₦airaland Forum

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

You don’t want to pay tax and you don’t want government to borrow, so how do you expect government to get money to meet her financial obligations?
Obi is coming to Onitsha

So if ur monthly transactions exceeds #5m u will automatically be additional tax even though u already paid tax on the proceeds that generated that #5m monthly transactions? They should come out clear on this.

Switch to decentralised system. U should only pay tax when U can see it's effect around U. Never pay to enrich the already rich thieves

PlasmaTV:
How is t good, please?
How will it create more jobs?

Eager to learn.

This is a move every same Nigerian should push for, it's not that you can't make transfers but anytime you make that volume of transfer your bank must notify authorities.

Now how do you check tax compliance without checking spending?

I'm not making my money in nigeria n not leavingin nigeria! So because I send money to my family members or send money to workers buildings materials I will now pay tax aha why?

Mrexcell:
So if ur monthly transactions exceeds #5m u will automatically be additional tax even though u already paid tax on the proceeds that generated that #5m monthly transactions? They should come out clear on this.

they are crazy

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

Because you are not paying tax, therefore you are not benefiting anything from government.

You guys should stop thinking our oil is enough for everything. Even minus corruption, our budget for this year is 33 trillion naira. We need something like 200 trillion before we can see some action.

I did not deny corruption happens, nor did I say tinubu is good. I am just telling you how things are.

Less than 40% of us pay tax. And you expect miracles. Even what government does is limited by that.

phemray:
And it's good not to pay tax Abi? 40 more characters needed. Lolz

people are evading taxes because they don’t have trust in the system. They believe rightly so that the money would be embezzled.

ednut1:
people are evading taxes because they don’t have trust in the system. They believe rightly so that the money would be embezzled.

Yeah, because most Nigerians have this funny idea that oil money is enough for all of us, and because people are too lazy to hold government to account

And then, ironically, low revenues means that government cannot do all the subsidising and give us the life of a saner clime nation.

Our budget is 33 trillion naira before looting, when we need something like 100-300 trillion or more.

When our country runs a resource dependent economy, that is what we get.

And the fun thing is...most african countries have the same issues.

lalabrother:
Lol 😂...

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

Just like in other advanced countries, it controls fraud, and makes money laundering more difficult.

so 5 million is a high value transaction?

Someone wants to weaponize poverty to win elections in 2027, it will not happen, Ise.

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!

We wen day do p.o.s wen day redraw and transfer all the time na how Dem wan take kill us

nlfpmod:
https://thenigerialawyer.com/banks-to-report-monthly-transactions-exceeding-%E2%82%A65-million-new-tax-law-enforcement-by-firs-begins-in-2026/

Banks will be required to monitor and report high-value transactions on a monthly basis to the Federal Inland Revenue Service (FIRS) and other relevant tax bodies.

For taxation. That's great.

Kaybaba5:
Pls Nigerians can someone explain to me how do we get here pls

if you move abroad won’t you pay tax?

The spectre of individuals getting richer than government must end from this. If an individual has N10 billion turnover account, nearly one quarter of N10b should go to govt as tax.

In this economy non taxable income should be pegged at N50million yearly not N800,000. Let entrepreneurs breathe, they need space to grow their business and employ Nigerians.

They are over-rating the value of naira for real...looking for another taxation avenue.

What can 5million buy that they think you're cashing out if you have turnover of 5m monthly.

Turnover in economics, includes your working capital...credit and debit inflows, whether its your money or not.

rainluv:
So your eyes did not read the "taxation" In there...abi you have cataracts?😏

yes but it's beyond taxation, I am talking about others

PlasmaTV:
How is t good, please?
How will it create more jobs?

Eager to learn.

I don't think he knows what he's saying.


I will just convert my naira to USDT. Whenever I want to do anything, I will convert and spend. These guys have made me lost hope in the system.

How can they try to introduce cashless system but discourage people from using the banks?

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

she doesn't see any problem paying tax but does not get corresponding return in terms of benefit is it fair so why do you expect her to continue...e get who like to throw away money .

Read with wisdom not emotions ...emilokan people

Ijaya123:
You don’t want to pay tax and you don’t want government to borrow, so how do you expect government to get money to meet her financial obligations?
Obi is coming to Onitsha

We dont have leaders that want to meet any obligations in this country since 1999 we entered democracy all we have seen is embezzlement upon embezzlement and their wives and children are living fat...we cannot empower thieves.

lalabrother:
Lol 😂...

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

It is more money to buy bullet proof landcruisers with enough prados, hilux for convoys, to buy new jumbo airliners as presido jets etc. Lol

nlfpmod:
https://thenigerialawyer.com/banks-to-report-monthly-transactions-exceeding-%E2%82%A65-million-new-tax-law-enforcement-by-firs-begins-in-2026/

But if your account doesn't have any inflow of minimum 200k monthly, shouldn't such cases be reported to Emilokan? That people he is governing are dying?

Una never see anything 😁😁😁

Emperor Zacheaus Emilokan, the Tax master. Bubu whipped you with whips but Emilokan is chastising you with scorpions..

"Exceeding million monthly..."

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

Man, use Payoneer and Transferwise (now just WISE).

Hahahahaha just laughing because all my money are in bitcoin, the small one I put in my Nigeria account I send it directly to my engineer who is handling my projects, I laugh again... For yorubas who bend in bringing Tulumbu back I hope they are not part of this new tax reform... It's either they join us and evict APC or they continue to suffer the ball is on their court to play . I rest my case

[quote author=SmartPolician post=136040313]That's good. This should create new jobs for people. Banks are really cashing out. [/quote

It seems you lack understanding of the subject matter. This doesn't affect Bank in anyway. Rather, affect customers.

President Tinubu should reconsider some of his policies. His coming has made japa very difficult because of exchange rate.
Even to go for self sponsored conferences is now unthinkable . He schooled abroad na, he should not close doors for others abeg..

UniQue84:
she doesn't see any problem paying tax but does not get corresponding return in terms of benefit is it fair so why do you expect her to continue...e get who like to throw away money .

Read with wisdom not emotions ...emilokan people

Better still to move to another country. You won't be the one defining the meaning of dividend of tax payments when the federal agents are on you.

theadeola:
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.

I believe you want to benefit from where you did not invest, that's why you don't want to pay tax until you get some form of benefits.
May I ask you where you want the "benefits" to come from if everyone is like you?
OK, so we should be paying while you benefit from our own sweats? Your brain is paining you.
These are the kind of people that want a better country, but they don't want to do their own part. Just keep it up. You'll soon realize why it is important to pay tax.
Shey you no dey benefit anything abi? You'll tell that to the FIRS what your definition of benefits is when they get your time.

Kobo wey I save for GT fund no gree come out. If u get where save your money please do. I don write tire visit call and question why my money dey hang. No reason. If Una so serious how did money steal billions then.