₦airaland Forum

TemporaryHansel:
Someone ran away from here since, for him to crawl out of his shell now means he has been activated by APC once more, congrats to him on his latest cash out.

Are you scared to quote me?

I asked you a simple question, it's been 4 hours and yet not a single response, is it because you haven't read the tax law or there's nothing you disagree with?

Segedinho:
The matter weak me like over-riped dodo.


Have never seen anyone, anywhere supporting the forthcoming already "looted in advance tax" until today.


It is well.na to just fold hand dey watch....

If Mr A ,B and C no chop sansa ..me self no go chop sansa

Still the same Sege I see. Not surprised a bit.

If I ask if you have read the tax law now, I know what the answer will be.

Ellexy:
I trust him to come up with another epistle in order the shift the goalpost once again.

Your trust was not misplaced. Dem don move goalpost out of stadium.

But it looks like this new tax law is better than the old one now?

Abi na me no read am well?

A40:
https://x.com/HotNewHipHop/status/1978848297172279536?t=wUTMMm9cheioMScYj7Uofw&s=19

Sample Nas bars for here though I know say you no too like am

@Ibime

This is an old verse

My problem with Nas is his end rhymes have been sloppy and don't land on the ending snare. This has been the case since after the I am album

Listen to this and hear his rhymes on It was Written. Every end rhyme landing on snare perfectly.

https://youtube.com/shorts/eZ3fj0L_U30?si=o51v8KWLAQg3610r

While this verse you shared is decent, it's probably form the early 2000s, and he is already missing the snare on his end rhymes by this point

afrodoc:
But it looks like this new tax law is better than the old one now?

Abi na me no read am well?

They have not read a single page of the tax law, they are just parroting the same thing they see their influencers parrot online.

There are even plenty things to use to beat Tinubu led administration especially the nonsensical pardon that was granted days ago but they are dwelling on a tax law that reforms our tax regime, streamlines previous taxes, remove double taxation, even zero rated VAT on basic food items, medical and pharmaceutical products, educational books and materials, electricity, medical services and tuition fees. The VAT on all these are 0%.

There's a reason I kept asking them which part of the new tax law they disagreed with or bad or anti people.

Ibime:
This is an old verse

My problem with Nas is his end rhymes have been sloppy and don't land on the ending snare. This has been the case since after the I am album

Listen to this and hear his rhymes on It was Written. Every end rhyme landing on snare perfectly.

https://youtube.com/shorts/eZ3fj0L_U30?si=o51v8KWLAQg3610r

While this verse you shared is decent, it's probably form the early 2000s, and he is already missing the snare on his end rhymes by this point

This was with Big L. Big L died like early 1999 unless they recorded it posthumously with his vocals.

When it comes to delivery and standing and rhyming on point my favorite rapper is actually Dr Dre (yeah I know they write for him) I just have healthy respect for Nas and his actual bars.

If we begin count rappers that don't rhyme with beat. So many people will have their legacies revisited

larride:
They have not read a single page of the tax law, they are just parroting the same thing they see their influencers parrot online.

There are even plenty things to use to beat Tinubu led administration especially the nonsensical pardon that was granted days ago but they are dwelling on a tax law that reforms our tax regime, streamlines previous taxes, remove double taxation, even zero rated VAT on basic food items, medical and pharmaceutical products, educational books and materials, electricity, medical services and tuition fees. The VAT on all these are 0%.

There's a reason I kept asking them which part of the new tax law they disagreed with or bad or anti people.

Can you please give the figures of the tax to be paid on monthly salaries of 100k, 200k, 500k under the old and new tax systems?

A President that listens, but na Raumdeuter, Airmark and Gloriousgbola go dey defend rubbish

afrodoc:
But it looks like this new tax law is better than the old one now?

Abi na me no read am well?

Taxes have never been the problem. It's what they do with it that makes people question whatever tax method is used.

Now when you have a reckless government that wastes money on overrated foreign trips, build extravagant and overpriced houses for themselves, move with convoys like trains with a 100 coaches etc, no matter the type of tax law they introduce, it will be resisted.

