₦airaland Forum

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.

nysc boys and girls go dey pay tax be dat

Pedrocross4568:
Can you see how you have just embarrass yourself when you should calmed down and learn.

You people will not learn. you will come online and be typing rubbish. Just read what you wrote and see if it makes sense.

https://www.nairaland.com/8253098/how-people-children-surviving-economy

Gadus, no be you be dis ?

Fiscus105:
Hope you know you are not different from data boys as well.

Why the data boys always praise singing the govt, you are eternally attacking the govt.

A RATIONAL HUMAN BEING WILL SAY IT THE WAY ITS AT ALL TIME.(Critical and commend when they do wrong and right)

THE POSTER OF THIS ARTICLE, IS TALKING ABOUT THE CATEGORIES OF THOSE WHO WILL PAY AND EXEMPTED,SO, HOW HAS HE PRAISING GOVT IN HIS ARTICLE?

Meanwhile, is even good for data boys, because they are taken stipends to do their assignments and not bittered about it, for your case, you are just punishing yourself all days and nights from bitterness.

the sky is falling....is everyone's issue

Message passed

They defended subsidy removal and explained how common man will benefit, they defended floating of naira and it benefit to the economy, they defended electricity hike and other anti-people policies of Tinubu which have caused wildspread poverty and damage to people's purchasing power. Here we are again receiving lectures about new tax format which must surely turn evil at last.

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.

But his submission is correct though.

Isn't it?

The tax law is structured in such a way that poorest will pay too.

helinues:
There have been so many misleading information about the new tax law.

If you are earning below N800k, you won't be taxed and if your earnings fall above N1m which is the first tax rate formula, N800k from your N1m is tax free, the charges on the tax will be on the extra N200k



https://www.youtube.com/watch?v=Lk9knTzLgaM?si=b-3_wsnMVYZPicqP
Individuals Earning Below N800k Annually to be Tax-Exempt - Benson

Does that mean that state government, local government and their touts will stop collecting "levy" from market woman whose annual turn over/ earnings are less than 50m/800k yearly?

Any law made at the Federal level that does not protect these market women is nothing but smoke screen.

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

You dey ment. 810k is just 13 bags of rice in a year. That is abject poverty. And your tribes man just robbing and oppressing the very poor of his beggarly money

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

You will be surprised you'd be paying more. The old rate, though tax free used to be N300k, started from 11%, unlike this one that's starting from 18%. I just used my last year salary to do some calculations and I saw that with this rate, I would be paying more

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.

any body earning less than 3 million year in Nigeriaq is poorest of the poor. I can’t be believe that tinubu wants to tax the poor. Like the poorest of the poor. This is insane. I don’t even have talk for now. Nans is mobilizing a protest. But when Nigeria will burn is during end of this year when the actual Tax will now be deducted from people.

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

Are you okay? 800k per annum is 66k monthly, which is less than the stipulated 70-75k minimum wage.

The implication of this is that the security man and cleaners in your organisation are not exempted. So, who exactly are the beneficiaries of this killer policy?

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.

Tell us the country most countries have a threshold higher than 600 dollars per year before u can pay tax

Tell us the country

No body earning bellow 3.5 million should pay tax in Nigeria none

Minimum wage in Kenya is close to 180,000 naira which translate to 2,160,000 naira in a year when converted to our currency.
Amount exempted from paying tax is 3,219,840 naira in a year


Nigeria minimum wage is 70,000 naira which translate to 840,000 naira in a year
Amount exempted from paying tax is 800,000 naira in a year

Is Nigeria Taxing poverty

Acidosis:
Are you okay? 800k per annum is 66k monthly, which is less than the stipulated 70-75k minimum wage.

The implication of this is that the security man and cleaners in your organisation are not exempted. So, who exactly are the beneficiaries of this killer policy?

Okay. Would you allow the FG to borrow loans at will?

Who earns 800k and above annually in this country?
Just few people I think.
You might think you don't earn above 800k till you check your net income n expenses for the month.
800k annually is like earning approximately 70k monthly.
I might be wrong though on the percentage of earners.

And who will tax poli theif cians earning millions every months…. They sha wan spoil ppl life mk d poor keep getin poorer and rich getin richer…. So if i dnt mk up to 800k annualy im ok and free frm tax

Dy want to set barrier to hw much u make and wat u can do…. It wnt better for dm nd dr family
2026 dm go cry dm go die tire dis av seen….

helinues:
Okay. Would you allow the FG to borrow loans at will?

