₦airaland Forum

helinues:
Let them start with business people and entrepreneurs first. I actually thought about it yesterday, something like EIN for business in USA.

That would boost online sales as most sellers would need to registered which their EIN which much tally with their names on record

You easily said it like the govt is actually using the tax to carry out any meaningful projects, what have they done with the tax being paid over the years?

lexy2014:
you did not answer my question.

if all the anti money laundering laws and policies the cbn has in place combined with bvn and NIN cannot stop money laundering, is it by giving people tax ID that money laundering will stop?

i did not say or meant stop money laundry in it entirety i said combat/minimize it. and i did answer your question in the past post. people having tax id means they have to report their earnings yearly and pay appriopriate taxes. now if Mr A declares he has 100,000 thousand naira yealy in income for the past 5 years. he goes to a car dealer last year to buy a car of 100 million naira. first there is no way he can put that cash into his bank account to make the payment without been flagged or explain were he got that money from in court. it is that simple. and like i said if this info is accesible by the public, individuals or even orgarnization can report people with unexplained wealth. either way the person would be jailed for either tax evasion and or money laundry

helinues:
Let them start with business people and entrepreneurs first. I actually thought about it yesterday, something like EIN for business in USA.

That would boost online sales as most sellers would need to registered which their EIN which much tally with their names on record

Good 👍,as you spoke well with sense too!
But Obtaining TAX IDENTIFICATION NUMBER( TIN) - should be For Business Regulations ONLY -NOT INDIVIDUAL THING - because if govt continues to regulate Individuals, instead of businesses,they will soon loose the Steam 🚂 of a taxable Economy.
We Should Be Productive, and Be Exports Oriented Economy - To Compete - with Global Leaders and To Earn More FOREX!

Pythagoras001:
i did not say or meant stop money laundry in it entirety i said combat/minimize it. and i did answer your question in the past post. people having tax id means they have to report their earnings yearly and pay appriopriate taxes. now if Mr A declares he has 100,000 thousand naira yealy in income for the past 5 years. he goes to a car dealer last year to buy a car of 100 million naira. first there is no way he can put that cash into his bank account to make the payment without been flagged or explain were he got that money from in court. it is that simple. and like i said if this info is accesible by the public, individuals or even orgarnization can report people with unexplained wealth. either way the person would be jailed for either tax evasion and or money laundry

That is not what I asked you?

What is purpose of "combating" something?

Where did you previously answer this question asked:

if all the anti money laundering laws and policies the cbn has in place combined with bvn and NIN cannot stop money laundering, is it by giving people tax ID that money laundering will stop?

Raye was very right about all she said.... I swear 100% correct.

When you vote a vampire what do you expect

Who is a taxable person , I'm who bas no tangible in come the person ?

Dalohad:
Tinubu is on overdrive to forcibly dip his hands into every Nigerians pockets agbero-style. That is the only way he knows how to generate funds, no other ideas.

A government that provides absolutely nothing to Nigerians who pump their own water and provide their own power with generators and Solar installation, has no business putting a gun to the head of Nigerians to ask them for taxes.

Under Ghadaffi, oil-producing countries like Libya paid their citizens monthly allowances, paid 50% for their cars, provided free water and power supply.

But Nigeria's Oil money remains monopolized by Tinubu (who is the Oil minister) and co., yet they still ask for more money to loot from Nigerian pockets. They are taxing your blood and the air you breath. They want to asphyxiate Nigerians out of existence. Are Nigerians slaves?

If Nigerians will not be allowed to live peacefully, even after allowing them (politicians) to monopolize oil wealth. Then we must radically find alternative ways of keeping our hard earned money away from eyes of greed of Mr Ojuyobo or even, push this government out of power, so we can breath.

Nigerians, is it not time for a revolution?

May this scourge never go beyond 2025..

You don't want to pay tax and you don't want government to borrow, kindly tell me where you want govt get money to meet all its financial obligations?

helinues:
Let them start with business people and entrepreneurs first. I actually thought about it yesterday, something like EIN for business in USA.

That would boost online sales as most sellers would need to registered which their EIN which much tally with their names on record

They can start wherever they like but need to stop these stamp duty charges

Paying 50naira stamp duty & still tax us is multiple taxation

lexy2014:
That is not what I asked you?

