₦airaland Forum

advanceDNA:
Sir ......The assessment is not fair..it I because u are not critical in the first place or u don't care that why u can't notice
....classifying tax exempt pple at 66k in this current economy is deceptive and outrightly wicked....When u pple want to compare abroad to Nigeria...u will cherry pick to favor your evil govt....
ignorance...??
Look around you.....the cheapest rent in Nigeria is around 200k......1k can no longer buy a meal for a person, I have not touched bills,
..a 100k per month earner is dead not even poor and shouldn't be near tax with how the currency has been left badly depreciated...

Be critical and compare UK tax exempt to Nigeria....

again...mwhen u want to compare Nigeria to abroad u cherry pick....sir...do the pay u pple do these things?

did u compare our embezzlement rate to other nations like the UK and co......??
Did u compare the natural resources we have and our elites spend alone to theirs....?
u only want to compare what will put more money in the pocket of thieves .....sir..welldone

Someone just told 212billiion naira ..thats just one person, yahaya bello is there..just one person....emefiele is there...that just one person caught......and a host of others that were not exposed because u all know it's a syndicate behavior in Nigeria to steal money


Sir....u are just speaking English slogan....saying tax is vital for society to thrive is statement is for countries who have sane leaders and established system that actually utilize the taxes and other revenue for their pple...
Not pple who use tax payers money to pay terrorist, and enrich themselves...

..sir, I honestly don't get these justification of milking Nigerians when we know where the money will end up......
The fuel subsidy and currency gains have all ended in the pocket of the executives, law makers and judiciary....

There are 16 nations that don't pay taxes including Saudi thats an oil nation... Sir, why don't y'all provide justification with the current set of revenues before coming here to quote slogan......
Hello sir......tax is not for society build up in Nigeria ...it's is for embezzlement because the current collection is heavily embezzled..

Putinofrussia:
Some key takeaways:

For Individuals:
Income Tax Exemption: Workers earning an annual income of ₦800,000 or less are fully exempt from personal income tax (PAYE).
VAT Relief on Essentials: Essential goods and services such as food, medical services, pharmaceuticals, school fees, and electricity generation/transmission are zero-rated for VAT, reducing the cost of living for low-income households.

Progressive Taxation: A more progressive personal income tax structure means high-income earners (above ₦50 million annually) are subject to a higher rate of 25%, ensuring a fairer contribution to the national revenue.
Rent Relief: A new 20% rent deduction (capped at ₦500,000) is available to ease housing costs for employees.


For Businesses:
Small Business Exemption: Small businesses with an annual turnover of ₦50 million or less are exempt from Companies Income Tax (CIT), VAT, and withholding tax, fostering entrepreneurship and formalization.

Corporate Tax Cut: For medium and large companies, the corporate tax rate will be reduced from 30% to 25% starting in 2026 to encourage investment and job creation.

Elimination of Nuisance Taxes: Over 50 nuisance taxes and levies have been eliminated, and tax collection is unified under the new Nigeria Revenue Service (NRS) to reduce the administrative burden and red tape on businesses.

Investment Incentives: Tax credits for VAT paid on capital expenditures and the introduction of Economic Development Tax Incentives (EDTI) for priority sectors (e.g., manufacturing, mining) are designed to attract investment and stimulate growth.

System-wide and Governance Improvements
Streamlined Administration: The creation of the Nigeria Revenue Service (NRS) replaces multiple agencies for a unified and efficient tax collection system.

Transparency and Fairness: The establishment of an Office of the Tax Ombudsman and a Tax Appeal Tribunal aims to resolve taxpayer disputes quickly and fairly (within 14 days in some cases).

Increased State Revenue: A revised VAT sharing formula gives states a larger share of the revenue (55% to states, 35% to local governments, 10% to Federal Government), encouraging fiscal autonomy and internal revenue generation.

helinues:
Your last paragraph,That's a very good question.

Those who have been fuming about the new tax law, how many of them are earning above N800k

jmoore:
Minimum wage is how much annually?

ibsadiq:
Just to confirm my understanding: with the federal minimum wage now at ₦70,000 monthly (₦840,000 annually), doesn’t this effectively mean that almost every formally employed individual becomes taxable, since the PAYE exemption only applies to incomes of ₦800,000 or less?
I understand the tax may be minimal at that level due to progressive bands and reliefs, but in principle, minimum-wage earners would no longer fall under the full exemption. Happy to be corrected if I’m missing something.

Petah:
To be honest, I am more educated about the tax laws from what I have read on this thread. I make around 41k in a month. Now I do some side hustle, that makes it close to 75k a month. Now how will I be charged to pay tax? Is it on the side hustle or just salary. Your kind explanation will be helpful.
@everyone.

advanceDNA:
Sir.... stop misrepresenting facts ....
The 800k is per annum...which is just around 66k per month....
Minimum wage is 70k....even cleaner struggling to survive is not tax exempt....

