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Guys They Have Added The Value Added Tax - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsGuys They Have Added The Value Added Tax (1314 Views)

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Guys They Have Added The Value Added Tax by Dejaadsman(op): 6:20pm On Jan 31
Guys government don do am again o chai, is not too long I sock garri with groundnut and now this.

Maybe the government want me to be eating sand

Re: Guys They Have Added The Value Added Tax by CHIEFCHICKEN: 6:51pm On Jan 31
Yours is even 75.

They didn't pity me angry

Re: Guys They Have Added The Value Added Tax by RichBoy247: 6:55pm On Jan 31
Dejaadsman:
Guys government don do am again o chai, is not too long I sock garri with groundnut and now this.

Maybe the government want me to be eating sand
.
So 0.75 on a 200 Naira charge is what is making you to week, yet you want Nigeria to be like Europe. Ask your brothers in Europe how much Tax in different headings they pay.
Re: Guys They Have Added The Value Added Tax by UzorIyke(m): 7:15pm On Jan 31
RichBoy247:
.
So 0.75 on a 200 Naira charge is what is making you to week, yet you want Nigeria to be like Europe. Ask your brothers in Europe how much Tax in different headings they pay.
Our brothers in Europe tells us the benefits of those taxes, then what our own benefits (what politicians will soon loots out of the country sooner or later).
If they'll accounts for all the money, good luck then let's them take more than this, but if they can't account for it, then let's them keep my money for me.
Re: Guys They Have Added The Value Added Tax by helinues: 7:28pm On Jan 31
So you created a thread because of N0.75. hahaha

No be everything you guys must complain about now
Re: Guys They Have Added The Value Added Tax by helinues: 7:30pm On Jan 31
UzorIyke:
Our brothers in Europe tells us the benefits of those taxes, then what our own benefits (what politicians will soon loots out of the country sooner or later).
If they'll accounts for all the money, good luck then let's them take more than this, but if they can't account for it, then let's them keep my money for me.
That's why the government want to increase the tax base so that those benefits can be circulated. Na you people still don't want the government to be borrowing unnecessarily
Re: Guys They Have Added The Value Added Tax by advanceDNA: 7:32pm On Jan 31
RichBoy247:
.
So 0.75 on a 200 Naira charge is what is making you to week, yet you want Nigeria to be like Europe. Ask your brothers in Europe how much Tax in different headings they pay.
Nigeria cannot be like europe because all the monies will go into the pocket of few…
Re: Guys They Have Added The Value Added Tax by BAILMONEY: 7:36pm On Jan 31
RichBoy247:
.
So 0.75 on a 200 Naira charge is what is making you to week, yet you want Nigeria to be like Europe. Ask your brothers in Europe how much Tax in different headings they pay.
To give you upper-cut via Bluetooth just dey hungry me Walahi 😡
Re: Guys They Have Added The Value Added Tax by advanceDNA: 7:37pm On Jan 31
helinues:
That's why the government want to increase the tax base so that those benefits can be circulated. Na you people still don't want the government to be borrowing unnecessarily
Continue these lies sir….
Its the same lies yall spread when they wanted to remove subsidy on fuel and the naira….. una nor dey tire.. yall did the same thing with buhari…

One day…u will grow old and finally tell your children how you lied for corrupt leader who robbed their future long before they were born…

. I come in peace oooo but i know u wont see it as peace because all you see is opposition vs ruling party
Re: Guys They Have Added The Value Added Tax by helinues: 7:43pm On Jan 31
advanceDNA:
Continue these lies sir….
Its the same lies yall spread when they wanted to remove subsidy on fuel and the naira….. una nor dey tire.. yall did the same thing with buhari…

One day…u will grow old and finally tell your children how you lied for corrupt leader who robbed their future long before they were born…