The other day a governor's wife travelled to Turkey with 20+ other women they say are LG chairmen's wives and this is excluding their personal aides o for some kind of retreat. This is at a time the government is telling the people to endure harsh economic policies. But they are using the funds collected from the public meant for social amenities to lavish abroad

This was how Mahmood Yakubu swore with his mother's grave that he will transmit election results electronically only to sneak out in the dead to night to announce fake winner, and blamed it on glitches he has never explained till date

Abeg let them tell this one that we are not believing any nonsense until we see.

Yakubu has gone down history to be the worst INEC chairman. Make hand touch am wherever he dey

Spy360:
A President that listens, but na Raumdeuter, Airmark and Gloriousgbola go dey defend rubbish

Nonsense.

AGF Fagbemi is just trying to save face after the well deserved outcry.

He said nobody has been released but we saw Maryam Sanda with her in law doing press conference abi no be she?

Them dey call you drug baron, you became President and your pardon list is filled with convicted drug runners and the likes coupled with stone cold killers and kidnappers.

Terrible decision and personal optics

Tueh

afrodoc2:
Can you please give the figures of the tax to be paid on monthly salaries of 100k, 200k, 500k under the old and new tax systems?

I already did. I will tag you to it.

larride:
Do you mean 200k per month or 200k Per Annum?

Because if it's 200k per Annum, the person is excluded from paying tax.

If it's 200k per month, that's 2.4m per Annum

Under the current law with standard 8% compulsory pension deduction which is not taxable, 8% of 2.4m is 192k

2.4m - 192k = 2,208,000

Under the current law, we have the consolidation relief allowance which is in two parts

1. 200k or 1% of gross income whichever is higher = 1% of 2.4m is 24,000, 200k is higher

2. 20% of gross income minus pension. 20% of 2,208,000 is 441,600

Consolidated relief allowance will be 200,000 + 441,600 = 641,600

Total taxable income will be 2,208,000 - 641,600 = 1,566,400

Now to how the tax will be calculated

First 300,000 at 7% = 21,000
Next 300,000 at 11% = 33,000
Next 500,000 at 15% = 75,000
Remaining 466,400 so
Next 500,000 at 19% = 88,616

Under the current law, the person tax per Annum will be 21,000 + 33,000 + 75,000 + 88,616 = 217,616

If you divide 217,616 by 12, the person tax responsibility monthly will be 18,135.

Now under the new law as proposed by Mr Taiwo

With the same 8% standard pension, we still have the same 2,208,000 gross income minus pension.

The new law abolish the consolidated relief allowance and introduce the rent relief which is 500,000 or 20% of gross income.

Lets say this person work in Lagos and pay a house rent of 500k per Annum, he's eligible to claim 20% of that house rent as rent relief.

So here's the calculation

2.4m - pension = 2,208,000

20% of 500k house rent = 100,000

2,208,000 - 100,000 = 2,108,000

Totally taxable income is 2,108,000

Here is how the tax will be administered under the new law

First 800,000 is tax free

So 800,000 - 2,108,000 = 1,308,000

The new law uses a progressive tax rate

800,000 - 3m at 15%
3m - 12m at 18%
12m - 25m at 21%
25m - 50m at 23%
Above 50m at 25%

Using the above tax rate, 1,308,000 falls under the 15% range, so the person will pay 15% of 1,308,000 = 196,200

Total tax due per Annum will be 196,200 if you divide it by 12, you get 16,350 per month.

Under the old law, the person earning 200k will pay higher tax than under the new law and anyone earning below 800k per Annum is tax free.

Please tell me again, how is Mr Taiwo taxing the poor?

@afrodoc2

Same calculation works for the rest you mentioned.

Though the person earning 100k now under the new law will pay significantly lower taxes.

100k is 1.2m per Annum

Under the new law, the first 800k is not taxable

Leaving 400k, he has a rent relief of 20% of his annual rent or 500k, whichever is lower. Let's say the person is paying a rent of 200k per Annum, the person get a rent relief of 40,000. If the person is paying pension at 8% that's 96,000.

96,000 + 40,000 = 136k deductible

400,000 - 136,000 = 264,000

The person fall into the 15% tax rate = 15% of 264,000 = 39,600

The total tax the person earning 100k per month will be 39,600 per Annum, if you divide it by 12, it turns to 3,300 tax per month

Under the current law using the same calculation as above, the tax responsibility of someone earning 100k is 96,600 per Annum, divide it by 12 and you get 8,050 tax per month

So under the new tax law, the person earning 100k will pay significantly lower tax than he's currently paying.

