₦airaland Forum

Learner47:
There's always a way sha. Na to use Business Account. I think about 250m before them task am. Individual account 50m. If you earn 50m per year govt go chop 12.5m.

I just pity gen-z & d next generation cause things just dey worst.

na PayPal be the way forward oooo. Na to find an honest person as escrow, while we received the fund through a Paypal verified vendor!!

trafficpools2:
na PayPal be the way forward oooo. Na to find an honest person as escrow, while we received the fund through a Paypal verified vendor!!

Afternic no come dey payout with PayPal…

bizbro:
Afternic no come dey payout with PayPal…

I'll simply stick with other marketplaces with PayPal payment options if this should happen!!!

trafficpools2:
I'll simply stick with other marketplaces with PayPal payment options if this should happen!!!

it will take effect from January 1st 2026. From what he posted

trafficpools2:
na PayPal be the way forward oooo. Na to find an honest person as escrow, while we received the fund through a Paypal verified vendor!!

May God bless all our hussle so that this becomes a problem for us in the first place. Na who earn pass 80K a month go border.

The problem isn't the receiving but in the spending. I swear to God I no ft use PayPal do transaction of like 100usd with stories I don hear.

Let's assume you eventually receive ur 20K without PayPal seizing d funds. And you get a vendor. Shey the vendor go send d naira equivalent to your account..na dt time d hungry FG go remove 25%. Abi if u wan buy property or car, d dealer go gree use PayPal. Na how to spend be d wahala. D solution na like business account even tho na to get this moniepoint POS business account dey run small business and dt one sef e b like na from 50m dem go remove their 12m.

Plus they said even tho you're exempted you have to file your transactions make them check am. I think that's where this CPA guy's come in for Geo names.

trafficpools2:
I'll simply stick with other marketplaces with PayPal payment options if this should happen!!!

Easier said than done…

Learner47:
But how have you guys been of help to my hussle.

This right here is the problem I have with taxes in Nigeria.

Paying taxes is not really the problem but the accountability (or lack of it) of those in charge. In a so-called democracy, the ordinary man is suppressed and doesn't have a voice. A country where the masses vote and a few people in court determines the winner.

I tell you, if I were in the UK, I'll probably feel less reluctant to pay taxes - even with the high rate. Those people in charge at least are more accountable. Political office holders there don't steal or embezzle so brazenly.

But, here those in political offices (and those close to them) use and mismanage resources without any real consequences. Anyone that protests gets treated very badly. So where's the incentive to pay taxes if one can avoid them? What can we convincingly say the government is doing for the common man?

U1:
This right here is the problem I have with taxes in Nigeria.

Paying taxes is not really the problem but the accountability (or lack of it) of those in charge. In a so-called democracy, the ordinary man is suppressed and doesn't have a voice. A country where the masses vote and a few people in court determines the winner.

Well put. I will conveniently "pay income taxes" if I were being employed by the govt. At least give what belongs to caesar to caesar.

But after hussling hard without access to any govt incentives, like access to loans or a meritrocate public employment process and in a draconian clime. Now they expect me to give them the proceeds from my income...d same folks shouting crypto is a scam and anything online na yahoo; Make dem dey play!

JAPAHTML:
There must be a way out boss

Verify with another country phone No. Use am dey receive code, but the problem here is ID verification
But we must find a way. No be today dem begin dey show us shege

That's the reason most Expats are relocating to Dubai. 0% income tax. But not sure what visa issuance status is with Nigeria currently

MrNovo:
That's the reason most Expats are relocating to Dubai. 0% income tax. But not sure what visa issuance status is with Nigeria currently

I swear or to relocate to one quiet Carribbean country. Already see all the stress we go to hiding our identity as Nigerians in our WHOIS & Outbounding. We all know an open WHOIS increases STR but we're forced to hide it. And the pain in the ass in outbound. You can't even call prospects, do video calls etc because you're afraid of the bad image of the country. Now after making a sale they want 25%.

What happened to the legend: Who knows maybe he dey one Carribbean island dey chill. Swapped identity & all.

bizbro:
Easier said than done…

because you believe everyone must use them!

Learner47:
I swear or to relocate to one quiet Carribbean country. Already see all the stress we go to hiding our identity as Nigerians in our WHOIS & Outbounding. We all know an open WHOIS increases STR but we're forced to hide it. And the pain in the ass in outbound. You can't even call prospects, do video calls etc because you're afraid of the bad image of the country. Now after making a sale they want 25%.

