₦airaland Forum

Basic123:
In the next 10yrs we will move totally from dependence on crude oil sales and price for our budgets

Story!

You people said the same about subsidy removal, up till now we are still borrowing. Infact, our borrowing gear is now in 6....very fast heading to our doom.

God save Nigeria from the hands of one man so obsessed to be president without knowing how to engineer the country to greatness.

Starhearts:
Is easy to criticise...
But providing better solution is huge problem

U just wake up start to start glibeerism....

Go bd look 4 beta daily bread 🍞

Is this administration providing better solution(s) to the problems it's causing every day.....!!!


This same administration that removed PGEJ administration is the one telling Nigerians to brace up ......their issues is even worse than that of PGEJ for their are self inflicted and more.


Even Nicodemus sought repentance buy this one is feigning ignorance and blaming Nigerians....!!!!

OneCandleAway:
Does anyone hiring a prostitute send money with narration income from prostitution?

What the govt is saying is once over 800k a year passed through the account then they'll tax

And I say it's absolute nonsense. How can you tax a cashflow you have no idea of it's origin and purpose. Other people dey tax really income from services rendered or products sold. Una own na to blindly tax any inflow into people's bank account. Tomorrow if people revolts at una thoughtless policies they will be tagged unpatriotic.

pdppower:
Whether it is legitimate or not, abi. So armed robbers who steal up to a million will also pay tax from it

Nigerians, we can be funny at times, we are very good at misinterpreting statements or comments. Prostitution is not a crime in Nigeria, but a social vice, but is also a source of income for those engaged in it. Armed robbery is a crime and a capital offence which attracts capital punishment, you cant even call it a source of income talkless of taxing it. It is not recognised as a source of income either legitimate or illegitimate in the eyes of the law.

smh!

Omihanifa:
https://gazettengr.com/nigerians-into-sex-work-runs-to-pay-tax-going-forward-oyedele/

Yes, only farmers shouldn't be taxed.

ambale:
A tax law that doesn't ask whether your trade or service is legitimate or not

Well done the tax master, we must meet our revenue target for next year by March

Yes o.
The tax master who built Lagos without water supply must have money to steal to buy votes with stomach infrastructure palliatives.

Who will save us from ourselves, for allowing this APC extreme poverty shege to happen in 2015?



https://www.youtube.com/watch?v=g5v-F81hNTs

NaijaRoyalty:
…Says Buhari doesn’t have my kind of money

Eniola Akinkuotu, Abuja

All Progressives Congress chieftain, Bola Tinubu, has again stated that he is richer than Osun State and that he indeed said he was richer than Osun State during the run-up to the Osun State governorship election last year.

This comes months after Tinubu’s media team had claimed the APC chieftain was quoted out of context.
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However, Buhari doesn’t have the kind of money I can steal neither does he have the money I can collect. He doesn’t even have the money for Lagos votes. So, whatever I promise, it’s for real and is coming from my pocket. It’s not until I go to Alausa before I get money to give you.”

Addressing APC supporters on the need to deliver votes, Tinubu said handsome cash rewards await those who can deliver votes for the party.

He said he would not make mistakes of the past where people would collect money in advance and not deliver on election day.

Tinubu added, “Those of you that say you come to Bourdillon for mobilisation, it is mobilisation that we are doing here or don’t you understand? Definitely, if you know people in your neighbourhood, our members, how we used to do.

https://www.google.com/amp/s/punchng.com/i-said-i-was-richer-than-osun-state-tinubu-admits/%3famp

Lalasticlala

Honestly it baffles me the way the system has gone so petty pls let's pray for Nigeria cos the citizens are not safe in the hands of todays present administration it's getting worse day by day

yemmit90:
Someone should check if this Oyedele is normal or just trying to be funny.

Baggiojephlini:
My wife and her friends dey do monthly contribution of 10k/ person every month. Them de about 30 person. So every month three person go collect 100k each. Na so them de run am from January to October. Na my wife account them de send the money when month end. From there she go send the 100k give each of the three person wey go collect that month.
As I see this tax law I don tell am make e stop. Because once total money wey enter your account pass 800k in a single year govt go collect their tax.

Lol, you are just worrying yourself for nothing. The new tax laws do not state that bank inflows will be taxed. Only inflows that are income to your wife will come under risk of tax.

So let your wife do her collections in peace

Iluvmycontr3:
Yes, only farmers shouldn't be taxed.

Farmers like Baba Iyabo of Obasanjo Farms Nigeria (OFN) in Otta? Or big farmers like him who have more than 800k in their bank account will pay 15% tax?