What is purpose of "combating" something?

is this a rhetorical question?

lexy2014:
Where did you previously answer this question asked:

if all the anti money laundering laws and policies the cbn has in place combined with bvn and NIN cannot stop money laundering, is it by giving people tax ID that money laundering will stop?

how is this relevant to my first post

Pythagoras001:
This is the proper thing to do. this is one stratergy of combatting money laundring their are still other things that needs to be done. just like everything with the country enforcement is the issue

their are loopholes in the current moneylaundry laws which proper taxations laws enforcement could block. people have been successfully prosecuted under the current money laundry act. i am trying so hard to make sense of this question and how it relates to my first post.
my post never mentioned anywhere at eliminating money laundry completely nor did it say that was the only stratergy at comabating money laundry. can you point the relationship between this question and my initial post.

I have a question, how will the unemployed access banking services if getting tax identification is mandatory?

Pythagoras001:
is this a rhetorical question?

how is this relevant to my first post

their are loopholes in the current moneylaundry laws which proper taxations laws enforcement could block. people have been successfully prosecuted under the current money laundry act. i am trying so hard to make sense of this question and how it relates to my first post.
my post never mentioned anywhere at eliminating money laundry completely nor did it say that was the only stratergy at comabating money laundry. can you point the relationship between this question and my initial post.

Pythagoras001:
i did not say or meant stop money laundry in it entirety i said combat/minimize it. and i did answer your question in the past post. people having tax id means they have to report their earnings yearly and pay appriopriate taxes. now if Mr A declares he has 100,000 thousand naira yealy in income for the past 5 years. he goes to a car dealer last year to buy a car of 100 million naira. first there is no way he can put that cash into his bank account to make the payment without been flagged or explain were he got that money from in court. it is that simple. and like i said if this info is accesible by the public, individuals or even orgarnization can report people with unexplained wealth. either way the person would be jailed for either tax evasion and or money laundry

That is not what I asked you?

What is purpose of "combating" something?

Where did you previously answer this question asked:

if all the anti money laundering laws and policies the cbn has in place combined with bvn and NIN cannot stop money laundering, is it by giving people tax ID that money laundering will stop?

GravityDefier:
It's about to go down. Illegal calculations of people's income (especially those who receive funds and disburse that's not theirs). Una go explain tire to banks

There is really going to be a lot of issues by making banks tax authorities, I don't know how they are going to identify, which money is profit or taxable income

Ijaya123:
You don't want to pay tax and you don't want government to borrow, kindly tell me where you want govt get money to meet all its financial obligations?

Get money to do what,for frivolities and unproductive ventures?
Which the government is known for,especially this government of Tinubu

Afrojuju2017:
So you want to develop a country where everyone who si resident within it's borders and under the sovereignty of the federal republic is not tax compliant and registered with a national identity number.

I don't know of any civilised nation that doesn't maintain that as a minimum standard. Where I reside you can't even apply for a job if you don't have a national ID number which doubles as your tax and revenue number, my bank account, passport, any business I run, my voters register even my property levy is noted against that ID, my driver's licence I don't even think it's possible to exist without it.

Where you reside? Can you mention the country please? Are they an Oil-producing country? Most Oil-producing countries like Nigeria e.g UAE, Saudi, Bahrain are either Tax-free economies or pay very low Taxes. How much taxes were Libyans paying under Ghadaffi?

Tinubu also doubles as your Oil minister, has he rendered account since taking office before asking for the blood of Nigerians as payment for taxes..

I know that BATorudeens will start quoting me to deceive Nigerians in their usual bid to promote state propaganda..

helinues:
Let them start with business people and entrepreneurs first. I actually thought about it yesterday, something like EIN for business in USA.

That would boost online sales as most sellers would need to registered which their EIN which much tally with their names on record

English ntoor

Dalohad:
Where you reside? Can you mention the country please? Are they an Oil-producing country? Most Oil-producing countries like Nigeria e.g UAE, Saudi, Bahrain are either Tax-free economies or pay very low Taxes. How much taxes were Libyans paying under Ghadaffi?

