₦airaland Forum

PaChukwudi44:
What about the oil companies?

Hummm exactly my thoughts.

A country full of billionaires whose tax returns doesn't reflect on the papers..

Skydivine:
The main problem is that almost all the companies listed there have their branches across all state in Nigeria.
So they make their money from these states but that profit is tallied at the headquarters in Lagos. Meaning In theory that a company in Lagos is making the profit and then the taxes are collected by Lagos government.

How is this right?

Have you heard of CITA and PPT? It's not everything that is brought online that everyone must do chochocho. Taxation is a technical issue.

Zombies think SMEs in alaba and ladipo should compete with conglomerates like Banks,Dangote. Compare him to Facebook at once let's begin another foolish argument. Do you know much those markets generate to Lagos State as IGR yearly or for 9months at least?

kedeojo:
They are noise makers. Ladipo, Alaba and computer village businesses can't pay up to 10b per year. Some stores in those markets don't pay more than 10k per month. Dangote is a blessing to Nigeria. Simple and quiet man, no bragging.

stonemasonn:
The so called monopolist paid more taxes than all the fuel importers. Nah jealousy go kill all of una.

Honestly, it just hatred. Just imagine for like ten years, the amount of money he has paid as taxes to the government. If being a monopoly has bitter people make us to believe and he pays this huge taxes, then let him be. Others don't even pay. Noise makers are just paying penny but they will tell you, they build Lagos. Combined all Thier businesses in Lagos and the tax they pay yearly is a peanut to what Dangote pay yearly in Lagos. Only his cement and sugar is this huge tax, let wait and hear of the taxes for 2025 of his refinery. Dangote is a blessing to the country. Fuel importers and big traders like Obi could not build refineries and traders who keep importing goods as sole importers could not partner with the parent company and build what they import to the country. They are criminals. Obi could not practice what he preach. Consumption to production my foot.

Where is mumuric

2aces:
I think it's high time the NNPC start paying tax to the government, since they now claim to operate as an LLC, hence they aught to be taxed like every other businesses operating in the country.

they are currently owning 6 billion to refineries for petrol imports. Let the FG clear the bill first they will pay taxes lol

Richtaiwo:
And I'm here ignorantly thinking the highest accrued from tax payment comes from 2 x 2 shops and fan yogo.

Stoopid, meaningless and childish comment.

Why not add civil servants, teachers and pensioners too. Or do you think they don't pay tax?. Despite the fact that the post stated that it's a list of quoted companies on NGX 30, you still had to show your inferiority complex here.

Where is Access Bank?

Skydivine:
The main problem is that almost all the companies listed there have their branches across all state in Nigeria.
So they make their money from these states but that profit is tallied at the headquarters in Lagos. Meaning In theory that a company in Lagos is making the profit and then the taxes are collected by Lagos government.

How is this right?

the only tax Lagos collects from them is personal income tax of the staff there. The rest goes to FG via FIRS.

SmartPolician:
What about Total, Shop, Shell and Chevron? Do they take everything they make from Nigeria to the west? It seems the oil and gas industry is a hype or their decision to divest has reduced their earnings.

NNPCL is supposed to be No. 1 on that list in a proper system.

onuman:
Foreign oil companies that are supposed to pay income tax with US Dollars pay with crude oil. They fc..cuk Nigeria front and back. They did not bring crude oil from their home countries to Nigeria.

Would crude oil production be classified under VAT? VAT is a consumption tax which would involve refining. So Dangote refinery would likely pay taxes for selling PMS to Nigerians if more than 25% (only due to the free trade zone limit).

Richtaiwo:
And I'm here ignorantly thinking the highest accrued from tax payment comes from 2 x 2 shops and fan yogo.

thats what they want you to think....

ibos are not big money players in nigeria....

MajorOvakporaye:
Yellowbar people will destroy this country.

... and Urhobiro is the way forward right?

PaChukwudi44:
What about the oil companies?

They are not locally listed. That's why. Good point tho, Shell alone pays about 1 billion USD in corporate and royalty taxes. Plus about 100 million USD to NDDC. Exxon does about the same. TotalEnergies slightly less, but is getting to the same level as they ramp up their deep water project developments. They contribute way more than any of the listed firms, both tax -wise and operationally.

SmartPolician:
What about Total, Shop, Shell and Chevron? Do they take everything they make from Nigeria to the west? It seems the oil and gas industry is a hype or their decision to divest has reduced their earnings.