. I come in peace oooo but i know u wont see it as peace because all you see is opposition vs ruling party
Oya tell us if there was something like the new Lagos Calabar coastal highway before
Re: Guys They Have Added The Value Added Tax by RichBoy247: 7:53pm On Jan 31
UzorIyke:
Our brothers in Europe tells us the benefits of those taxes, then what our own benefits (what politicians will soon loots out of the country sooner or later).
If they'll accounts for all the money, good luck then let's them take more than this, but if they can't account for it, then let's them keep my money for me.
.
The benefits are very high electricity bill and gas bills which several citizens cannot afford therefore they are freezing badly, high transport fares and homelessness
Re: Guys They Have Added The Value Added Tax by advanceDNA: 7:57pm On Jan 31
helinues:
Oya tell us if there was something like the new Lagos Calabar coastal highway before
U mean the 10km in two years highway with trillions of naira gone ?? This is exactly why tax payers money will never benefit tax payers…. Projects like coastal highway is how money ends up in the pockets of few like mallami……

baba calm down….a slave will never be slave for life… If his master doesn't set his him free, time will do so eventually…. 8 years will soon reach
Re: Guys They Have Added The Value Added Tax by helinues: 8:05pm On Jan 31
advanceDNA:
U mean the 10km in two years highway with trillions of naira gone ?? This is exactly why tax payers money will never benefit tax payers…. Projects like coastal highway is how money ends up in the pockets of few like mallami……

baba calm down….a slave will never be slave for life… If his master doesn't set his him free, time will do so eventually…. 8 years will soon reach
So what would you now say about some last presidents that awarded most of their own projects in paper?

Remember the governors stopped owing salary or borrowing unnecessarily as they are being taken care by the FG handsomely
Re: Guys They Have Added The Value Added Tax by UzorIyke(m): 8:49pm On Jan 31
helinues:
That's why the government want to increase the tax base so that those benefits can be circulated. Na you people still don't want the government to be borrowing unnecessarily
Wetin Dr. Zacch Adedeji, Cardoso, Tinubu and co, go soon loot sooner or later.
grin grin guys dey talk as if, you no dey 9ja again, as if you have forgotten how bad and corrupt the institutions is.
Re: Guys They Have Added The Value Added Tax by advanceDNA: 8:59pm On Jan 31
helinues:
So what would you now say about some last presidents that awarded most of their own projects in paper?
u award project on paper or u use 10years to complete 100k rd …Same thing sir… all na embezzlement

helinues:
Remember the governors stopped owing salary or borrowing unnecessarily as they are being taken care by the FG handsomely
Oh.. salary payment for work done is now an achievement sir?? If salary payment is the only achievement we have for all our oil revenue, IGR, removal fuel and naira subsidy, dont u think there is problem sir ??
Re: Guys They Have Added The Value Added Tax by Gotocourt: 9:14pm On Jan 31
RichBoy247:
.
So 0.75 on a 200 Naira charge is what is making you to week, yet you want Nigeria to be like Europe. Ask your brothers in Europe how much Tax in different headings they pay.
Make Bandits hold you fess, no worry yourself angry
Re: Guys They Have Added The Value Added Tax by grandstar(m): 11:21pm On Jan 31
UzorIyke:
Our brothers in Europe tells us the benefits of those taxes, then what our own benefits (what politicians will soon loots out of the country sooner or later).
If they'll accounts for all the money, good luck then let's them take more than this, but if they can't account for it, then let's them keep my money for me.
The only benefit of these taxes for now is that it could keep the Naira stable for the next ten or even 20 years.

Another benefit may 24hour power supply. The money from these taxes will provide the fiscal power to finance massive increases in transmission capacity and also upgrade the electricity infrastructure.

So, there are benefits. Nigeria isn't Switzerland or the UK. Non-oil tax collection is barely 5% of GDP, while theirs is over 35%. It's like expecting someone who graduated uni 2 years ago working in a bank to fair as well as a man who has been working for 30years in the same bank. The guy may even be the branch manager.
Re: Guys They Have Added The Value Added Tax by Jamie248: 11:32pm On Jan 31
UzorIyke:
Our brothers in Europe tells us the benefits of those taxes, then what our own benefits (what politicians will soon loots out of the country sooner or later).
If they'll accounts for all the money, good luck then let's them take more than this, but if they can't account for it, then let's them keep my money for me.
Listen y'all, have Nigerians not been paying taxes all this while?? Have they (government) ever accounted for same? Have they ever spent/deployed such resources responsibly?

The absence of critical thinking from the mental faculty of 99% of Nigerians is painfully evident from the way they've played along with FGN deceitful impression that taxes are a novelty in Nigerian society

We have all been paying HEAVY tax all along, even inclusive of the informal sectors. Abi what money do y'all think people like MC Oluomo, Sego and all the NURTW thugs use to flex??
Re: Guys They Have Added The Value Added Tax by Tallesty1(m): 4:41am On Feb 01
helinues:
That's why the government want to increase the tax base so that those benefits can be circulated. Na you people still don't want the government to be borrowing unnecessarily
Nigerians didn't start paying taxes today, why are you this slow?

