₦airaland Forum

TemporaryHansel:
Shameful.

GloriousGbola:
You think all Canadians are happy with foreigners from shithole countries mooching off their tax dollars?

GloriousGbola:
Maybe you can start by staring what CCB means

OasisX:


New Tax Reform

If you earn personal income below N800,000, you pay zero income tax

Your company has a turnover below N50m, and you pay zero corporate income tax

The significant change under this tax law is that you have to invest or make certain purchases to avoid taxes legally

Tax avoidance is legal, tax evasion is illegal

Under current law (until December 31st 2025), you get 20% of gross income plus a N200k or 1% of gross, whichever is higher, as tax relief automatically; the new law does not make this automatic, you have to invest to claim a deduction

Invest in what?

1. Open and contribute to a Retirement Savings Account
2. ⁠Buy life insurance for you and your spouse
3. ⁠Open and contribute to the National Health Insurance Scheme
4. ⁠Open and contribute to the national housing fund
5. ⁠If you pay rent, you get 20% relief on rent paid, subject to a cap of N500,000

Scenario

So I am unemployed, my uncle in the US sends me $100 paid to my Nigerian bank current account

1. Do I pay income tax? On N100,000 paid into my account? No, below N800,000, but I pay other taxes like VAT, electronic transfer

2. I buy BTC with my N100,000, sell for N200,000, make N100,000 profit, do I pay income tax on N100,000? No, below N800,000, but I pay other taxes like VAT, electronic transfer

3. I buy BTC with my N100,000, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? Yes, income above N800,000, plus I pay other taxes like VAT, and electronic transfer

4. ⁠I buy BTC with my N100,000, but under my company name, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? No, profit made under the company name, but I pay other taxes like VAT, and electronic transfer

5. ⁠Does my business pay tax on N1,900,000 profit? No, turnover less than N50m, but the company pays other taxes like VAT, electronic transfer

Do you have a registered company?

What should you do next? Get tax advice.

6. Gather your friends, contribute money, and hire a tax professional to speak to your “club” and pay the fees.

7. Hire an accountant

Kalu Aja

Spy360:
No they are not. That is why they have to stop supporting Hamas, and refuse being used as human shields

TrebleChamp:
How are they supporting Hamas and how should try refuse to be used as human shield?

Ibime:
Can you check who won the last elections held in Gaza before commenting out of ignorance?

Would never forget how hundreds of thousands of Gazans spilled onto the street to jubilate on October 7th

TrebleChamp:
Every world leaders and people who have sense condemning the killing of innocent women and children in Gaza are also ignorant? No matter how you guys try to spin it, Izrel is committing genocide and ethnic cleansing in Gaza, you are not more informed on the matter than the United Nation...

Ibeme:
Can you confirm who won the last elections in Gaza?

You should know that 20% of Israeli citizens are Arabs (Palestinians) whose grandfathers did not flee or try to wipe out the Israelis in 1948 like the Gazans, and they are enjoying life as Israelis

Those who always choose violence suffer the consequences

BlueRayDick:
The bold was why I was just laughing at our resident self processed Russian-cum-Palestinian advocate when he was talking about October 7 not being the start of the whole crisis but 56 years ago.

He deliberately chose 56 years ago that was convinient for him but forgot the Palestinians and their Arab brothers plotted together to filwipe off the Jews as far back as 1948 in opposition to the state of Israel and state of Palestine existing side by side as separate individual nations.

They chose war and lost woefully against Israel along with their other Arab brothers. The two state solution they now crave for was offered to them on a platter by the UN and the majority rest of the world but they chose to fight a war that didn't end well for them but somehow they expect the Victor in the war to loose guard for them.

No be juju be that?

Ibime:
Todays waka. 45 mins walk and 2 hours badminton

izzou:
https://www.nairaland.com/8522926/man-reportedly-beaten-death-three

[color=royalblue]Man beaten to death by his 3 wives.

It doesn't get better. It happened in Otuocha

Raumdeuter, come and remind us of the benefits of polygamy, in 20 words.[/color]

kodded:
So that means if I'm celebrating my birthday and someone TF me 1million naira as birthday gift, that means I must pay tax from my birthday gift too?

raumdeuter:
Got off early and was able to get 3miles in about 60mins

izzou:
https://www.nairaland.com/8522926/man-reportedly-beaten-death-three

[color=royalblue]Man beaten to death by his 3 wives.

It doesn't get better. It happened in Otuocha

Raumdeuter, come and remind us of the benefits of polygamy, in 20 words.[/color]

GloriousGbola:
the orgy he got vs the orgy he was told he would get

Segedinho:
@ TemporaryHansel


I say make i update u

GloriousGbola:

Nigerian girl breaks down in tears after her UK student visa was terminåted for exceeding the 20-hour work limit. She has now been ordered to leave the country immediately. According to reports, she took up extra work after losing her father in 2023, who had been her main… pic.twitter.com/a9ijkFkRvj

— CHUKS 🍥 (@ChuksEricE) September 20, 2025

iamoyindamola:
Let's all stay in Nigeria and do things the right way