Bold of you to think taxation will stop the incessant loans. Your government doesn't have a money problem. The issue is management. How can a poor government let Yahaya Bello walk freely after siphoning over #80 billion? Same government wipes out NNPC's $5bn debt.

BAT will rather strangle a man earning 66k monthly than get criminals like Bello to vomit all they've stolen, because there is always that slave willing to defend their wicked, draconian policies.

assuming you are earning 1m per annual you will minus 800k which was the base the remaining 200k will be tax that is progressive
3

bakusha:
Ur explanation is unique, multiply d min wage by 12 months u will see that min wage earners are among the people that will be taxed.

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....

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.

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.

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.

At 70k minimum wage, having 800k annual income for tax exemption is doing nobody any favours cos now even the least govt worker will be paying taxes. So I don't relate the hoax about this point.

Secondly on elimination of nuisance taxes, Can u give examples of taxes that have been eliminated?
Also agencies that will be closed due to the harmonization.
Cos Govt and proponents like u have been shouting these thing since, but not a single example has been mentioned. It's just empty noise, misleading and half truths aimed at deceiving the public

Minimum wage is 70k.
70k times 12 =840k, this means the Tinubu lead government is going to be taxing even Lowes income earner weather is from the 40k or from the 800k tax is tax and you want me to believe that this government have not come to kill Nigerians, ok

Now let us talk about what 840k can do for you in a month in this now a disgrace country

Example in my place
1, Security 5k a month.
2, aspa , people that Park refuse 4k a month
3,Light 10k to 15k a month depending
4, Transportation 30 something k a month depending
5, feeding 40k to 50 a month
6, bandit fees depending on your location

Now tell me what is left for the person to save
Nigeria as a country need an economist as a leader not a drug lord

helinues:
There have been so many misleading information about the new tax law.

If you are earning below N800k, you won't be taxed and if your earnings fall above N1m which is the first tax rate formula, N800k from your N1m is tax free, the charges on the tax will be on the extra N200k



https://www.youtube.com/watch?v=Lk9knTzLgaM?si=b-3_wsnMVYZPicqP
Individuals Earning Below N800k Annually to be Tax-Exempt - Benson

This is not correct…
From 800k - 24m pa is 11%

Acidosis:
Bold of you to think taxation will stop the incessant loans. Your government doesn't have a money problem. The issue is management. How can a poor government let Yahaya Bello walk freely after siphoning over #80 billion? Same government wipes out NNPC's $5bn debt.

BAT will rather strangle a man earning 66k monthly than get criminals like Bello to vomit all they've stolen, because there is always that slave willing to defend their wicked, draconian policies.

Leave ejo wewe and answer simple yes or no question

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

Please stop this . Seems most of you guys are disconnected from the realities . How much is 800k per year ? In fact how much is 2 million per year in this country? Hope you know that 800k is not per month ?
Lets break it down. The average labour on a construction site earns 5k per day . Lets say he works for 27 days a month that is 135k per month . That is 1,620,000 per year . That means 820k is taxable income . Please tell me if laborers look like people who should be taxed in this country ? Are they not one of the poorest in the country ? Laborers dont even have bikes . A decent meal on their level is 2k . Meaning more than 30 percent has gone on a meal .
This tax is oppressive . And they will useless the money they collect anyhow . Just watch . Like they will suddenly become accountable .

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

..grade one .. government civil servants earn 70k new minimum wage..70k is.. 840k .. for a year...which is above 800 k..
Which means grade one civil servants will be taxed 15% .....

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....

private school teachers are earning way below minimum wage.
They are exempted

JobAndVacancies:
private school teachers are earning way below minimum wage.
They are exempted

..grade one government civil servants earn 70k new minimum wage..that is 840k per year which is above 800k..that means level 1 civil servants will be taxed 15%.. level 1 civil servants are not rich people

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.

Why did Tinubu Change what The National Assembly passed, and gazette another thing?

Chucks13:
They have be told severaly but they refused to listen so no need telling them again.

Those looters are the main people misinforming the public so they won't pay anything from their loots.

Looters are not misinforming anyone....looters want you to pay say they can loot more.,

They all have NGO accounts and other accounts exempted from taxes so under the old or new tax law...these looter dont pay very little to zero taxes anyway....

helinues:
There have been so many misleading information about the new tax law.

If you are earning below N800k, you won't be taxed and if your earnings fall above N1m which is the first tax rate formula, N800k from your N1m is tax free, the charges on the tax will be on the extra N200k



https://www.youtube.com/watch?v=Lk9knTzLgaM?si=b-3_wsnMVYZPicqP
Individuals Earning Below N800k Annually to be Tax-Exempt - Benson

That 15% is too much for the first level