₦airaland Forum

donmixc:
tinubu wants to loot all the monies within 4 years

omo this man na real thief ooooo

Pay tax and stop crying

Beremx:
Is this a joke or what? What's this tax tax tax?

Oga Tinubu, Nigeria is not UK o!! You better be careful

Countries una dey sell una properties dey go se una no dey pay tax ni

RealityKings1:
You want to tax people who are barley surviving from frying akara by the road side too

People frying akara dey build house. Pay tax alaiye

Lovenorth:
They should also obtain tax receipts to be allowed to vote in the coming election

Exactly

Awesome01:
You are on point. He did it in Lagos through Alfa Beta as Tax Consultant. It made Lagos State generate more and more revenue but it forced everyone to pay tax through their nose.

I had always suspected this to come-in one day to Nigeria as a whole.I was expecting it come up after he wins his second term in 2027. Now its here.

He may have Indirectly just shot himself in the leg, because If true THIS POLICY MAY ACTUALLY BE THE DECIDING FACTOR COME 2027 ELECTIONS.

I tell you,if Nigerians unite him,he is a gooney!!

U1:
Where did you read this? And did you mean money received into a bank account would be taxed? What if such is foreign remittance for upkeep or personal projects in Nigeria?

The maximum annual income that's tax exempt under the new tax law is not more than N1 million. It's actually 800k per annum, but there are unconfirmed reports of a probable 200k tax exemption.

This is not fresh news, actually. It's been around for months.

They call it personal income tax how do you think they will tax informal working class people? It different from PAYEE so their own would be like once year thats the accumulation for the year ... you mentioned that what if it foreign remittance or up keep .... do you know that people work online while in Nigeria even if it a Bonus from your work place it will still be tax

I have said it time and time again that Bola Tinubu is just a Tax Collector. Nigerians enter genuine, original One Chance APC motor.

Wow,this will help improve taxation, compliance,and development,in the country. But,we Nigerians,will always do otherwise.

Do you know that millions of people today,are yet to get their NIN,now this?

Well,this is a great change,and improvement,for Nigerians, because,it's will help solve some business issues,also, especially,for businesses,with, international audience,too.

But,we suggest that, Nigerians should try to comply,with this,due to the huge benefits,to you,as an individual,or citizen,of Nigeria, and other reasons,known to us.

GeneralOuki:
Imagine! You're "praying" to see the dividend of what you're paying for. You're not demanding to see the dividend rather you're praying to see it, which means you're not even sure that your Tinubu will deliver on that so you're putting it in prayers.

"I should demand" - Entitlement mentality!

"My Tinubu" - Is Tinubu mine?

Yes, whatever is good needs prayer! And whatever is off too needs prayer!

Na so Anambala people too dey pray till Obi completed his tenure with no LG elections in 7 years!

Gotocourt:
Another BVN stress era abi NIN issues. This should be done automatically using using existing TIN or BVN. This is crazy 🤷🏿

..if this thing can be done online..one register and fill the tax form online and obtain his tax ID.. it will be better it will reduce and stop the stress and long queues in tax offices

This time and age, we still do things in archaic way. Why must we visit the NRC centers to register. Why can't we do it online?

harjay1986:
They call it personal income tax how do you think they will tax informal working class people? It different from PAYEE so their own would be like once year thats the accumulation for the year ... you mentioned that what if it foreign remittance or up keep .... do you know that people work online while in Nigeria even if it a Bonus from your work place it will still be tax

And your answer to the bold was?

U1:
And your answer to the bold was?

Yes even if it foreign remittance You will pay tax on it except you allow it to come in through crypto but even as that once you convert your crypto to naira and send the money to your bank account ... you will pay personal income tax on it just that it might be once in a year .... except if what you receive is bellow taxable range like 1m within a year .... but if you receive anything like 2.5million and above in a year that money will be tax once

Lanretoye:
What some people hate to hear,the word tax gives them heartaches…the only thing the like to hear is subsidy and palliatives.
A wise person will go and register his business and obtain the TIN before time when enforcement will beginyou are a youth,paying taxes should not be your concern but the use of the revenue.how many countries still pays subsidies or don’t collect taxes in the world?.anyway there is no kid that will be happy if his father stops the stipends.
The monies they were using to pay subsidies were borrowed,stoping subsidies does not mean they will stop borrowing as some of you supposed.they can now borrow to provide infrastructures instead of doing give away in the name of subsidy.
All the 36 governors have testified to increased allocation,you should hold them responsible for not seeing corresponding increase in development.