Spy360:
A President that listens, but na Raumdeuter, Airmark and Gloriousgbola go dey defend rubbish

The explanation/clarification makes no sense one bit !

So the AGF is saying they are reviewing what the president has already approved ? How ? In what world does an appointee of the president go back to review what the president has already passsed approval on?

Even in big companies where u get approval for USD payments that reaches a particular threshold that requires CEO’s approval ; if u don see CEO approval na make payment officer process remain. There’s no review you want to do again when you already confirmed the CEO approved himself .

So how can Lateef Fagbemi claim he’s reviewing the presidential pardon after the president has approved ? Mind you , in the state house release initially they claimed the AGF chaired a committee that received 243 applications , listened to their testimonies, interviewed them and reviewed their cases before forwarding 175 names to the president for approval .

What they admitted by that press release was that they interviewed the notorious kidnapper kelvin who killed a former deputy governor and kidnapped ozekhomen ; yet somehow, they think releasing him makes sense. They also interviewed over 40 illegal miners and thought releasing them makes sense more than people sentenced for petty theft like stealing tubers of yam. They are saying they interviewed 70 drug dealers/drug mules, and they thought it wise to let them enjoy the good grace of a president that had over $400k linked to drug trade seized from him by the government of United States.

See they are not reviewing any shiiit, they are just trying trying to cover face from the backlash that followed the release of the ludicrous pardon list. Imagine they claimed they involved CAN, NBA, Supreme council of Islamic affairs, etc in the initial review just to force it down our throat. When they see how people have reacted including their staunch supporters, they are trying to deceive us by claiming an AGF is reviewing what the GCFR has already given 100% approval. ☹️

Spy360:
A President that listens, but na Raumdeuter, Airmark and Gloriousgbola go dey defend rubbish

now post where i defended the pardons

my post history is open

we are waiting

When your hero is a two bit underperforming philosophy grad it impacts on your already limited and diminished capacity for reason and you will be imagining posts everywhere

izzou:

wendell simlin squared pro max

do not believe anything you see or hear o the internet

now excuse me - i am off to the airport in my luxury car to catch a flight in my private jet .

izzou:

This thing just be like make one oyinbo come Nigeria snap picture with Baálè of Okokomaiko or Baálè of isashi then go back to his country write epistle about how he was honored in Nigeria

Reno lives and will probably die for clout.

GloriousGbola:
wendell simlin squared pro max

do not believe anything you see or hear o the internet

now excuse me - i am off to the airport in my luxury car to catch a flight in my private jet .

BlueRayDick:
This thing just be like make one oyinbo come Nigeria snap picture with Baálè of Okokomaiko or Baálè of isashi then go back to his country write epistle about how he was honored in Nigeria

Reno lives and will probably die for clout.

[color=royalblue]I don't even see how he hopes to come out of this pit wey e dig for himself.

This one just carry ammunition and RPG, give Obidients. [/color]

afrodoc:
But it looks like this new tax law is better than the old one now?

Abi na me no read am well?

[color=royalblue]Tax and accounting is not my forte. I cannot even deduce what the whole stuff entails.

But I know that many Nigerians will not be taxed.

And I also foresee cash payments being popular again. All these Olosshows wey dey charge 150k per night, go collect 100k cash, and 50k transfer, to stay within the 800k per annum category [/color]

izzou:
[color=royalblue]I don't even see how he hopes to come out of this pit wey e dig for himself.

This one just carry ammunition and RPG, give Obidients. [/color]

Reno is shameless and when a man is shameless, there's nothing he won't do to have his hand continually stick in the cookie jar.

If Reno can backtrack on all the vile things (both true and untrue) he said about Tinubu only to be the unofficial defender of Tinubu, then this particular matter is not something he won't try to wriggle his way out.

Unfortunately, the moment he starts to appeal to emotions of people like making it about him being attacked because he supports the ruling government ; in no time he will have supporters of the ruling government standing by his side ASAP.

izzou:
[color=royalblue]Tax and accounting is not my forte. I cannot even deduce what the whole stuff entails.

