₦airaland Forum

doctore212:
Please how will the new tax law affect olosho.

E.g if I carry two big olosho fir TDB for 2k . What am I paying to the government

it depends if you are doing transfer or cash 🤣😂 if you do transfer, they will deduct from two of you.

There going to be protests just mark this post. Most Nigerians are not bothered until it implemention.

If you go to market most markets people and people on the street are not even aware of it. Some that hear it don't even understand it.

Just like goodluck remove subsidy and it saw protest. Nigerians are already paying income tax. You ludge in hotel they collect tax. You buy or send money they collect tax. You received money they callect vat.

1million is a very small money that can sustain a single person in a year. Anyone living below 300k in a month will tell you they are struggling to survive not to talk of 800k a year which is berely 500$.

This government is a thief. Looking to steal from where they didn't sow. What happened in Nepal will be child plan when they starts collecting money from people account.

doctore212:
Please how will the new tax law affect olosho.

E.g if I carry two big olosho fir TDB for 2k . What am I paying to the government

You will pay VAT
PIT

Day169:
Well said, bro but I think Nigerians, being who we are, will become more cunning in their ways in an attempt to evade tax.
While the struggling masses may enjoy some form of tax relief, the thought of high earners parting ways with a significant portion of their earnings will push them to device ways to evade the payments.
Moreso with a largely corrupt civil service, the tax officers will become kings seeking ways to aid and manipulate payments for kick backs.
.. anyway we shall see as 2026 is around the corner.

if you say the civil service is largely corrupt, how come tinubu is not bothered about fixing the corruption but more concerned about collecting tax that as you say will lead to more corruption?

Dalohad:
Simple, to avoid Tinubu dipping his greedy hands into our pockets we have to improvise..

Cash, crypto and other means of payment will take priority.

I will never slave for Tinubu to come and take 25% of my wealth, after providing my own water, shelter, power and other essentials without one kobo of government support.

Tinubu is the Oil minister, he has monopolized Oil wealth for himself, politicians and corrupt Supreme court judges.

Yet they still want to keep pushing their luck too far by dipping their hands into our pockets like Agberoes working for MC Oluomo under Oshodi bridge.

They are emboldened everyday because Nigerians have become docile and sedentary. Like thieves and rogues, their appetite for free money extorted from Nigerians keep growing because Nigerians have refused to push back. Now they ask for your blood.

Libya as an oil country under Ghadaffi was giving 100% free education, buying houses for citizens, free water pumped by government, free power. Almost 0% taxes. Same with many other Arab countries..

Why must Nigeria's own be different? You take the oil money, provide nothing for generality of the people, yet you ask for their blood in taxes? Wetin dey give Tinubu mind sef? IMF? World Bank? France?

By next year, if Nigerians look for 1 kobo of the money in their accounts, the only choice is will be to go the NEPAL way.

They know they will always get away with whatever they do, Nigerians will never blink an eye

As a tax guru,I can confidently say Nigerians are in hot soup especially fraudsters and money launderers.

vanbonattel:
Cash will become king, if you don't pay me cash for your services, you pay me double so I can get extra to give the thieves.

There is a limit already to the cash transaction that you can do. Sorry buddy, the era of getting away with money laundering and illicit funds are gone.

PissInside:
As a tax guru,I can confidently say Nigerians are in hot soup especially fraudsters and money launderers.

Nigerians are not in any hot soup. Hardworking Nigerians will even pay less taxes. Those in hot soup are criminals who can’t explain the sources of their income.

Dalohad:
Simple, to avoid Tinubu dipping his greedy hands into our pockets we have to improvise..

Cash, crypto and other means of payment will take priority.

I will never slave for Tinubu to come and take 25% of my wealth, after providing my own water, shelter, power and other essentials without one kobo of government support.

Tinubu is the Oil minister, he has monopolized Oil wealth for himself, politicians and corrupt Supreme court judges.

Yet they still want to keep pushing their luck too far by dipping their hands into our pockets like Agberoes working for MC Oluomo under Oshodi bridge.

They are emboldened everyday because Nigerians have become docile and sedentary. Like thieves and rogues, their appetite for free money extorted from Nigerians keep growing because Nigerians have refused to push back. Now they ask for your blood.

Libya as an oil country under Ghadaffi was giving 100% free education, buying houses for citizens, free water pumped by government, free power. Almost 0% taxes. Same with many other Arab countries..

Why must Nigeria's own be different? You take the oil money, provide nothing for generality of the people, yet you ask for their blood in taxes? Wetin dey give Tinubu mind sef? IMF? World Bank? France?