What happened to the legend: Who knows maybe he dey one Carribbean island dey chill. Swapped identity & all.

Yeah, once you have the funds the first investment should be acquiring another passport that allows you travel/ relocate easy. Tayo Aina finally realised that. Then you pick a country with lowest personal income tax and viable business environment. Watch the trend with other expats and you can't be wrong.
As for John, I doubt if it's a conspiracy theory. But hey, with the kind of money and brains he got, he can pull anything off. Dude grew up in the barracks, was building software to clean up viruses, they originally created and infested us with his been shady for a long time

No sales in June? Breathe. 🌿

Even seasoned domainers with 2,000–5,000 quality #domains only closed one sale in month s sometimes

So if you’re still growing, learning, and holding a smaller portfolio, there’s truly nothing to worry about, feel desperate for, or judge yourself over.

🌬️ Trust the flow. Sometimes the harvest comes in waves, not days.

July is different.
It is a special month,
It carries a powerful shift.
A sacred transition.
The beginning of a new chapter,
the second half of the year.

Relax your mind, align with your purpose, and stay consistent.

Your June sale might just be waiting to arrive together with July’s blessing.

Instead of worrying, use the last two days of this month to expand your consciousness and cleanse your mind and body.

This will sharpen your awareness and align you with the power of intention, so you can enter July renewed, focused, and magnetic to the blessings this new chapter holds for you. ✨

Detox from social media, apps, news, and the flood of meaningless information.
Take a moment to disconnect,
to isolate.

The answers you seek aren’t in another notification…

They’re in a different kind of app:
"Collective Wisdom".
It’s always been within you,
waiting in stillness.

“The more you struggle to live, the less you live. Give up the notion that you must be sure of what you are doing. Just take action.”
-Baruch Spinoza

Copied

I am not an accountant and I have not read the new tax bills. However, I feel that many of the fears expressed above about the new tax system is UNFOUNDED. Let me assure us that nobody will earn 50m and Pay 12.5m as tax. The reason is simple. It is not all monies that you earn that is taxable. Domainers like all businesses carry costs:
1. cost of the domain
2. Data costs
3. Power costs
4. erjo costs abi you no pay for scrapping?
All costs must be found before applicable tax is applied.

Secondly, if this bill mirrors the standard practice in other jurisdictions where we copy from, then no bank or payment system operator is authorised to deduct 'any' money from you account in the name of tax. They are only required to render 'returns' of transactions that they processed within their system. It is then the job of the taxman (revenue service) to isolate those who have not filed returns and then go after them. That is why you hear them dragging celebrities and footballers abroad to court years after their taxes are due. If they could debit their accounts at source then this would not have been necessary.
The responsibility of filing tax returns is on YOU. It is when you fail to do this that the taxman will do it for you and then send you a tax bill. You don't want that to happen . Even at that you have a right to contest their bill, that is what accountants (what Americans call CPA's) are there for. My former employer here in Naija once did this and got a write back. A good accountant can help you manage your tax bills better than you'd expect. A creative and smart accountant can come up with costs that you don't even know your business carries and can also point out some tax rebates and writebacks you are not aware you qualify for. So I think we should calm down and see how things unfold sha. Like I said I am no accountant or lawyer, but if this bill authorises banks and payment services to debit customer account directly, then just know say court cases go surplus because e no go funny.

chicfarmer:
I think we should calm down and see how things unfold sha. Like I said I am no accountant or lawyer, but if this bill authorises banks and payment services to debit customer account directly, then just know say court cases go surplus because e no go funny.

Well put and nice clarification. I think those with accounting/finance background will understand everything more.

This country sha gangster..na laugh I dey laugh here. Just imagine another agency like Efcc aka yahoo boyz police pops up as tax police and gradually transition to something else beyond their tenets. If you no remit expect jail time.

U1:
This right here is the problem I have with taxes in Nigeria.

Paying taxes is not really the problem but the accountability (or lack of it) of those in charge. In a so-called democracy, the ordinary man is suppressed and doesn't have a voice. A country where the masses vote and a few people in court determines the winner.

I tell you, if I were in the UK, I'll probably feel less reluctant to pay taxes - even with the high rate. Those people in charge at least are more accountable. Political office holders there don't steal or embezzle so brazenly.

But, here those in political offices (and those close to them) use and mismanage resources without any real consequences. Anyone that protests gets treated very badly. So where's the incentive to pay taxes if one can avoid them? What can we convincingly say the government is doing for the common man?