Grandma tha the son sends 80k that's no longer enough in the economy is not even tax exempt

After destroying the economy and purchasing power of the naira ...APC led govt should know that classifying tax exempt at 66k per month is a deceptive assessment to make sure no one is technically tax exempt....

advanceDNA:
U came to analyze what u don't even know..
U were asking how many of the pple complaining earns 800k because u thought it was 800k per month which will make it a fair assessment...
Taxing 15% on the excess of 66k is overly robbing the poor....if u don't see that then u shouldn't be opening this thread

Wondering why some of you just like to rant instead of discussing u came here to support ur give blindly as usual without knowledge of what u came to support.....yet pple that have an actual view are ranting... ??

Sir ..so they pay u people to leave u braln when u join APC??

Where did you even get all what you wrote above from? This thread was created to enlighten people like you who are being deliberately mischievous
Enlighten pple?? To enlighten pple also involve saying the truth .....
I only showed you the unfair assessment of poor pple exempted from tax based on current economic realities....something u never consider when bllndly following your oppressors...... Sir....If u want to enlighten pple, start with undiluted truth and fairness....

stokfrick:
Is that money, 70k even enough for a normal human being per month to live a life of even management, not to talk of taxing it.
A lot of you here supporting this tax shitt have no conscience left

helinues:
Funnily, the previous tax rate was just so high than the new one as your tax free used to be from the first N300k compared to the new N800k tax free

DoTheNeedful:
Do you mean Nigerians should not pay taxes because government officials are corrupt? This is one of the most silly arguments I have heard from people.

DoTheNeedful:
The fact is that a generally properly-taxed population are more likely to hold their government accountable

DoTheNeedful:
. It is common in hear people in saner climes use the term "tax-payers' money" when being critical of government's spending. This is a term that is alien to us in Nigeria because many people don't pay taxes.....

DoTheNeedful:
By the way, your responses to my previous post are largely dishonest and carefully cherry-picked. I never compared our low tax collection rate to the UK or other advanced countries. I specifically compared it to other African countries. The last time I checked, Nigeria was 3rd or 4th from the bottom in Africa in tax collection rates.

DoTheNeedful:
However, the poor people you pretend to care about pay more taxes under the old law. People earning as low as 400k pay taxes under the old law.

DoTheNeedful:
Like I have repeated on this thread, people like you are very ignorant and just want to oppose the new law just for the sake of it. Your opposition is not data-driven nor well-informed.

DoTheNeedful:
It is unfortunate that we can't debate issues on NL without people like you inputting politics into them.

DoTheNeedful:
The fact that you think my analysis of this tax issue is driven by my political affiliation is unfortunate, and it suggests to me why you are opposing the new tax law in the first place.

DoTheNeedful:
You are just being overly critical. A minimum wage earner earns 840,000 in a year. Based on the new tax law, the 40,000 on top of the 800,000 is taxed at 15%, which means that a minimum wage earner pay 6,000 naira per year (500 per month) in tax. A minimum wage earner pays more than this in the old tax regime.

Many of you that criticize do so either maliciously or due to ignorance.

Our tax collection rate in Nigeria is one of the poorest even in Africa. The understanding of tax by Nigerians terrible. Many of you need to get it into your heads that tax payment is vital for any society to thrive.

Ade1177:
If you are earning below 800kay annually

Your life don spoil for this nigeria

Because how you wan take money that is not even enough for some politicians to spend in 1 day

Na ur own 1yr income

mechanics:
Hmmmm, my annual income is around N3,000,000, so it means my tax will be 15% of my annual income from the former 9%, this is ridiculous, that means by salary will still reduce instead of it to increase.

advanceDNA:
Sir.... stop misrepresenting facts ....
The 800k is per annum...which is just around 66k per month....
Minimum wage is 70k....even cleaner struggling to survive is not tax exempt....

Grandma tha the son sends 80k that's no longer enough in the economy is not even tax exempt
Nobody is actually exempted because then go look for loop holes to make sure them talk say you day earn 70k

After destroying the economy and purchasing power of the naira ...APC led govt should know that classifying tax exempt at 66k per month is a deceptive assessment to make sure no one is technically tax exempt....

DoTheNeedful:
Minimum wage is not meant to be enough for normal people is most places in the world. I live abroad, and in my first few years as a student, I was earning around a minimum wage. You know what? I paid taxes.

I don't see any country that make minimum wage earners comfortable as a serious one.

stokfrick:
I see what you're trying to do. It's either your are misinformed or you are an APC stooge.
Oga stop deceiving people, it is 800k per year which is 67k per month approximately.
Anything above that government will slash your money

DoTheNeedful:
How am I misleading anyone? We all know that people earning 800,000 and below will not pay tax. The calculation is for people earning 840,000.

Under the previous tax law people like you are fighting to keep, people earning 400,000 per annum pay taxes. People earning 840,000 pay even far more than 6,000 they would pay in the new tax regime.

The problem with some of you is that you are ignorant of both the old and new tax laws. You are opposing the new one out of malice, ignorance and/or partisanship.

1Alex:
a whole you dey post this? 800k is per annum. Now divide 800k by 12 months and see that it is only for people who earn ₦67k and below, a month.