₦airaland Forum

Streetinvestor2:
.
Unless God is wicked to allow them beyond 2027.

If they continue beyond 2027, it wouldn't mean God is wicked, it would simply either mean that Nigerians voted for them or they rigged their way in.

We shouldn't blame God for everything.

Even when His own people said the judges He chose to rule them were boring, He didn't object, He allowed them get a king.

GeneralDae:
“There is an exemption threshold raised: for sale of shares in Nigerian companies, the gross proceeds threshold is now ₦150 million in any 12 consecutive months. 
Also, gains do not exceed ₦10 million in that period may qualify under the exemption”.
“For individuals, CGT continues but will be taxed at the individual’s applicable income tax rate (“progressive tax band”) rather than a flat 10%”.

Both of these are true.


The problem with it is that most people here are far above that threshold.

For volume for instance, I am like 30 times above it.

And for profits, some people here are probably 10 - 100 times above it.


If you noticed, even though the tax ladder starts at 15%, nobody here has mentioned 15%


Cos people's annual profits are way above N25m

GeneralDae:
I would dig further but I think I have heard Taiwo Oyedele say there are exemptions. The problem with information on this new tax laws generally is that people prefer to listen to influencers and non tax experts and then ignore Taiwo and the FIRS guys who are all over the place answering questions and explaining.

“There is an exemption threshold raised: for sale of shares in Nigerian companies, the gross proceeds threshold is now ₦150 million in any 12 consecutive months. 
Also, gains do not exceed ₦10 million in that period may qualify under the exemption”.
“For individuals, CGT continues but will be taxed at the individual’s applicable income tax rate (“progressive tax band”) rather than a flat 10%”[b][/b].

That even does not make sense!
Why must an individual (with higher risk burden) pay a higher rate in CGT than a company?

i don sleep on dis cgt matter kai dis is serious
so fg wan chop 25% of my profit on top all the fees i don pay
is there no way out of dis lamba?
25%
omo

sboga:
i don sleep on dis cgt matter kai dis is serious
so fg wan chop 25% of my profit on top all the fees i don pay
is there no way out of dis lamba?
25%
omo

Let’s all just wait and follow the Taiwo Oyedele meeting. We would summarize the nuances after that.

I entered a twitter space two days ago where tax (as related to the stock market and fixed income market) was being discussed, they invited a tax expert but I entered late and they were almost done. But it seemed the tax guy (guest speaker) did a good job answering most of the questions.

So I believe there would be clarity when more of these guys come out to explain the nuances involved.

I strongly believe they have modelled their system based on the European model but in a little bit more progressive way.

GeneralDae:
Let’s all just wait and follow the Taiwo Oyedele meeting. We would summarize the nuances after that.

I entered a twitter space two days ago where tax (as related to the stock market and fixed income market) was being discussed, they invited a tax expert but I entered late and they were almost rounding off. But the mood there looked like the tax guy (guest speaker) did a good job answering most of the questions.

So I believe there would be clarity when more of these guys come out to explain the nuances involved.

I strongly believe they have modelled their system based on the European model but in a little bit more progressive way.

What is progressive in asking individuals to pay almost 25 percent CGT but companies would pay 10 percent?
Who carries higher relative risk burden in the capital market between a company and an individual and who should be rewarded or incentivized more?

mikeapollo:
What is progressive in asking individuals to pay almost 25 percent CGT but companies would pay 10 percent?
Who carries higher relative risk burden in the capital market between a company and an individual and who should be rewarded or incentivized more?

CGT rate for companies was raised from 10% to 30% the last I checked while for individuals it’s progressive and ranges from 7% to 25%.

GeneralDae:
CGT rate for companies was raised from 10% to 30% the last I checked while for individuals it’s progressive and ranges from 7% to 25%.

So why must an individual pay potentially up to 25% CGT on gains in NGX?
And they were telling lies that the new tax law is more beneficial to people?

Thank you for mentioning Taiwo. i will try to listen and read more of his discussion on the subject matter.

GeneralDae:
I would dig further but I think I have heard Taiwo Oyedele say there are exemptions. The problem with information on this new tax laws generally is that people prefer to listen to influencers and non tax experts and then ignore Taiwo and the FIRS guys who are all over the place answering questions and explaining.

“There is an exemption threshold raised: for sale of shares in Nigerian companies, the gross proceeds threshold is now ₦150 million in any 12 consecutive months. 
Also, gains do not exceed ₦10 million in that period may qualify under the exemption”.
“For individuals, CGT continues but will be taxed at the individual’s applicable income tax rate (“progressive tax band”) rather than a flat 10%”.