Well Said!! As a matter of fact, I feel happy to pay my taxes in my country of residence. You know why? We get rewarded one way or the other, for filing & paying taxes. I got over $4k as tax refund from the Government for the last tax season. That said, the way Nigeria has deteriorated cannot be explained enough, sometimes when I read this thread, my heart goes out to domainers here, imagine, to buy a single domain is a problem, you have to register on one 3rd party app or the other, and then go through lots of unnecessary stress, when we should be able to buy such things directly with our bank cards hassle-free.

The abundant resources the country has is being squandered and stolen already, now, they are adding this tax thing to make life even worst for young Nigerians, we all know the tax will still go to the politician's pocket after being collected, so it's dead on arrival. Like someone said up there, if you're able to make something for yourself in domaining, the next better investment is to get a second passport, it's something underemphasized and worth doing... My life would have been so difficult as a domainer (just a hobby btw) if I only Identify as a Nigerian or work with only the things Nigerians have access to.

chicfarmer:
I am not an accountant and I have not read the new tax bills. However, I feel that many of the fears expressed above about the new tax system is UNFOUNDED. Let me assure us that nobody will earn 50m and Pay 12.5m as tax. The reason is simple. It is not all monies that you earn that is taxable. Domainers like all businesses carry costs:
1. cost of the domain
2. Data costs
3. Power costs
4. erjo costs abi you no pay for scrapping?
All costs must be found before applicable tax is applied.

Secondly, if this bill mirrors the standard practice in other jurisdictions where we copy from, then no bank or payment system operator is authorised to deduct 'any' money from you account in the name of tax. They are only required to render 'returns' of transactions that they processed within their system. It is then the job of the taxman (revenue service) to isolate those who have not filed returns and then go after them. That is why you hear them dragging celebrities and footballers abroad to court years after their taxes are due. If they could debit their accounts at source then this would not have been necessary.
The responsibility of filing tax returns is on YOU. It is when you fail to do this that the taxman will do it for you and then send you a tax bill. You don't want that to happen . Even at that you have a right to contest their bill, that is what accountants (what Americans call CPA's) are there for. My former employer here in Naija once did this and got a write back. A good accountant can help you manage your tax bills better than you'd expect. A creative and smart accountant can come up with costs that you don't even know your business carries and can also point out some tax rebates and writebacks you are not aware you qualify for. So I think we should calm down and see how things unfold sha. Like I said I am no accountant or lawyer, but if this bill authorises banks and payment services to debit customer account directly, then just know say court cases go surplus because e no go funny.

Hahaha 😂

chicfarmer:
I am not an accountant and I have not read the new tax bills. However, I feel that many of the fears expressed above about the new tax system is UNFOUNDED.

I feel slightly the same way, too. I'm just not overly bothered at this time.

The article that was quoted on this issue seems a bit iffy to me - probably some clickbait. 🤨 It indicated that annual earnings less than 800k - up from 300k - will be tax-exempted. That means only those earning less than 70k monthly will not pay tax. How many people can survive on such a salary, especially in a city or town?

It also included the following paragraph:

"In 2023, Intelpoint, a research and analytics company, found that only 10% of Nigerians earned above N100,000 monthly. As a result, more Nigerians would be automatically exempt from paying personal income tax."

Really?

Omo, make we just dey look. Will the government now assume all money that comes into my account is an income from a job or side hustle?

Check this thread they are always available and reliable https://www.nairaland.com/3525491/buying-selling-Paypal-Skrill-Crypto

From dynadot. That should be less than #11K for a dotcom

All these registrars dey encourage boys sha…

codemaniacs:
this conversation has ended.. share sales reports

so please do not quote me. I will not respond to your quotes but I will answer since you did not see the answer in the 1st sentence of the comment you quoted.

the answer in summary is = north had a continuous deficit balance of payment yearly until 1914..

which means all the money north including all the 19 states in the north has been getting since 1914 to 2025 has been the surplus of southern Nigeria's wealth ( which also means all the I:G:R reports are fake especially the ones from the north ).

which also means if southern Nigeria's surplus can take care of 19 states in the north then if 1914 amalgamation never happened southern Nigeria would have no poverty at all ..

so when people say Nigeria is poor... I get triggered, especially when it is coming from a southern Nigerian...