But I know that many Nigerians will not be taxed.

And I also foresee cash payments being popular again. All these Olosshows wey dey charge 150k per night, go collect 100k cash, and 50k transfer, to stay within the 800k per annum category [/color]

which would lead to the return of home invasion armed robbery. though it is already happening up north.

edit

All these Olosshows wey dey charge 150k per night,

you seem to be as familiar with the rates for OS work as you are familiar with rates for logistics

GloriousGbola:
which would lead to the return of home invasion armed robbery. though it is already happening up north.

[color=royalblue]Is the scarcity of cash, the reason why armed robberies are less these days?

I doubt

So, I'll use Lagos because that's where I reside. Lagos has an economy for robbers, which is the Agberos system. Many unemployed Youths would think of robbing as the last resort, because they can stand along the road and collect money; All of us dey sustain ourselves

Can you remember that the last time we heard "1 million boys", was around Covid? That was when they stopped their daily bread from coming

I don't think the scarcity of cash reduced robberies. If a robber shows you a Cutlass and gives you an Opay account, you must transfer [/color]

izzou:
[color=royalblue]Is the scarcity of cash, the reason why armed robberies are less these days?

I doubt

So, I'll use Lagos because that's where I reside. Lagos has an economy for robbers, which is the Agberos system. Many unemployed Youths would think of robbing as the last resort, because they can stand along the road and collect money; All of us dey sustain ourselves

Can you remember that the last time we heard "1 million boys", was around Covid? That was when they stopped their daily bread from coming

I don't think the scarcity of cash reduced robberies. If a robber shows you a Cutlass and gives you an Opay account, you must transfer [/color]

but you can always trace the opay account back

my memory may be hazy on this - but most of the robberies in the recent past have been tied to people doing large cash transactions or carrying dollars. i witnessed one in orile in 2014. some guy was moving with money and robbers closed down the road to take it from him.

any robbery where you use opay card can be traced back to the operator. also why imho they are now imposing new rules for POS operators

before transfer - any transaction involving cash, you will be sweating. 2015 we were to give a community money for project. we carried it in ghana must go. of course everyone was sweating because one idot may have told his friends there was cash for the taking.

just as cash transactions have no paper trail record, cash robbery has no paper trail - at least in naija where we don't seem to record serial numbers

before before buying a car is fraught with risk as you can be set up. go to buy the car. fail to agree, go back home when it is too late to return the cash to the bank and have robbers in your house later that night

izzou:
[color=royalblue]Tax and accounting is not my forte. I cannot even deduce what the whole stuff entails.

But I know that many Nigerians will not be taxed.

And I also foresee cash payments being popular again. All these Olosshows wey dey charge 150k per night, go collect 100k cash, and 50k transfer, to stay within the 800k per annum category [/color]

Nigerians are vexed because typical of Nigeria, most times what is stated on paper don't usually play out in real life most times. There have been talks of the new tax law curbing multiple taxation but we will only know the true picture of things come 31st January 2026 when most people must have felt the impact of the new tax law either by the tax deducted from your salary or what the relevant tax authorities will demand from you after the first month of the new tax year.

For example they currently take more than x2 of some people's salary from my monthly income as tax. When I get periodic allowances it gets taxed too heavily and if I make investment from my already taxed income to earn interest ; I still pay tax on that income as well. Let's not forget that for every 10,000 that gets credited to my account the bank takes 100 naira on behalf of government which in itself is a tax. i.e if for example I move money from my salary account to my savings account or any other bank account, they will remove 100 naira from the receiving account.


Come 2026 one would need to see how all of these play out ; it is only then one can know if the talks about the tax law eliminating multiple taxation is real talk or if it's just government propaganda as usual.

We would also be interested in how sloths like NURTW people who collect cash on a daily basis are made to pay tax and not just only hardworking people.....

The people are also vexed with Oyedele whose job is to make them pay tax while nothing is being done about the corruption of the upper class. Nobody is happy paying tax to a government headed by Tinubu that would award a mega contract like the coastal road to Abacha's crony without following due process. It's just a case of people not trusting their leaders and they are nit wrong for not trusting them.