Someone tried sharing the link to the webinar....not sure we got it.

please do you have the link?

awesomeJ:
There's a session at the NGX in 46+ hours.

Mr Taiwo himself is coming to clarify things.

My own is sha for him to confirm that reinvestment clause.

With that, I won't have any business at all with CGT.

GeneralDae:
CGT rate for companies was raised from 10% to 30% the last I checked while for individuals it’s progressive and ranges from 7% to 25%.

Whr did u see the 7% progressive thin u are talking. It started from the minimum percentage of PIT

GeneralDae:
Let’s all just wait and follow the Taiwo Oyedele meeting. We would summarize the nuances after that.

I entered a twitter space two days ago where tax (as related to the stock market and fixed income market) was being discussed, they invited a tax expert but I entered late and they were almost done. But it seemed the tax guy (guest speaker) did a good job answering most of the questions.

So I believe there would be clarity when more of these guys come out to explain the nuances involved.

I strongly believe they have modelled their system based on the European model but in a little bit more progressive way.

That Taiwo has nothing new or different or useful to say. I have heard him speak on Channels. Even if there are other ways to avoid the tax, he would not say it. You may have to other tax consultants or advisers.
They just deceived Nigerians and the useless National Assembly allowed them by passing the law.

GeneralDae:
I would dig further but I think I have heard Taiwo Oyedele say there are exemptions. The problem with information on this new tax laws generally is that people prefer to listen to influencers and non tax experts and then ignore Taiwo and the FIRS guys who are all over the place answering questions and explaining.

“There is an exemption threshold raised: for sale of shares in Nigerian companies, the gross proceeds threshold is now ₦150 million in any 12 consecutive months. 
Also, gains do not exceed ₦10 million in that period may qualify under the exemption”.
“For individuals, CGT continues but will be taxed at the individual’s applicable income tax rate (“progressive tax band”) rather than a flat 10%”.

Taxing large traders' stock profits at 25% risks making the market unattractive to them. Their departure would remove the liquidity and activity that smaller traders rely on, ultimately causing the entire market to tank.

It gets more annoying knowing the money I invest is what's left after the government has already taken taxes from my salary and added VAT to my purchases.

kintus:
Someone tried sharing the link to the webinar....not sure we got it.

please do you have the link?

It's strictly by invitation.

But they'll stream live on YouTube.

So just subscribed to the NGX channel on YouTube and turn on notifications maybe.

"https://youtube.com/@ngxgroup?si=YPUH0RR8_LGORU4p"

The URL isn't quite rendering to be clickable.

Maybe you should just search the channel directly on YouTube

Thank you Master.

awesomeJ:
It's strictly by invitation.

But they'll stream live on YouTube.

So just subscribed to the NGX channel on YouTube and turn on notifications maybe.

"https://youtube.com/@ngxgroup?si=YPUH0RR8_LGORU4p"

The URL isn't quite rendering to be clickable.

Maybe you should just search the channel directly on YouTube

brotherly:
Taxing large traders' stock profits at 25% risks making the market unattractive to them. Their departure would remove the liquidity and activity that smaller traders rely on, ultimately causing the entire market to tank.

It gets more annoying knowing the money I invest is what's left after the government has already taken taxes from my salary and added VAT to my purchases.

A govt that has quadrupled its revenue but has nothing to show for it. The same govt wants to collect the gains from my hustling in NGX and squander it, use it to refurbish president's residence, buy private jets and increase allowances to senators etc

megawealth01:

I no be farmer

awesomeJ:
That company is funny joor.

You make N2.5trn in revenue, but only manage to keep N140bn as earnings, na so diesel cost

The employees are the actual ones enjoying more than the retail share holders.


Company that makes N100bn in revenue weekly, you still see them floating CPs of N100bn?

Like what's happening? For a company whose business is mostly prepaid??

They shouldn't be having any reasons for not halving their current finance cost.


I think DANGCEM is more likely to be Upgraded.