By next year, if Nigerians look for 1 kobo of the money in their accounts, the only choice is will be to go the NEPAL way.

This new tinibu's tax law might just end up being what will finally break the camel's back and cause the much overdue revolution in nigeria. Imagine paying taxes for money you received into your account without any questions of what the money is really meant for, wether it's for mobilisation for a project you got, business transactions or for rents you received from ur tenants tinibu don't care.

We cant wait vote Tunibu out Gods willing. The people are yet to recover from the effect of subsidy removal and are now have to contend will string of taxes.

kunle4toyeyaho:
on the contrary,the new tax law is a sigh of relief. Unless you are a high income earner,your tax will definitely reduce. Pick a copy of the tax law and read up

I don't know what you mean by high.
Annual minimum wage is 840k.

The criminal tax law says once you earn more than 800k annually you pay 15%.
In real sense nobody is escaping anything.
Go to Kenya and check there's... It's almost 2,880,00 annually in naira are exempted from tax.

The problem with most us Nigerians is that we don't get all our facts right before we conclude and start commenting on any issue.

Anyone who is truly want to get the fact about this new tax regime should watch this video.

https://www.facebook.com/otokinie/videos/1757617328450455/?mibextid=rS40aB7S9Ucbxw6v

Mrexcell:
This new tinibu's tax law might just end up being what will finally break the camel's back and cause the much overdue revolution in nigeria. Imagine paying taxes for money you received into your account without any questions of what the money is really meant for, wether it's for mobilisation for a project you got, business transactions or for rents you received from ur tenants tinibu don't care.

Lol. Bro, it's well.

The new tax law will not authorize any bank to deduct 20% or any percentage from monies tranferred to an account.

However, people with incomes of N5m and above in a month will be flagged to tax authorities for compliance check. Same applies with corporates with N100m and above within a month.

That is why Tinubu emphasized on tax IDs for collective tracking. It is well.

Govt need to be more concerned about the welfare and standard of living of it's people by being very accountable. People are already suffering extremely.

vanbonattel:
Cash will become king, if you don't pay me cash for your services, you pay me double so I can get extra to give the thieves.

Exactly

Tinubulation

Nothing new about a drug lord and a greed

Lemme hear word

motymop:
i dont think so..the cash will still have to come from an account that mean you will still be tracked.

I trust Nigerians, people will simply stop depositing money into bank accounts.

Guestmale:
The problem with most us Nigerians is that we don't get all our facts right before we conclude and start commenting on any issue.

Anyone who is truly want to get the fact about this new tax regime should watch this video.

https://www.facebook.com/otokinie/videos/1757617328450455/?mibextid=rS40aB7S9Ucbxw6v

From the video, the man talked about the fuel surcharged that it will be use for transport this & that, tell me how the CNG buses distributed to states has reduced transport fare. FG removed fuel subsidy n claimed to have given free kits to commercial buses but how many commercial buses have you seen on the road running on CNG? How many country's pays stamp duty on every deposit? The man never addressed taxing someone earning 801k per annum or someone earning 801k per annum is a high income earner?

Maybe you explain to better

And some people said instead of a Northerner to take over power Tinubu should continue. I wonder the kind of sense people truly have.

You lack words to describe the ongoing scorched earth TINUBULATION.

Please explain how Jonathan was careless and reckless .

Seems you are still feeding on the cocktail of lies APC fed you guys to grab power by all means in 2015. I thought by now everybody's eyes should have been opened to thier lies.

MrIcredible:
Everything about Tilunbu is
TAX
TAX
TAX

WHAT AN UNFORTUNATE MAN!

Just in 2-3 years, inflation has risen by nothing less than 300% on every commodity.

-No meaningful progress or development
-Insecurity is the order of the day
-Minimum wage is just 70k and some governors are still owing till date.

JONATHAN WAS RECKLESS ARE CARELESS
BUHARI WAS CARELESS AND USELESS

NOW TINUBU!

Basicend:
Lol. Bro, it's well.

The new tax law will not authorize any bank to deduct 20% or any percentage from monies tranferred to an account.

However, people with incomes of N5m and above in a month will be flagged to tax authorities for compliance check. Same applies with corporates with N100m and above within a month.

That is why Tinubu emphasized on tax IDs for collective tracking. It is well.

Govt need to be more concerned about the welfare and standard of living of it's people by being very accountable with these things.

So if I received #5m within a month for a contract job I will execute my bank will then report my account to the tax authorities without caring to know what's going to be my profit from the #5m contract job?

kunle4toyeyaho:
on the contrary,the new tax law is a sigh of relief. Unless you are a high income earner,your tax will definitely reduce. Pick a copy of the tax law and read up

Gibberish.