We've been paying taxes forever.

So why are we being asked to pay MORE taxes when our oil revenue and taxes are mismanaged, corruption eats the budget, services are terrible, and loans vanish into thin air?

Why put new wine in an old wineskin?

If they waste oil money and borrowed funds, what makes you think they'll use tax money wisely?

Fix corruption first, then talk about new taxes.
Re: Guys They Have Added The Value Added Tax by tanigororo: 8:13am On Feb 01
It has always been their except that you don't notice
Re: Guys They Have Added The Value Added Tax by DatNiggaDaz: 9:09am On Feb 01
RichBoy247:
.
The benefits are very high electricity bill and gas bills which several citizens cannot afford therefore they are freezing badly, high transport fares and homelessness
grin

Datas and more online data

Re: Guys They Have Added The Value Added Tax by advanceDNA: 6:40am On Feb 02
grandstar:
The only benefit of these taxes for now is that it could keep the Naira stable for the next ten or even 20 years.

Another benefit may 24hour power supply. The money from these taxes will provide the fiscal power to finance massive increases in transmission capacity and also upgrade the electricity infrastructure.

So, there are benefits. Nigeria isn't Switzerland or the UK. Non-oil tax collection is barely 5% of GDP, while theirs is over 35%. It's like expecting someone who graduated uni 2 years ago working in a bank to fair as well as a man who has been working for 30years in the same bank. The guy may even be the branch manager.
Be deceiving nigerians…:its the same lies yall churned out during buhari’s time… yall reloaded the lies during fuel subsidy and currency subsidy removal…
Una don start again…

Will u kill all those embezzling money?? because i dont get how u think nigerian govt will efficiently use revenue for the benefit of Nigerians….

The last time nigerian benefited from their common wealth was the era of subsidy on fuel and currency.. and they somehow convinced yall that subsidy is a crime


..
Re: Guys They Have Added The Value Added Tax by sultanodudua: 6:44am On Feb 02
advanceDNA:
Be deceiving nigerians…:its the same lies yall churned out during buhari’s time… yall reloaded the lies during fuel subsidy and currency subsidy removal…
Una don start again…

Will u kill all those embezzling money?? because i dont get how u think nigerian govt will efficiently use revenue for the benefit of Nigerians….

The last time nigerian benefited from their common wealth was the era of subsidy on fuel and currency.. and they somehow convinced yall that subsidy is a crime


..
Re: Guys They Have Added The Value Added Tax by mrvitalis(m): 6:52am On Feb 02
Dejaadsman:
Guys government don do am again o chai, is not too long I sock garri with groundnut and now this.

Maybe the government want me to be eating sand
Sure when you finish paying all this tax
Collect 10k and vote

Or allow ragtags Rig your polling units you hear?

Keep the tax coming... I have always said tax is the only way to kill tribalism and rigging in Nigeria
Re: Guys They Have Added The Value Added Tax by grandstar(m): 9:35am On Feb 02
advanceDNA:
Be deceiving nigerians…:its the same lies yall churned out during buhari’s time… yall reloaded the lies during fuel subsidy and currency subsidy removal…
Una don start again…

Will u kill all those embezzling money?? because i dont get how u think nigerian govt will efficiently use revenue for the benefit of Nigerians….

The last time nigerian benefited from their common wealth was the era of subsidy on fuel and currency.. and they somehow convinced yall that subsidy is a crime


..
Being emotional won't change the fact that 1 + 1= 2.

It is quite disturbing that you even supported the forex subsidy.

The forex subsidy crippled the economy. I knew the economy was dead the minute Buhari started subsidy.

You need to understand this right away:

1. The central bank does not set exchange rates

2. Tinubu does not set exchange rates

3. The World Bank does not set exchange rates

4. The IMF does not set exchange rates.

What ultimately sets exchange rates is the Market- market forces.

Let me create an example.

In 2014, when the oil price was $100 per barrel, let's assume $100bn came in as forex inflows.

In 2015, the price of crude oil fell to $35 per barrel, $35bn flowed in.