They pay company income taxes and royalties I guess not VAT because VAT is a consumption tax and crude oil is a raw material not for consumption.

SmartPolician:
What about Total, Shop, Shell and Chevron? Do they take everything they make from Nigeria to the west? It seems the oil and gas industry is a hype or their decision to divest has reduced their earnings.

They're not locally listed. The title should be "largest tax paying listed firms." Shell is the largest contributor to the Nigerian state. Roughly 1.1billion USD in corporate and royalty taxes. Plus NDDC contribution. Exxon Total and Chevron have similar contribution profiles.

So She'll, Total and co only steal our resources?

press9jatv:
Wow that’s huge 90% of them are in Lagos State

100%.

Looking4Trouble:
Nooo. It comes from hawking Gala and La Casera inside Lagos holdup after running away from the other side of Niger Bridge.

But my Nigga, your mouth is bad, e go difficult for you to make Heaven

My joy is that idiots like you have been confined to nairaland.

If dem born una papa well, bring it to Twitter

SmartPolician:
What about Total, Shop, Shell and Chevron? Do they take everything they make from Nigeria to the west? It seems the oil and gas industry is a hype or their decision to divest has reduced their earnings.

The salary they pay the workers do you think it is clear eyes? IF a company has a good cfo and board, instead of paying those things as taxes they prefer to spend on staff and get staff loyalty. Nobody saves cost with the intent of giving it to the govt. When it comes to VAT, you may be surprised to find them in first ten but corporation ta will be small.

PaChukwudi44:
What about the oil companies?

Seplat is one, but no shell, or exxonmobil on the list

press9jatv:
Wow that’s huge 90% of them are in Lagos State

Over 90% of the headquarters of big companies are in Lagos. And this is why Lagos will forever cash out where these new tax bills are passed or not. Lol. This is exactly what Oyedele wants to change, and he said Lagos despite losing some revenue isn't opposing them. He felt the north would embrace them, but he failed to consider that the north are lazy to the core. The proposed tax system wants to track where the goods are consumed rather than where the headquarters are located.

Take for example MTN. Right now, Lagos is enjoy the whole of the derivative there. Where the north aren't concerned about derivative. They want just the equality and population fraction of the tax. Taiwo Oyedele has opened up their as.ses that they are extremely lazy.

USA owned ExxonMobil Dey play skelewo for nigeria.

Go to Guyana and see how they obey the laws. Go to Uk, see how they are loyal. Go to Angola.

But as long as them Dey nigeria, with the corrupt yorubas and Igbos encouraging them…. Smh

Dogalmighty17:
Are you mad? What has them being in Lagos state got to do with anything?

They may be based in Lagos but have most of thier operations all over the country and such make their money from these places.

If these companies were forced to exclusively pay taxes to each state they operate in and not to the federal government that will be a great deal. A company headquartered in Lagos but has its operating base in Nasarawa(like Dangote sugar) should not be paying a majority of its task to Lagos. The people in Awe local government of Nasarawa state, where dangote has a huge sugar cane farm, should benefit more.

This is actually part of what the new tax law intend to address. Kogi state go de cash out. Na make their current governor no loot am like the previous one

No it's not!
You can site your commercial location anywhere in Nigeria.

Ezmans:
is lagos not Nigeria commercial capital

The primary location is where the tax is paid. Stop acting confused, Nigeria is not the only country where businesses and taxes work. So other places are the consumers. Whatever is made in the north or east also have support market in the west. The beauty of it is that they can always relocate to the other area of their choice.

Skydivine:
The main problem is that almost all the companies listed there have their branches across all state in Nigeria.
So they make their money from these states but that profit is tallied at the headquarters in Lagos. Meaning In theory that a company in Lagos is making the profit and then the taxes are collected by Lagos government.

How is this right?

I don't see me in the list

He has a choice to open his company in his hometown, so there's something he's getting from us in return that only we can give him. How many lung reserch clinics has he opened in addition to the tax he's paying? Or hasn't he heard about companies that always take care of the communities where they are?

DuBLINGreenb:
The same Dangote you guys love to hate

He has a choice to open his company in his hometown, so there's something he's getting from us in return that only we can give him. How many lung research clinics has he opened in addition to the tax he's paying? Or hasn't he heard about companies that always take care of the communities where they are?

DuBLINGreenb:
The same Dangote you guys love to hate

PaChukwudi44:
What about the oil companies?

..Seplat energy is an oil and gas company..it's among them listed above