Tinubu also doubles as your Oil minister, has he rendered account since taking office before asking for the blood of Nigerians as payment for taxes..

I know that BATorudeens will start quoting me to deceive Nigerians in their usual bid to promote state propaganda..

Where did you read that UAE and Saudi are tax free economies ! They in fact pay more taxes in both these countries than in Nigeria.

They may have comparatively low tax to Europe but they are not tax free.

Validated:
Very good, all those N30k Anaechi laptop guys will now have to pay taxes.

even your mother's at the market will pay tax as long as they operate a bank account or mobile money service like opay/palmpay and earn more than 800k per year

Afrojuju2017:
Where did you read that UAE and Saudi are tax free economies ! They in fact pay more taxes in both these countries than in Nigeria.

They may have comparatively low tax to Europe but they are not tax free.

I doubt you truly live in a developed country if you are not aware that UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahamas, Singapore, Malta, Switzerland, etc are all tax-free countries that don't tax citizens and residents income tax.


Even in America, the below states are tax free:

Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming do not levy income taxes. Washington does not tax income but does tax capital gains of certain high earners.


States with no income tax may still charge other taxes, such as sales and property taxes.



Nigeria is an oil producing country with many other natural resources that the government have been exploring and wasting without accountability to the citizens. Despite our huge crude oil resources, we are still struggling to provide the most basic necessities like national security, healthcare and water supply.


Now tell me how forcing Nigerians to pay huge tax will make any difference?


Imagine you have been earning fat salary as a worker and you have been wasting it on drinking, clubbing, call girls and gambling and your company decides that promoting you with another increase in salary will make you more financially responsible, how is that possible? It will only make you engage in more financial wastes like increase in the amount you use to gamble with before, increase in the amount of alcohol you consumed previously and increase in the number and class of call girls you engaged with in the past, it's as simple as that.


Widening and tightening the tax net and enforcing strict compliance is not what Nigeria need now to come out of the woods that Tinubu pushed Nigerians into, unless you lack common sense and wisdom.



This Tax master ought to be forced out of Aso Rock before he wrecks Nigeria beyond repair honestly

surgical:
Get money to do what,for frivolities and unproductive ventures?
Which the government is known for,especially this government of Tinubu

You mean your governor only spend on frivolities and unproductive ventures?

Ijaya123:
You mean your governor only spend on frivolities and unproductive ventures?

no Tinubu, he is the one taking the lead which others are following, he is not showing true leadership
How many of the governors are junketing all over the world like him, wasting tax payers money none

surgical:
no Tinubu, he is the one taking the lead which others are following, he is not showing true leadership
How many of the governors are junketing all over the world like him, wasting tax payers money none

Your life will be a lot better if you focus more on your governor who are closer to you.

Otti just took another loan last month but there was no complaint.

With the increased allocations your governor is currently collecting from Tinubu, have you for once asking how the money is being spent?

franchasng:
I doubt you truly live in a developed country if you are not aware that UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahamas, Singapore, Malta, Switzerland, etc are all tax-free countries that don't tax citizens and residents income tax.


Even in America, the below states are tax free:

Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming do not levy income taxes. Washington does not tax income but does tax capital gains of certain high earners.


States with no income tax may still charge other taxes, such as sales and property taxes.



Nigeria is an oil producing country with many other natural resources that the government have been exploring and wasting without accountability to the citizens. Despite our huge crude oil resources, we are still struggling to provide the most basic necessities like national security, healthcare and water supply.


Now tell me how forcing Nigerians to pay huge tax will make any difference?


Imagine you have been earning fat salary as a worker and you have been wasting it on drinking, clubbing, call girls and gambling and your company decides that promoting you with another increase in salary will make you more financially responsible, how is that possible? It will only make you engage in more financial wastes like increase in the amount you use to gamble with before, increase in the amount of alcohol you consumed previously and increase in the number and class of call girls you engaged with in the past, it's as simple as that.


Widening and tightening the tax net and enforcing strict compliance is not what Nigeria need now to come out of the woods that Tinubu pushed Nigerians into, unless you lack common sense and wisdom.



