₦airaland Forum

mikeapollo:
It may still not make any difference in this country. Fighting corruption has more to do with respect for rule of law, judicial processes and system, citizen's level of education, awareness, poverty levels, unity of purpose, social security and empowerment etc.
One still cannot do jack if a governor or govt official embezzles money so far the current systems remain the same, even if one pays 30% tax or CGT.

mikeapollo:
I was even thinking that the first threshold of N150m would be exempted, than the excess would be taxed

Ginalex:
Finally!

Namaster:
One of the major goals of the NTA 2025 is to harmonise several taxes.

For the purposes of taxation, the NTA 2025 treats CGT EXACTLY like Income Tax.

So if an unemployed individual makes profits of #200M in Capital Gains on the NSE, he'll be taxed like someone who works a high-paying job and earns a salary of #200M.

First 800k would be taxed at 0%
Next #2.2M taxed at 15%
Next #9M taxed at 18%
Next #13M taxed at 21%
Next #25M taxed at 23%

Remaining #150M would be taxed at 25%

Instead of getting #20M, the government would get #47.93M from YOUR money.

That's MORE than a 100% increase in Tax Liability!

Yet Oyedele is out there CAMPAIGNING for the New Reforms and touting its "simplicity" as if people are happy to take simplicity in exchange for being FLEECED to death.

It's even WORSE for Corporate entities.

Instead of paying #20M based on the Old Laws, they'd pay #60M according to the NTA 2025. Or #50M if Tinubu eventually reduces CIT to 25%.

People will eventually RUN away from NGX.

faoogoke:
Mr Oyedele is the only one who understands the new Tax law, and he will explain tire.

KarlTom:
You're confusing turnover and profit wrt Corporate entities.

₦200m turnover will definitely not translate to ₦60m tax...

Namaster:
One of the major goals of the NTA 2025 is to harmonise several taxes.

For the purposes of taxation, the NTA 2025 treats CGT EXACTLY like Income Tax.

So if an unemployed individual makes profits of #200M in Capital Gains on the NSE, he'll be taxed like someone who works a high-paying job and earns a salary of #200M.

First 800k would be taxed at 0%
Next #2.2M taxed at 15%
Next #9M taxed at 18%
Next #13M taxed at 21%
Next #25M taxed at 23%

Remaining #150M would be taxed at 25%

Instead of getting #20M, the government would get #47.93M from YOUR money.

That's MORE than a 100% increase in Tax Liability!

Yet Oyedele is out there CAMPAIGNING for the New Reforms and touting its "simplicity" as if people are happy to take simplicity in exchange for being FLEECED to death.

It's even WORSE for Corporate entities.

Instead of paying #20M based on the Old Laws, they'd pay #60M according to the NTA 2025. Or #50M if Tinubu eventually reduces CIT to 25%.

People will eventually RUN away from NGX.

KarlTom:
You're confusing turnover and profit wrt Corporate entities.

₦200m turnover will definitely not translate to ₦60m tax...

Namaster:
It seems like you MISUNDERSTOOD that post.

I NEVER mentioned Turnover.
I was talking about the GAIN. Or more specifically, the Capital Gains.

Capital Gains Tax is taxed on the GAINS aspect. Not the Turnover.
My post took that into account.

And it's still FACTUALLY correct.

If an INDIVIDUAL makes Capital Gains of #200M, his tax liability (CGT) would be #47.93M.

If a (large) COMPANY makes a Capital Gains of the SAME #200M, its tax liability (CGT) would be #60M. That is 30% (CIT rate) of #200M.

Under the Old Tax Laws, BOTH of them would have paid #20M, I.e a flat rate of 10%. Under the NTA 2025, they'd be charged to tax based on PIT and CIT rates.

mikeapollo:
People must be mad to give N47m to a govt. out of N200m gain.
This govt thinks we have saw dust in our brains?
Imagine the reckless audacity to even propose and pass such law! And that Taiwo Oyedele is still going round promoting this law?

Namaster:
It seems like you MISUNDERSTOOD that post.

I NEVER mentioned Turnover.
I was talking about the GAIN. Or more specifically, the Capital Gains.

Capital Gains Tax is taxed on the GAINS aspect. Not the Turnover.
My post took that into account.

And it's still FACTUALLY correct.

If an INDIVIDUAL makes Capital Gains of #200M, his tax liability (CGT) would be #47.93M.

If a (large) COMPANY makes Capital Gains of the SAME #200M, its tax liability (CGT) would be #60M. That is 30% (CIT rate) of #200M.

Under the Old Tax Laws, BOTH of them would have paid #20M, I.e a flat rate of 10%. Under the NTA 2025, they'd be charged to tax based on PIT and CIT rates.

Mpeace:
No one is noticing NAHCO and NASCON moving up gradually.

yMcy56:
ELLAHLAKES
MM against seller....
Who wins the battle?

* Seller(s) doesn't have infinite volume I blvd...

Princkez:
see VFDGROUP you mentioned yesterday is now 11+ ,even touched 12+ earlier in day.

yMcy56:
ELLAHLAKES
MM against seller....
Who wins the battle? smiley

* Seller(s) doesn't have infinite volume I blvd...

KarlTom:
What we're experiencing with ELLAH is proper JiJo.
The so-called sellers are people who are panicking...

The real market manipulator(s) sold off on Monday

yMcy56:
Is this an assumption?
You can never properly understand what these guys could be up to sometimes....

I saw a kind of pattern in the trading of ELLAH, similar to how OANDO moved around 9 and 15....
Breakout will see Ellah above 20..

faoogoke:
Mr Oyedele is the only one who understands the new Tax law, and he will explain tire.

KarlTom:
The bolded is an observation of a trend
I might be wrong though but I have correctly observed this the recent ELLAH rallies only does around 40% then it dips again...

In comparison, OandO news could sustain the rally in 100s of %

ELLAH needs properly substantiated news to breakout

Streetinvestor2:
A government that could not tell the people how much it cost to do a kilometer of fraud called costal high way.Abi find it offensive to be asked to be accountable on such project want me to pay 25% from my gain on investment. That will only happen with gun on my head.

RodgersAkpafu:
Nigerians are gonna learn a very bitter lesson from next year

All these "i dont care bout systemic rot" because I am gaining kobo kobo here and there and I can eat rice and chicken and drive motor therefore im living fine will be slapped out of their faces

Their pockets are about to get raided big time, they will pay by the barrel of the "gun" and they will see the govt squander the proceeds

mikeapollo:
That is ''government robbery''

GeneralDae:
Foreign investors might be on their way back to the stock market due to FX reforms:

“Last year, Nigeria got kicked out of the Frontier Market club because foreign investors couldn’t take their money out.
Translation: “Una economy no get door.” 😭

Now, FTSE Russell just added Nigeria to the watch list for a comeback”

Source: Cowrywise