GloriousGbola:
but you can always trace the opay account back

my memory may be hazy on this - but most of the robberies in the recent past have been tied to people doing large cash transactions or carrying dollars. i witnessed one in orile in 2014. some guy was moving with money and robbers closed down the road to take it from him.

any robbery where you use opay card can be traced back to the operator. also why imho they are now imposing new rules for POS operators

before transfer - any transaction involving cash, you will be sweating. 2015 we were to give a community money for project. we carried it in ghana must go. of course everyone was sweating because one idot may have told his friends there was cash for the taking.

just as cash transactions have no paper trail record, cash robbery has no paper trail - at least in naija where we don't seem to record serial numbers

All these ones wey u dey talk na because u never enter one chance along Ketu/Berger to Iyana Oworo axis and Charley boy/Gbagada to Iyana Oworo axis.

If one chance operators hold you they will wipe all your account and ask your family members to still transfer to your account before they release you or dump Ur body somewhere for them to pick.

If you listen to people's account of how they were cleaned out following their encounter with these dare devils, you will understand that not having cash even puts u in danger when u encounter them.

Few months ago a colleague was a victim, tbey cleaned her out and still said the money was to small. They called her family members, church mule hers and her manager in the office that she has been kidnapped and currently in their custody. They put her on phone while she was being hit in the knee with hammer.

People had to rally round to send cash before they dumped her injured at one bus stop. Police were later requesting substantial cash to investigate the case ; imagine someone that was cleaned out and police requesting for money.

When she traced the money through her bank, they revealed the money was moved from the receiving account almost immediately and there's no cash in the receiving account again. Although they placed a lien on the reviving account, but it's of no help to her.

BlueRayDick:
All these ones wey u dey talk na because u never enter one chance along Ketu/Berger to Iyana Oworo axis and Charley boy/Gbagada to Iyana Oworo axis.

If one chance operators hold you they will wipe all your account and ask your family members to still transfer to your account before they release you or dump Ur body somewhere for them to pick.

If you listen to people's account of how they were cleaned out following their encounter with these dare devils, you will understand that not having cash even puts u in danger when u encounter them.

Few months ago a colleague was a victim, tbey cleaned her out and still said the money was to small. They called her family members, church mule hers and her manager in the office that she has been kidnapped and currently in their custody. They put her on phone while she was being hit in the knee with hammer.

People had to rally round to send cash before they dumped her injured at one bus stop. Police were later requesting substantial cash to investigate the case ; imagine someone that was cleaned out and police requesting for money.

When she traced the money through her bank, they revealed the money was moved from the receiving account almost immediately and there's no cash in the receiving account again. Although they placed a lien on the reviving account, but it's of no help to her.

If the police are dashed enough money or enough pressure is put on the bank they will trace the entire transaction and hold somone

And as I noted before, this is also why they are now putting stringent rules on pos agents

Spy360:
A President that listens, but na Raumdeuter, Airmark and Gloriousgbola go dey defend rubbish

Quote my post where I defended Tinubu on the clemency. You are like Obi, a dirty liar.

airmark:
Quote my post where I defended Tinubu on the clemency. You are like Obi, a dirty liar.

He must think we are like his darling Peter obi who speaks for MNK.

GloriousGbola:
now post where i defended the pardons

my post history is open

we are waiting

When your hero is a two bit underperforming philosophy grad it impacts on your already limited and diminished capacity for reason and you will be imagining posts everywhere

Spy360 is evil like his principal.

GloriousGbola:
If the police are dashed enough money or enough pressure is put on the bank they will trace the entire transaction and hold somone

And as I noted before, this is also why they are now putting stringent rules on pos agents

You are not getting it. The bank has done what they need to do by placing a lien on the receiving account so nobody can withdraw from that account again but does not help your case. Why? The money they transferred from your account to that account was withdrawn immediately. While you are being held hostage by the criminals, they would've dropped one of their members along the way to go see to withdrawing the money. By the time they are releasing you, the money has already moved. Don't forget that they took your phone, and every other means you can use to get through to your bank, and you will be dealing with injuries and trauma from the incident for the most part of that day before having chance to reach your bank o.

As for the police, e be like you no know how much Nigeria police dey collect to mobilize to sort that kind case. Mind you, at the time they will be demanding that money your net worth is 0.

Make Nigeria no just happen to you, it is only then you will understand the kind of jungle we live in.