neans purchase of mobile phone, data, airtime, laptops, shoes, clothes etc are not essential commodities hence will be chargedat 15% VAT. Maybe you didn't read the punch editorial that is the subject of the thread. I responded based on the information on the editorial. Define luxury item? Is data, airtime luxury to you? |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by NewDea4: 8:04am On Dec 04, 2024 |
Bobloco:Brown envelope has entered the mailbox |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by teejoyz: 8:11am On Dec 04, 2024 |
Tinubu is only doing them favour by introducing the Bill. By the time supreme Court finish their judgement on VAT then they will know what hit them 2 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Tayorshd87(m): 8:12am On Dec 04, 2024 |
Carazon:My brother may God bless your wisdom . |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Tayorshd87(m): 8:15am On Dec 04, 2024 |
Chinjo2:No mind them ..they close those shops and alcoholic center all because they are religious but they can eat from d money the non religious state are producing through same bet and alcohol 😂😆 Tinubu is d best president ever for this action 😆 2 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by AmiableMosquito: 8:21am On Dec 04, 2024 |
Bobodee09:Gbamsolutely!!!! |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by lionshare: 8:24am On Dec 04, 2024 |
Macphenson:Based on your post, it’s clear that you haven’t read the bill or fully grasped how import VAT is allocated. 2 Likes |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by smokinloud(m): 8:28am On Dec 04, 2024 |
olaiya2007:nor follow mouth, Lagos will gain the most with the Port situated in its territory. Lagos has made # 2.2 trillion from VAT this year and it's received less than #400b in the newly proposed derivative formula Lagos would have collected #1.37 trillion from the vat it generated the the first 10 months of 2024. |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by smokinloud(m): 8:33am On Dec 04, 2024 |
lionshare:He's right safe for the headquarters point. Lagos will be collecting 60% of importation vat. Other coastal states can invest in their ports too. |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by commoditiesnig(m): 8:44am On Dec 04, 2024 |
Bobloco:Brilliant piece from the Punch |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by commoditiesnig(m): 8:45am On Dec 04, 2024 |
iAmProgress:Gbam! |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Pythagoras001: 8:46am On Dec 04, 2024 |
State that cannot generate enough internally generated revenue should merge with other state which would reduce the unnecessary bureaucracy and political looting. We have to break away from the oil curse by force and give way to real economic growth. Government have to be forced to be creative in ways to increase wealth of the citizens of thier state so that they could generate more incomes simple as ABC. You would not loot tax of someone paying progressive tax to the rate of let say 40% 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by edogu(m): 9:04am On Dec 04, 2024 |
After listening to Seriaki Dickson, I'm in support of the bill. However, there should be more consultation and as well engagement/sensitisation of the public. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by aswani(m): 9:07am On Dec 04, 2024 |
seguntijan:North Central (aside maybe Niger and Nassarawa) can be flipped in it's entirety to balance things on this issue as can a few states (maybe Kano, Kaduna, Katsina) in North West. Hopefully all of the South can hold firm on this. Also, I am not sure were you are seeing 25% Oil production from the SE sha but in truth that is an aside. The "core North" have the advantage they do politically because we have way too many Southern politicians ready to do boy boy for them at the expense of their electorate. They can't be blamed politically. Census figures that are used to calculate these things are based on falsified figures anyway especially in the North were people are just told by the head of the household how many they have. In other cases apparently, livestock have been counted. It has always being thus. Until a Southern politician can stand up and speak on this and similar matters and his fellow Southerners back him or her, nothing will change. Look at PDP, informal zoning of their presidency to the South East, Atiku turns up with a lot of money, Southern delegates and people like Dino Melaye show their greed. Who should we blame, certainly not Atiku. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by Mrexcell(m): 9:14am On Dec 04, 2024 |
seguntijan:This data is really very scary. |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by essentialone(m): 9:14am On Dec 04, 2024 |
Taxes are cumulated and paid from the Head Office. So I support that the Tax be paid to the State that has been hospitable to the Company and given it room to do business. If anyone feels aggrieved, then attract new companies to your States, and stop making the companies already in your states to fold up or run away due to insecurity. If you love to eat, then you should also love to cook. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by dtiBusiness: 9:20am On Dec 04, 2024 |
iAmProgress:The Northerners are concerned that the major activities generating vat in the so-called highest generating states are due to Federal Investments and activities, they are not from efforts of the state's as claimed. So it's unfair to claim been more productive simply because a Seaports is located in your area. I quite agree that states should be encouraged to generate more funds for development, but that should be using their resources. Revenues accruing due to federal projects and services shall be shared fairly using the Federation sharing formula with specific purposes such as: producing and sustaining conducive environment for investment in all parts of the country. Aside the Federal presence (funded and sustained using our common wealth), most of the Northern states are more productive than their counterparts from the South. It's not difficult to realize that, simply ask people that are travelling. You can also witness it first hand if you were to count the number of trucks delivering goods of Nigerian origin to the south in converse to those delivering same from the south. For information sake, below is the contribution of agriculture to the gdp Northerners just want to correct the received mentality brought into this administration, whereby the best and most should go to Lagos, even at the detriment of other SouthWestern states like Ekiti, Ondo etc. Q1 2024: Agriculture contributed 17.22% to Nigeria's nominal GDP. This was lower than the first quarter of 2023 and the fourth quarter of 2023. Q2 2023: Agriculture contributed about 21% to Nigeria's GDP. Crop production was the largest contributor, accounting for nearly 19% of the GDP. The Tax collectors should equally know that the North (with mostly aggrerian economy) will witness loss of vat revenue if vat on food, medicine, etc is removed. Though it's a brilliant idea to help Nigerians afford food, medicine, transportation and eduction, but why should the North surrender her vat only for Lagos to collect 60% of what it generates. |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by EXPRESSSMAN(m): 9:27am On Dec 04, 2024 |
Meti99:This is the same way you talked about subsidy removal and floating of the Naira. |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by EXPRESSSMAN(m): 9:37am On Dec 04, 2024 |
Bobodee09:You are the one that is the illiterate. Can you pay duty without paying VAT on it? You don't know that you pay VAT on the amount of duty you paid, Mr literature. 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by silaswills01(m): 9:46am On Dec 04, 2024 |
I really don't care about this whole tax crap Besides what'd I ever benefited from.any of those policies The country should burn for all I care 1 Like |
| Re: In Support Of The Tax Reform Bills - Punch Editorial by yemmit90: 9:47am On Dec 04, 2024 |
Macphenson:That is not an excuse, infact i see this as layman thinking. Let every state focus on where they have competitive advantage. |
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