BTW, do you think that Atiku’s business acumen was responsible for the deregulation and privatisation prosperity of PDP’s economy for 16 years since Obasanjo was only focused on peasant farming and government ownership of companies as military dictator in the seventies

anonimi:
‘How Atiku saved Obasanjo from near bankruptcy before he emerged president’‘

A new book has revealed how former Vice-President, Atiku Abubakar, saved ex-President Olusegun Obasanjo from near bankruptcy before he emerged president in 1999.

According to the new book, entitled ‘’Too Good to Die: Third Term and the Myth of the Indispensable Man in Africa,’ Atiku made all his resources available for Obasanjo’s presidential campaign.

The book, written by former chairman of National Human Rights Commission, NHRC, Chidi Odinkalu, and Ayisha Osori, author of ‘’Love Does Not Win Elections,” also revealed how Obasanjo beat late Alex Ekwueme to the presidential ticket of Peoples Democratic Party, PDP, in the 1999 election.

Quoting an account from Atiku, the authors said the trio of Ibrahim Babangida, Theophilus Danjuma and Abdulsalami Abubakar wanted PDP to adopt Obasanjo as their presidential candidate “because they considered him the best person for the job.”

“Implicit in their position was their belief that they knew how to manipulate Obasanjo and the fact that Obasanjo did their bidding in 1979. They felt secure that he could be managed again,” the authors wrote.

Atiku was reportedly asked to join a team to Ogun to inform Obasanjo that he was going to run for the highest office in the land.

“When Atiku and Obasanjo discussed the call to serve as president, Obasanjo said he could not be president because he was a nearly bankrupt ex-convict. Atiku, through General (Aliyu) Gusau, paid money into Obasanjo’s account to begin his financial rehabilitation.

“Head of State Abdulsalami Abubakar helped out by granting him an unconditional pardon. Atiku put everything he had at his disposal to support Obasanjo’s emergence as the PDP presidential candidate and, when he joined the ticket as the vice-presidential nominee, continued to make his assets available to Obasanjo and the campaign.

https://www.vanguardngr.com/2018/09/how-atiku-saved-obasanjo-from-near-bankruptcy-before-he-emerged-president/

How Indorama sustains manufacturers, boosts Nigeria’s FX earnings

Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.

The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.

Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.

The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.

The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.

https://businessday.ng/real-sector/article/how-indorama-sustains-manufacturers-boosts-nigerias-fx-earnings/

Arostar2023:
And I say it's absolute nonsense. How can you tax a cashflow you have no idea of it's origin and purpose. Other people dey tax really income from services rendered or products sold. Una own na to blindly tax any inflow into people's bank account. Tomorrow if people revolts at una thoughtless policies they will be tagged unpatriotic.

People are not even reading the tax laws. No where in there does it impose tax on cashflows or bank accounts.

If you have inflows that are not income such as borrowings, refunds, passthroughs etc, they are not taxable. Don't understand why peeps are whipping up what's not over this issue.

OneCandleAway:
Does anyone hiring a prostitute send money with narration income from prostitution?

What the govt is saying is once over 800k a year passed through the account then they'll tax

Absolute bollocks!

This isn't the case at all.

..and in return the FG will make health care free so you can seek treatment for any diseases you contract

anonimi:
Yes o.
The tax master who built Lagos without water supply must have money to steal to buy votes with stomach infrastructure palliatives.

Who will save us from ourselves, for allowing this APC extreme poverty shege to happen in 2015?



https://www.youtube.com/watch?v=g5v-F81hNTs

Like I just weak sometimes when I hear these guys talking Sha

This whole tax system, I don't really understand how it will work yet.

I hope this is not coming to rob people of their hard earned money.

For instance I have a land somewhere that I bought from saving from my salary and I want to sell the land at an amount say 10M to solve my problem, so as the money hit my account, government will rush to remove tax.

Or money I have been saving from my salary over the years in my account somewhere, say like 15M, so when the new law take effect, government will rush to remove tax from that money.

Take note I have been paying tax from my salary all this years.

Won't the two scenarios above amount to double taxing.

Someone should please explain how this thing will work to me. So I can understand better and know what to do going forward with my money.

Some runs girls pay tithe

PerfectStranger:
So prostitution is now legal in Nigeria? How about compulsory insurance for them too should in case of any eventuality

Don't mind the idiots in government nowadays. So armed robbers, kidnappers and the likes will also pay tax.

2027 too far I beg.

