₦airaland Forum

This govt is killing us with taxes. When you pay somebody for professional services, he is supposed to pay personal income. Withholding tax is paid on income receive from interest on money invested on any venture. For example, If I give somebody N100k and he is to pay interest of 10% every month which 10k, the government charges 10% on the 10k as withholding tax. Incase of the senior lawyers above, may be the government did not pay the legal fees on time and it attracted interest and that is they are being charged withholding tax on the interest received.

regenerateman:
This govt is killing us with taxes. When you paid somebody for professional services, he is supposed to pay personal income. Withholding tax is paid on income receive from interest on money invested on any venture. For example, If I give somebody N100k and he is to pay interest of 10% every month which 10k, the government charges 10% on the 10k as withholding tax. Incase of the senior lawyers above, may be the government did not pay the legal fees on time and it attracted interest and that is they are being charged withholding tax on the interest received.

Your understanding is partly incorrect, atleast in the Nigerian context of WHT. Withholding tax is not a tax on income interest, but on the income itself.

If you pay 100K to a supplier, and that supplier is not exempt from WHT, the supplier is due to pay 10K as WHT on that money. Again whether withholding tax applies or not will depend on the size of the supplier’s business and what type of goods are involved in the transaction.

Lastly, WHT applies to the income of the business and not personal income as you insinuated. If the FG delays in paying the supplier can charge interest on outstanding debt (but this is often not enforced).

loadman:
They work for it
That is not news

They stole for it. Even Trump or Biden lawyer no receive such

Obi would have make a good bargain and paid all of them within that spade of 3 years less than 100 military, instead of that 1.1 bili

Jorussia:
People were paid for services rendered,i don't see how this should be a news worthy material, except Sahara reporters wants to be mischievous as usual.

Typical yoruba man .
If these money were paid to igbo men by igbo president, oll boy , come hear him spill like a sound person

biafranrealson:
Typical yoruba man .
If these money were paid to igbo men by igbo president, oll boy , come hear him spill like a sound person

You nor see igbo lawyers among the people dem pay money to.I know say u nor bother reading the report.so u don count me wen be bini join Yoruba?I am not even a fan of Afe babalola.Afe babalola is known Tinubu hater and Obi lover.

Can you see

See cashing out....omor!

wizdooarchy3:
T-pain settling his kingsmen and election riggaz..
You call it "PROFESSIONAL FEE"
We call it "SETTLEMENT FEE"

please can you do another image with the chain broken
Written on the broken chain,poverty, nepotism, corruption, tribalism, oppression etc
Caption 2027 Nigeria year to break free
Thank you

Hmmm. As bad as this looks, it is still chicken change compared to what the average Senator or Governor lavishes on his side chicks every weekend!

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Paddy paddy system

If it’s not transparent will you be able to have the data where you got it from?

helinues:
So what should we do about this

Yele would soon reach the bottom of Mariana Trench

Exactly. Should we go and open law chambers without law degree🤷🏿‍♂️😂😂

Dele book comes to mind.

A scratch my back govt.

chatinent:
Dele book comes to mind.

A scratch my back govt.

Sowore is a slowpoke, Farotimi too.


-Kiss the truth!

yoruboid:
What’s wrong with paying lawyers of their standing their legal fees?

I’m sure those fees are even discounted. You need to find out how much corporates pay to engage them

Do you mind them? They are crying because Afe Babalola's name appeared there.

opes:
And some are saying government has pocketed the judiciary, then why is the same government paying big for the services of top solicitors?

Think about it... Think

Dele farotimi will be observing this happening right now

i feel say them say you dey jobless

helinues:
Money na money seh. Quarter is better than nothing

We go see money spend for this December while some people go see vain and pain spend as they wasted their own year chasing the shadows of those who are making money from different means

What are we suppose to do with this news now.

.

https://www.youtube.com/watch?v=zlbgYR2NK5c