₦airaland Forum

jospepper:
Na to open plenty account the do 4 mil and below for we wey no too get money be that na.

All your Bank accounts are tied to one BVN. They will find out no how.

Apc and tulumbu want Nigerians to be accountable while he and his colonies spend lavishly and wrecklessly on taxpayers money.

5M naira is basically around $3,225 at 1550 naira to a Dollar


$3225 divided by 30 says is circa $107


So Government is saying that anyone in Nigeria who makes $107 a day or more should be on fraud watch


This balablu government is obviously hell-bent of institutionalizing acute poverty as a national heritage

These are tax laws for the poor masses. Tell me how this law would affect the politicians??

When I complained, they said the tax bill is good. This is but the beginning.
N.B.: I'm not a gbajue adherent!
Shalom

iCauseTrouble:
I am really scared as a freelancer.
I am not benefiting anything from this government. Why should I pay tax?

Same here I'm a freelancer and I don't depend on government. The thing get as eh be.

iCauseTrouble:
I am really scared as a freelancer.
I am not benefiting anything from this government. Why should I pay tax?

Relocate to a Country where they don't pay tax. Check online.

How can you tax a shop owner that has paid VAT on his goods and makes sales directly to his or her bank above 5m monthly

jospepper:
Na to open plenty account the do 4 mil and below for we wey no too get money be that na.

You will be monitored via Bank verification number BVN

Meaning even if the 5million is both capital and interest, it will be taxed or what? This govt should better find better work to do o!

JustMakeMoney:
Meaning even if the 5million is both capital and interest, it will be taxed or what? This govt should better find better work to do o!

Profits are taxed, not capital.
So, you need to get your books in order so that you can identify which is capital, which constitutes operating costs and which is profit.

If you made a loss, you're not paying tax.

As them put una for multidimensional poverty them still dey monitor una join so nobody go make am but God pass them

No bro, wouldn't enhance the citizen's life but make the thief thief government to be able to tax people anyhow. Taxing is a good thing if the tax is use in providing infrastructure etc for the welfare of the citizens but not the same with Naija. Anyway, this action would bring more disadvantages to the banks and Nigerians as a whole cos most citizens would stop making use of the banking sector for transaction.....and that implies disaster interm of security.....

lalabrother:
Lol 😂...

How is this supposed to help the lives of the ordinary Nigerian?

Bank are the reason why corruption goes unhindered . its practically impossible for politicians , contractors and business men to launder money without the active involvement of bank officials.
There is practically no banking hall in Nigeria where you will see it boldly stated that in accordance to Nigeria financial intelligence unit , banks are mandated to report to the unit in question if a transaction exceeds a certain threshold but the truth is no bank has ever done this.
They need this funds to stay afloat .

Mindlog:
"Nigerian banks have been mandated to report all customer accounts with monthly transactions exceeding N5 million to the country’s tax authorities".........Dem must extract tax from everything!

people are buying cars of #500m at once, Tinubu just want to dey thiv from people join thiving all. Government money finish

iCauseTrouble:
I am really scared as a freelancer.
I am not benefiting anything from this government. Why should I pay tax?

How can you say you're not benefiting anything from the government?

The public roads that you ply on was build with government money which came in through tax

inevitable

people have been using personal account for business and thereby dodging vat etal

this is closing the loophole

Another playbook aimed bat extortion, if not what's the relationship with inflow and tax authorities , money flowing through accounts have nothing to with with tax as they might just be turnover

GloriousGbola:
inevitable

people have been using personal account for business and thereby dodging vat etal

this is closing the loophole

Are you sure you even understand what VAT is ? Wetin concern VAT and wetin pass through person account

How POS people go take make money like this? Tax for money wey no be their own? Someone please explain

Crypto should be helpful here

More character for seun

Only people with Low IQ will support this omonile type of extortion

SmartPolician:
That's good. This should create new jobs for people. Banks are really cashing out.

How does this create any job to anyone? Una dey speak before una come online.

How does reporting your monthly income to government a job creation?

autoez:
All your Bank accounts are tied to one BVN. They will find out no how.

Who will be responsible for aggregating the figures from different banks cos I'm very sure no Nigerian bank will agree to send a monthly database of its customers transactions to the FIRS due to security concerns

DeOTR:
You can move to another country if paying tax in Nigeria is a problem for you while making the money living in Nigeria.

This is such a daft response. What is he as a freelancer benefitting from the government that has a direct or indirect impact on his ability and skills to make money, that should warrant him paying tax? Do you have any idea how hard it is as a freelancer to be able to setup working and reliable payment channels for getting money from abroad, especially if you're not working with Upwork and co, just directly with clients? And this is squarely the fault of the Nigerian government and their majorly archaic ways of doing things and engaging with the international community.

Most Nigerians pay to get their water, their light, refuse and sewage disposal, and many other amenities that should be basic. And on top of that, the government wants to tax them? How does that make any sense?

But with people like you backing them, I can see they will have no issues.

Kobicove:
Who will be responsible for aggregating the figures from different banks cos I'm very sure no Nigerian bank will agree to send a monthly database of its customers transactions to the FIRS due to security concerns

Probably CBN or NIBSS secretly taking the data. You understand

SalamRushdie:
Are you sure you even understand what VAT is ? Wetin concern VAT and wetin pass through person account

you know nothing

do you actually work or do you wail on the internet all day?

any receipt for a business service or sale includes vat as a line item. vat is 7.5%

any business in nigeria pays tax and vat will be calculated in all transactions

to get out of vat payment - smaller businesses make payments to personal accounts of contractors., sellers or consultants rather than their company accounts

it is obvious to banks what is happening as they can see cash flows into accounts

Suppression of the poor. They don't want the poor to have a say. When you are poor they can use you anyhow they like. Me wey dey exchange currency nko... Sometimes 2 million per day

Why should I pay tax for some old cargoes to embezzle?

EmperorIsaac:
W
N.B.: I'm not a gbajue adherent!
Shalom

Then u must be a bula berian but who wants to eat his cake and still have it

SmartPolician:
That's good. This should create new jobs for people. Banks are really cashing out.

pls explain how this will create new jobs and how it stops bank from cashing out

barika2011:
If by mistake.. this Tinubu enters for second tenure..we would be paying tax for breathing air...
OBI IS COMING

Then all taxes will be cancelled,he's really really coming ,hope he'll remove all taxes introduced by Tinubu because they're nuisance taxes because if not ehhh.

I want OBI to rule first let's see how it'll be .