The industry is regulated, they can't adjust their rates based on inflation or cost of living.
It is also a capital intensive business that involves upgrade of their equipments on a regular basis


I think their shareholders fund is too meagre for the size of business they operate, it is as if they are working for the banks

emmanuelewumi:
The industry is regulated, they can't adjust their rates based on inflation or cost of living.
It is also a capital intensive business that involves upgrade of their equipments on a regular basis


I think their shareholders fund is too meagre for the size of business they operate, it is as if they are working for the banks

I understand, it's just somehow to be seeing 140bn earnings from 2.5trn revenue. That's 5.6%

Those of us who make 1-2% margins aren't doing badly in comparison be that.

emmanuelewumi:
The industry is regulated, they can't adjust their rates based on inflation or cost of living.
It is also a capital intensive business that involves upgrade of their equipments on a regular basis


I think their shareholders fund is too meagre for the size of business they operate, it is as if they are working for the banks

Why was it not like that when it was not listed. They whr making big profits and sending to SA.
It became listed on ngx and the result changed

Streetinvestor2:
Why was it like that when it was not listed. They whr making big profits and sending to SA.
It became listed on ngx and the result changed

Sometimes I feel like they try to reclaim that hefty $5bn fine.

They seem to make their PBT intentionally low so that while DANGOTE is paying hundreds of billions as taxes on similar revenue size, they can just pay a tiny fraction cos they see that fine as FG don already collect what's due them.

I may be wrong though.

But for running costs, no be only diesel??

Doesn't ZENITHBANK burn the same diesel to power all those ACs in hundreds of branches.

Yet they made hundreds of billions even after doing a hefty loan write off.


This MTN matter doesn't look like clear eye to me.
Being on their payroll seems way more lucrative than being on their shareholders register.

May we not be deaf to hear, and weak to act:
---------------------------------------------------------------
I foresee the Nigerian stock market, after enduring storms of inflation, FX volatility, and regulatory unpredictability, rising like the phoenix. Dangote Cement will be recognized by discerning investors as underpriced as its margins and growth will pull its valuation upward. MTN Nigeria will regain its footing, its losses from currency shifts will be tempered, and its revenue streams in data and services will shine, making the stock sought-after. Oando ... the jewel of our time, having shown what it can do in upstream growth and profit recovery, will break through investor skepticism, and its current price will be seen as a bargain for those patient and bold enough to hold on!

awesomeJ:
Sometimes I feel like they try to reclaim that hefty $5bn fine.

They seem to make their PBT intentionally low so that while DANGOTE is paying hundreds of billions as taxes on similar revenue size, they can just pay a tiny fraction cos they see that fine as FG don already collect what's due them.

I may be wrong though.

But for running costs, no be only diesel??

Doesn't ZENITHBANK burn the same diesel to power all those ACs in hundreds of branches.

Yet they made hundreds of billions even after doing a hefty loan write off.


This MTN matter doesn't look like clear eye to me.
Being on their payroll seems way more lucrative than being on their shareholders register.

You keep going on with this fuel talk, which is actually dumb. Why don’t you look at their latest financials and do some proper research? Did you see the ₦2 trillion in borrowing? How much do you think they’re paying in interest? What about the high-tech equipment that needs replacement? Do you really think a Zenith Bank manager earns anywhere near a certified specialist engineer? You think MTNN is the main source of communication? Don’t you know they pay service providers as roaming costs, plus all the licenses they have to offset, etc.? Even before the forex wahala, MTNN’s equity in the business was about ₦300 billion — most of what you see is debt-driven.

Your case is different. The 2% monthly margin you claim to make comes with high risk. Please, since you’re hyping your gains, also let us know when you eventually hit huge losses that will force you into becoming a long-term investor.

ositadima1:
You keep going on with this fuel talk, which is actually dumb. Why don’t you look at their latest financials and do some proper research? Did you see the ₦2 trillion in borrowing? How much do you think they’re paying in interest? What about the high-tech equipment that needs replacement? Do you really think a Zenith Bank manager earns anywhere near a certified specialist engineer? You think MTNN is the main source of communication? Don’t you know they pay service providers as roaming costs, plus all the licenses they have to offset, etc.? Even before the forex wahala, MTNN’s equity in the business was about ₦300 billion — most of what you see is debt-driven.

Your case is different. The 2% monthly margin you claim to make comes with high risk. Please, since you’re hyping your gains, also let us know when you eventually hit huge losses that will force you into becoming a long-term investor.

When you don't know to ignore posts that aren't directed at you, that's the real dumbness.

awesomeJ:
When you don't know to ignore posts that aren't directed at you, that's the real dumbness.

It’s painful to read, over and over again. It just dumbs me down.

https://www.youtube.com/watch?v=OCG5tImR4kA

A summary of today's trading session on the NGX.

Thanks. Hopefully Morgan will respond someday.

jckgroup1:
Not true.

I had challenge when it didn't reflect on my CSCS account and got that resolved through First Registrars.

While on my CSCS account but wasn't reflecting on my portfolio, I sent Atlass CSCS proof and got it reflecting on my portfolio currently.