So it’s safe to say the masses are suffering from the incompetence of the governors? So If Tinubu I’ve told us the samething during Jonathan’s we won’t be here, instead he was always on GEJ’s neck ..

harjay1986:
Yes even if it foreign remittance You will pay tax on it except you allow it to come in through crypto but even as that once you convert your crypto to naira and send the money to your bank account ... you will pay personal income tax on it just that it might be once in a year .... except if what you receive is bellow taxable range like 1m within a year .... but if you receive anything like 2.5million and above in a year that money will be tax once

Not true.

Your money will not be taxed. What will happen is that once the money hitting your acct meets a threshold, it will be flagged by your bank to the tax authority. Then you may be required to explain yourself

What you may then need to do is you perform self assessment ( e.g declare the amount that is income to you then pay tax on it, as long as it is above 800k / year for individuals)

That’s actually the point. Banks won’t just deduct tax from your money automatically, but once it hits certain thresholds, it gets flagged and you may have to account for it. This is where a lot of people get confused. For cross-border inflows though, I personally use Unigox, way cheaper and smoother than traditional rails, plus no hidden surprises.
More here: https://medium.com/@alexgrape/send-money-to-nigeria-how-to-send-fast-cheap-875c0dc3615c

Inception:
Not true.

Your money will not be taxed. What will happen is that once the money hitting your acct meets a threshold, it will be flagged by your bank to the tax authority. Then you may be required to explain yourself

What you may then need to do is you perform self assessment ( e.g declare the amount that is income to you then pay tax on it, as long as it is above 800k / year for individuals)

harjay1986:
Yes even if it foreign remittance You will pay tax on it except you allow it to come in through crypto but even as that once you convert your crypto to naira and send the money to your bank account ... you will pay personal income tax on it just that it might be once in a year .... except if what you receive is bellow taxable range like 1m within a year .... but if you receive anything like 2.5million and above in a year that money will be tax once

This is beyond madnes..

harjay1986:
They call it personal income tax how do you think they will tax informal working class people? It different from PAYEE so their own would be like once year thats the accumulation for the year ... you mentioned that what if it foreign remittance or up keep .... do you know that people work online while in Nigeria even if it a Bonus from your work place it will still be tax

This is al madness, Tinubu is just doing anyhow and this will definitely backfire. I pay PAYEE tax running into hundreds of thousands monthly, which accumulates into millions yearly, and once a year I get paid some millions as a bonus, which is not taxed, and then this useless administration will now forcefully deduct tax from my bonus, which is not supposed to be taxed. This is madness.

fxexperts:
This is beyond madnes..

This is al madness, Tinubu is just doing anyhow and this will definitely backfire. I pay PAYEE tax running into hundreds of thousands monthly, which accumulates into millions yearly, and once a year I get paid some millions as a bonus, which is not taxed, and then this useless administration will now forcefully deduct tax from my bonus, which is not supposed to be taxed. This is madness.

If you receive bonus there is a way out in which it will not be tax, your HR should know better ... I can't say such here .... I received my Bonus this year it can't be tax with the way it was paid ..... HR always know the loopholes to bypass these legally.. but as a salary earner that do remit his Payee, even if you receive foreign remittance it might be over look ... in my own taught ooh

Because to me it more like you have your normal 8-5 job but you still engage in forex trading or anything that fetch you more money and the money do come into your salary account... the first thing they will check is if you pay tax and once that's check your PAYEE remittance will pop up

nlfpmod:
Source:
THE NATION’S EYES NEWSPAPER

BY NOEL CHIAGOROM

I can bet you that they will rush and start this, even block some accounts,, only for us to realize (after one year or so) that some biigg big accounts still operate without the Tax-ID.