Dalohad:
Simple, to avoid Tinubu dipping his greedy hands into our pockets we have to improvise..

Cash, crypto and other means of payment will take priority.

I will never slave for Tinubu to come and take 25% of my wealth, after providing my own water, shelter, power and other essentials without one kobo of government support.

Tinubu is the Oil minister, he has monopolized Oil wealth for himself, politicians and corrupt Supreme court judges.

Yet they still want to keep pushing their luck too far by dipping their hands into our pockets like Agberoes working for MC Oluomo under Oshodi bridge.

They are emboldened everyday because Nigerians have become docile and sedentary. Like thieves and rogues, their appetite for free money extorted from Nigerians keep growing because Nigerians have refused to push back. Now they ask for your blood.

Libya as an oil country under Ghadaffi was giving 100% free education, buying houses for citizens, free water pumped by government, free power. Almost 0% taxes. Same with many other Arab countries..

Why must Nigeria's own be different? You take the oil money, provide nothing for generality of the people, yet you ask for their blood in taxes? Wetin dey give Tinubu mind sef? IMF? World Bank? France?

By next year, if Nigerians look for 1 kobo of the money in their accounts, the only choice is will be to go the NEPAL way.

Ignorance is always loud.

Day169:
Well said, bro but I think Nigerians, being who we are, will become more cunning in their ways in an attempt to evade tax.
While the struggling masses may enjoy some form of tax relief, the thought of high earners parting ways with a significant portion of their earnings will push them to device ways to evade the payments.
Moreso with a largely corrupt civil service, the tax officers will become kings seeking ways to aid and manipulate payments for kick backs.
.. anyway we shall see as 2026 is around the corner.

Gibberish

Day169:
Well said, bro but I think Nigerians, being who we are, will become more cunning in their ways in an attempt to evade tax.
While the struggling masses may enjoy some form of tax relief, the thought of high earners parting ways with a significant portion of their earnings will push them to device ways to evade the payments.
Moreso with a largely corrupt civil service, the tax officers will become kings seeking ways to aid and manipulate payments for kick backs.
.. anyway we shall see as 2026 is around the corner.

What do you mean by high earners? Minimum wage is 70k per month. The tax law affects anyone who earns 800k and above a year. That is about 66k per month. The way you guys support your enemies is mind boggling.

lexy2014:
if you say the civil service is largely corrupt, how come tinubu is not bothered about fixing the corruption but more concerned about collecting tax that as you say will lead to more corruption?

Is Tinubu himself not corrupt?

ajalawole:
We no go die.... If we can survive buhari regime for 8yrs who is babablue.

Someone worse.

Let this warm you up for 2027

apc must go

tinubu must go

.....

Dalohad:
Simple, to avoid Tinubu dipping his greedy hands into our pockets we have to improvise..

Cash, crypto and other means of payment will take priority.

I will never slave for Tinubu to come and take 25% of my wealth, after providing my own water, shelter, power and other essentials without one kobo of government support.

Tinubu is the Oil minister, he has monopolized Oil wealth for himself, politicians and corrupt Supreme court judges.

Yet they still want to keep pushing their luck too far by dipping their hands into our pockets like Agberoes working for MC Oluomo under Oshodi bridge.

They are emboldened everyday because Nigerians have become docile and sedentary. Like thieves and rogues, their appetite for free money extorted from Nigerians keep growing because Nigerians have refused to push back. Now they ask for your blood.

Libya as an oil country under Ghadaffi was giving 100% free education, buying houses for citizens, free water pumped by government, free power. Almost 0% taxes. Same with many other Arab countries..

Why must Nigeria's own be different? You take the oil money, provide nothing for generality of the people, yet you ask for their blood in taxes? Wetin dey give Tinubu mind sef? IMF? World Bank? France?

By next year, if Nigerians look for 1 kobo of the money in their accounts, the only choice is will be to go the NEPAL way.

For one thing I think this tax reform is going to spark something inside Nigerians. The reason why we're docile and support Evil politicians is because somehow a lot of us are not directly effected by the policies of the governments, even when we're effected we fail to understand how those policies are the reason for why we're in that predicament. Hitting our monies directly in form of tax without any tangible improvement in the lives of the people is going to awaken us more than ever before in such a way that tribes, religion or political leaning is going to take a huge back seat and for the first time we might actually collective begin to hold government accountable. And if the government decides to show their usual hand of suppression then there's going to be an uprising because Nigerians are really suffering and struggling to make ends meet.

Just from one hardship to another

Vote out tinubu, it's your patriotic duty