Will the dollars in 2015 sell at the same price as in 2014 when $100bn? No. Buyers have to pay more. That's why the Naira will depreciate.

Is it the fault of the central bank that price of crude oil dropped to $35 per barrel. They are at the mercy of the market.

Let us another example.

Imagine the official exchange is N400, and the black market is N600, and the IMF urges a devaluation to close the rates. The standard differential between the official should never be more than 3%. The World Bank was even more generous at 5%

Now, would it be cruel for the IMF urging a devaluation to block the gap? Won't it be cruel? Won't a strong exchange rate not makes things better for the poor?

Now, Imagine your older brother in the US sent you $500 for your school fees, where would you change it? At the official rate of 400 or at the black market rate of N600? Be honest.

What if the money was sent to you for your sister's wedding coming up, where would you change it if you don't your family to swear for you? You would choose the black market rate.

That is the market reality. Because no one wants to change forex at the official rate, the supply at the official rate dries up. The government would be the sole supplier at such a rate.

That is why economist talk of market friendly reforms.

What do you think will happen when buyers can't find enough fx or even nothing at the official exchange, where would they turn to? Yes, the black market, putting more pressure on the exchange rare widening the gap some more.

What created such a massive gap in the first place,? The unrealistic price of forex at the official rate. The government could not supply enough fx at the official rate. Why would anyone want to pay 600 when the pfficial rate is 400? Has the subsidised fx helped or has it been punitive?

The pricing wasn't market friendly.

In 2023 when Tinubu assumed office, there was about $30bn in the gross foreign reserves. However, to know the real state of things, one should look at the net foreign reserves.

When Emefiele left office, there was only $3.99bn in net foreign reserves Net foreign reserves refers to the actual forex the central bank has access to, and not the gross figure. That was not rven enough to cover 1 months worth of imports. The standard is 4 months at the minimum.

Subsidised forex had emptied the foreign reserves. The forex scarcity was so bad that it chased GSK and a few other multinationals out of the country.

The oil subsidy was killing the economy. It was costing at least 2% of GDP to provide. It waa also riddled with fraud as all subsidies.

The best economist in the country such as Rewane, Pat Utomi, Lamido Sanusi, Okonjo Iweala, and Charles Utomi all supported it's removal.

If Buhari, the most populist president in Nigeria since 1999, a welfarist to the core, one who strongly believed there There was no subsidy, support it's removal speaks volumes. It was draining the economy.

There are better ways to assist the poor without ruining the economy. There are Conditional Cash Transfers which hand out cash to poor mothers in exchange for meeting certain matrix such as sending their kids or kids getting immunised.

Nigeria did introduce it but poor data collection and some corruption, makes it a challenge. It has worked wonders in Mexico and Brazil.
Re: Guys They Have Added The Value Added Tax by Lanretoye(m): 9:46am On Feb 02
helinues:
That's why the government want to increase the tax base so that those benefits can be circulated. Na you people still don't want the government to be borrowing unnecessarily
they deducted 0.75 irrespective of the transaction amount is enough to make it look fake and the other one that posted screenshot self if you look at the balance that he concealed you will see that it is almost negative balance…those are the people that come here crying foul daily
Re: Guys They Have Added The Value Added Tax by advanceDNA: 10:28am On Feb 02
grandstar:
Being emotional won't change the fact that 1 + 1= 2.

It is quite disturbing that you even supported the forex subsidy.
Any form of subsidy is welcomed…. Especialy in a country like nigeria whwre the govt robs its pple blind……
.subsidy is the only way govt can give back to its pple… any sane country that doesnt use part of its revenue to subsidize services or other essential goods is robbing its pple massively
U are being brainwahsed by the govt to make subsidy sound like a crime and an impossible action….

grandstar:
The forex subsidy crippled the economy. I knew the economy was dead the minute Buhari started subsidy.
Subsidy ddnt kill the economy, corruption did.
This is the truth govt will never admit..every nigerian govt comes in pretending his govt is clean…you all claimed buhari was fantastic, but now hes dead and gone u all are now claiming you saw what u ddnt yeara back…

Would u like to explain how one person called malami thats not even among the executives or officials that monetary allocations directly pass through , has hundreds of billions at his disposal….. and thats just one person used as cape goat… they are all doing same thing

grandstar:
You need to understand this right away:
lol… ur i too sabi forming sense is just explaining fake data and propaganda……..
Until u account for corruption in all your govt churned out lies….. u have not started explaining anything….