Oga GEJ is coming, if you know you know.

Konquest:
That's the way it is globally. Tax is compulsory worldwide BUT MUST be utilized for critical developments for the good of ALL. Why the headline sensationalism here from this highly insidious online publication called Peoples Gazette that is well-known for spreading massive disinformation just like Omoyele's SR?

same way you guys said subsidy is not good that it is harmful to the economy, once removed the economy will improve, now every form of subsidy has been removed, has their been any improvements in the lives of Nigerians, no ,instead things has become worse,now you guys have moved on to taxation, with the miserable state of the economy, telling lies about taxation as the panacea to the same problem you said removal of subsidy will solve,because you guys don't understand economics, it is not all economic woes you apply taxation, you can't tax your way to prosperity
The are instances that governments can even reduce or suspend taxes to stimulate the economy
But Chicago graduate, na one way ,collect and spend, collect more and spend, he is unaware he had responsibility for the welfare of the nation
And his supporters are so dump to support every of his moves because they think God sent them to earth to serve and worship Tinubu

OneCandleAway:
They Will be taxed. Even if you're sending money to your child/ward, once it's above 80k per month the child will be taxed

You are wrong on the second part. Prostitution would be taxed, but you won't be tax if you are sending money to your kid.

The kid would be asked to explain the source of the money if thru a service or a gift.

Stop the misinformation

dappydozzy:
Nigerians, we can be funny at times, we are very good at misinterpreting statements or comments. Prostitution is not a crime in Nigeria, but a social vice, but is also a source of income for those engaged in it. Armed robbery is a crime and a capital offence which attracts capital punishment, you cant even call it a source of income talkless of taxing i[color=#990000][/color]t. It is not recognised as a source of income either legitimate or illegitimate in the eyes of the law.

[b][/b]
See, fo proceed of crime the taxman know want know the place you get your money from e go come meet you with e calculator. Collect tax from the taxable part. For Nigeria na after #800k.
So if hand come catch the criminal e go loose all the money wey e thief (if na poor man)

Basic123:
In the next 10yrs we will move totally from dependence on crude oil sales and price for our budgets

and build 24 lane highways.

He forgot to inform the pastor and th congregation that the church income would be taxed, since they are going bunkers in that tax office. A pastor gave him the platform to address the church on tax matters, then the Nicodemus should use the opportunity to widen the tax net, afterall an income is earned by the church through service.

ThierryJay:
Lol, you are just worrying yourself for nothing. The new tax laws do not state that bank inflows will be taxed. Only inflows that are income to your wife will come under risk of tax.

So let your wife do her collections in peace

how will the bank distinguish that just like the income of the ashawo, its like you do not understand

CodeTemplarr:
and build 24 lane highways.

Don't mind the scammers

Consent is granted when you tax illicit businesses like yahoo, kidnapping, robbery, bunkering, looting, etc. Shai, crime has eventually become a lucrative business. Many young minds would now indulge in spree illicit business

MT:
If they earn above the threshold, they must pay taxes, like any other countries.

Are they going to benefit from the dividend of government like any other countries?

ednut1:
Olosho will start asking for cash only be that

Cash of 50k is not possible but they will increase price and add VAT and tax on it

If na so make dem dey tax armed robber and kidnappers too. Since all na illegitimate income. Nonsense encouraging prostitution.

Alliswell248:
You are wrong on the second part. Prostitution would be taxed, but you won't be tax if you are sending money to your kid.

The kid would be asked to explain the source of the money if thru a service or a gift.

Stop the misinformation

So how many people's inquiry will they have time to process explaining the reason/source of inflow into their account, in this Nigeria.

Basic123:
In the next 10yrs we will move totally from dependence on crude oil sales and price for our budgets

Move from dependence on crude sales to what TAX REGIME cos the policies and actions of the government are not enabling for Productivity and business startup or Survival

Its not about Meeting our budget, is not every food that goes into the mouth that nourishes the body

Lets say we are transitioning from crude dependence to Agriculture or technology export thats what nourishes n build the economy ... not Tax Tax as replacement

No country ever Tax herself to prosperity, its a complete waste of sacrifice the people are heavily Tax and the system leakages for corruption are not Fixed

collecting more More money from the People and giving it to the governors is one the dumbest sheet .... Tax works in developed world cos there is accountability, sincerity and willingness to do right, Nigeria is in total contrast

Omihanifa:
https://gazettengr.com/nigerians-into-sex-work-runs-to-pay-tax-going-forward-oyedele/

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