SHARE SALES REPORTS.. I won't respond anymore..

this thread has turned people to n:ai:ra m:illion:aires and those m:illion:aires can abandon this thread if it gets derailed and create their own private groups or stay as lone wolf especially with more Nigerians suspecting wyte people don't want Nigerians and other black people to be rich even in their own black countries.

Your analogy of deficit balance is a result of admistrative failure. Before the advent of oil, was agriculture not part of the mainstay of the economy? That the country has failed to get maximum input from agriculture due to one problem or the other doesn't mean that it can't be viable means of food and foreign exchange for the country. Even, with all the problems. Northern part of the country produces bulk of the food we consume today in Nigeria. So, I disagree that they are unproductive.

Pls I just want to start the domain buying and selling business. Which registrars can I buy domain from for the cheapest price even if it is for the first time user?

Bayajjidda:
I was refunded almost immediately on the same day I mistakenly attempted to transfer the wrong name to them. However, they refused to use the funds for the correct name, stating that it was against their policy—so they simply refunded me instead.

As for transferring out, make sure you cancel the domain subscription at least one month before expiration. This is the same as canceling auto-renewal. If you don’t cancel the subscription before transferring out, they will still expect you to pay for the domain renewal, even after the transfer. So, to avoid unnecessary charges, always cancel the subscription for any domain you don’t plan to renew with them— of course, you dare not, in this tribulation! $26.99 na anybody mate 😂

Please can you show me where to cancel my subscription or credit card? I have already transferred out to Unstoppable but my names still show there.

Weird.

Learner47:
Chatgpt will help u do this.. intelligent, well put response. Even sales letter sef.

Most times it's better not do anything from experience. Some will even say I want to buy now and will ghost. Any person wey go buy go buy.

All d best.

Thanks. I used it. Hopefully it turns out positive

LeoroxFx:
Pls I just want to start the domain buying and selling business. Which registrars can I buy domain from for the cheapest price even if it is for the first time user?

Frankly speaking, i don't think people sell domains again. I outbounded on my 7 names thrice in 3 weeks now, yet no sales. The business is not a viable one at all. I have been doing kindle publishing but having hard time to find a mentor. Go into kdp or YouTube (they're the only easy way to make consistent money online in Nigeria)

Domain Hold Time: 7 months
Initial BIN Price: $1,000
Reduced BIN Price: $500
Final Sale Price: $200


Yesterday Sales. I bought this domain late last year, knowing it was a gamble. It had only one real end user, so I knew from the start it wouldn’t be a fast flip.

After the purchase, I reached out directly to the end user. They replied once, basically saying:"Not interested. I’m fine with the domain I’m already using."

After some time (and no bites), I dropped the BIN to $500, just to stay realistic based on the length and niche nature of the name.

A few weeks ago, someone made a $100 offer. I didn’t accept. Instead, I told Afternic to push back at $300, which was still within striking range of my BIN. After some back and forth with the buyer, we finally landed at $200.

Senkasa:
Frankly speaking, i don't think people sell domains again. I outbounded on my 7 names thrice in 3 weeks now, yet no sales. The business is not a viable one at all. I have been doing kindle publishing but having hard time to find a mentor. Go into kdp or YouTube (they're the only easy way to make consistent money online in Nigeria)

Selling domains is still profitable provided you buy good names and most importantly willing to take risks.

Underdawgg:
Domain Hold Time: 7 months
Initial BIN Price: $1,000
Reduced BIN Price: $500
Final Sale Price: $200


Yesterday Sales. I bought this domain late last year, knowing it was a gamble. It had only one real end user, so I knew from the start it wouldn’t be a fast flip.

After the purchase, I reached out directly to the end user. They replied once, basically saying:"Not interested. I’m fine with the domain I’m already using."

After some time (and no bites), I dropped the BIN to $500, just to stay realistic based on the length and niche nature of the name.

A few weeks ago, someone made a $100 offer. I didn’t accept. Instead, I told Afternic to push back at $300, which was still within striking range of my BIN. After some back and forth with the buyer, we finally landed at $200.

Congratulations boss.

iykepromotions:
From dynadot. That should be less than #11K for a dotcom

Buying is not always the issue.. Selling is the bigger problem. Have you sold a domain name before? Be sincere

Senkasa:
Buying is not always the issue.. Selling is the bigger problem. Have you sold a domain name before? Be sincere

na our boss you dey ask this kin question? All these newbies self. Wetin carry you come here ? Face your kdp and YouTube that's viable. Leave domain business alone for us make we dey manage am