This Tax master ought to be forced out of Aso Rock before he wrecks Nigeria beyond repair honestly

You only mentioned UAE and Saudi Arabia but now you've manufactured Bahamas Kuwait and a list as long as my arm out of your rear end

But because you choose to be ignorant
I'll furnish you with the respective official website of both UAE and SA governments where you can pay your Zakat according to islamic tenets and if you have a company you'll be obligated to pay corporate tax, you'll also discover there is value added tax, taxes in tourist facilities ( eg 10% on hotel room rate) if you are a foreign bank you'll need to give 20% over to the UAE government, there is excise duty ontop of VAT on tobacco and carbonated drinks, energy drinks and Vapes.

Take your time reading through ok
https://u.ae/en/information-and-services/finance-and-investment/taxation


https://zatca.gov.sa/en/Pages/default.aspx

Now unto taxation in Nigeria, VAT in Nigeria is 7.5% for which there are no VAT on many domestic consumables and agricultural produce, income tax starting Jan 2025 per the new law is capped at 25% and if you earn less than 800k annually you'll be exempted from any income tax. That is my lower rate tax where I live, I pay over 40% on my high band.
By my calculations Nigeria is a low tax country, I pay over £1.40 for petrol and over 60% of that is made up of taxes and duties.

You can tell me we have bad disastrous leadership and taxation is poorly defined and collected but please don't come online to start misleading the public that Nigeria is a high tax nation, that's the furthest from the truth.

Don't be ignorant next time ok

lexy2014:
Who are the "you guys" you are referring to?

What are "you" supposed to pay that they didn't pay?

Is government innocent of ripping off?

I can tell you that there is no one who collects rental income on residential or commercial property as an individual that will willingly decalre it as additional income and pay tax on it.

We were all happy to chop that money because the government couldn't track us. Now with access to your consolidated bank inflows and outflows via BVN, they will see certain credits in your account that you can't explain away. So you may not get assessed on those incomes.

franchasng:
I doubt you truly live in a developed country if you are not aware that UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahamas, Singapore, Malta, Switzerland, etc are all tax-free countries that don't tax citizens and residents income tax.


Even in America, the below states are tax free:

Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming do not levy income taxes. Washington does not tax income but does tax capital gains of certain high earners.


States with no income tax may still charge other taxes, such as sales and property taxes.



Nigeria is an oil producing country with many other natural resources that the government have been exploring and wasting without accountability to the citizens. Despite our huge crude oil resources, we are still struggling to provide the most basic necessities like national security, healthcare and water supply.


Now tell me how forcing Nigerians to pay huge tax will make any difference?


Imagine you have been earning fat salary as a worker and you have been wasting it on drinking, clubbing, call girls and gambling and your company decides that promoting you with another increase in salary will make you more financially responsible, how is that possible? It will only make you engage in more financial wastes like increase in the amount you use to gamble with before, increase in the amount of alcohol you consumed previously and increase in the number and class of call girls you engaged with in the past, it's as simple as that.


Widening and tightening the tax net and enforcing strict compliance is not what Nigeria need now to come out of the woods that Tinubu pushed Nigerians into, unless you lack common sense and wisdom.



This Tax master ought to be forced out of Aso Rock before he wrecks Nigeria beyond repair honestly

Bear in mind that those tax free US states you listed are only tax free for STATE taxes!! You will still pay FEDERAL taxes on your income.

And most of those states compensate for zero STATE taxes by having higher PROPERTY TAXES.

If you think govt gives you anything free anywhere, think again! You just don't know who is paying for it, but someone is.

COMPAQ:
I can tell you that there is no one who collects rental income on residential or commercial property as an individual that will willingly decalre it as additional income and pay tax on it.

We were all happy to chop that money because the government couldn't track us. Now with access to your consolidated bank inflows and outflows via BVN, they will see certain credits in your account that you can't explain away. So you may not get assessed on those incomes.

that is not what I asked you.

COMPAQ:
Be reminded that this government did not increase any single tax. All it is doing is ensuring the mechanisms are in place to faithfully implement what it has failed to implement all these years. So in actual facts you guys have been ripping off the government for decades by not paying what you should pay.

1. Who are the "you guys" you are referring to?

2. What are "you" supposed to pay that they didn't pay?

3. Is government innocent of ripping off?