A broke country that needs money has lithium and gold deposit yet for decades, refused to harmonise the revenue into govt purse…..while few govt officials are mining natural resources into their pockets

Nigeria has never been broke…You dont know the half of it when it comes to stealing in this country…… I have seen numbers move with my two eyes, and its sad to put it lightly…..so when yall start blaming subsidy, i just laugh at yall..

again…sir. until u can account for the corruption in this country, all those numbers u are throwing around is just cheap propaganda used to brain wash pple like you to accept poor management of the country…..
Re: Guys They Have Added The Value Added Tax by grandstar(m): 11:06am On Feb 02
advanceDNA:
Any form of subsidy is welcomed…. Especialy in a country like nigeria whwre the govt robs its pple blind……
.subsidy is the only way govt can give back to its pple… any sane country that doesnt use part of its revenue to subsidize services or other essential goods is robbing its pple massively
U are being brainwahsed by the govt to make subsidy sound like a crime and an impossible action….

Subsidy ddnt kill the economy, corruption did.
This is the truth govt will never admit..every nigerian govt comes in pretending his govt is clean…you all claimed buhari was fantastic, but now hes dead and gone u all are now claiming you saw what u ddnt yeara back…

Would u like to explain how one person called malami thats not even among the executives or officials that monetary allocations directly pass through , has hundreds of billions at his disposal….. and thats just one person used as cape goat… they are all doing same thing

lol… ur i too sabi forming sense is just explaining fake data and propaganda……..
Until u account for corruption in all your govt churned out lies….. u have not started explaining anything….

A broke country that needs money has lithium and gold deposit yet for decades, refused to harmonise the revenue into govt purse…..while few govt officials are mining natural resources into their pockets

Nigeria has never been broke…You dont know the half of it when it comes to stealing in this country…… I have seen numbers move with my two eyes, and its sad to put it lightly…..so when yall start blaming subsidy, i just laugh at yall..

again…sir. until u can account for the corruption in this country, all those numbers u are throwing around is just cheap propaganda used to brain wash pple like you to accept poor management of the country…..
You're determined to wallow in economic illiteracy, thinking emotions will make pigs.

Your support of the oil and fx subsidies is incomprehensible.

The fx subsidies were the biggest source of corruption under Buhari. The well connected bought forex at the official rate and sold at the black market. My first cousin who is now in Port Harcourt said many there were bitter at Tinubu ending the fx ubsidy as they were making massive profits from it. That's roundtripping

Continue to wallow in your ignorance.

Adams Oshiomole who fought against fuel subsidy as NLC chairman, became a supporter for its removal when he realised it cost a lot of money to provide it.
Re: Guys They Have Added The Value Added Tax by WebMind: 11:32am On Feb 02
grandstar:
You're determined to wallow in economic illiteracy, thinking emotions will make pigs.

Your support of the oil and fx subsidies is incomprehensible.

The fx subsidies were the biggest source of corruption under Buhari. The well connected bought forex at the official rate and sold at the black market. My first cousin who is now in Port Harcourt said many there were bitter at Tinubu ending the fx ubsidy as they were making massive profits from it. That's roundtripping

Continue to wallow in your ignorance.

Adams Oshiomole who fought against fuel subsidy as NLC chairman, became a supporter for its removal when he realised it cost a lot of money to provide it.
You sound brainwashed.
How can any sane human condemn subsidy. There is an huge sense of entitlement that cripples subsidy quit alright but saying subsidy, is entirely bad is demonic.

If for example govt decides to make power so cheap for producers in Free trade zone or industrial estates, it will definitely help industry grow. I wonder where the idea that subsidy is entirely evil came from.
Re: Guys They Have Added The Value Added Tax by grandstar(m): 6:59pm On Feb 02
WebMind:
You sound brainwashed.
How can any sane human condemn subsidy. There is an huge sense of entitlement that cripples subsidy quit alright but saying subsidy, is entirely bad is demonic.

If for example govt decides to make power so cheap for producers in Free trade zone or industrial estates, it will definitely help industry grow. I wonder where the idea that subsidy is entirely evil came from.
This is extremely troubling

What is really so troubling is your response after all I wrote!!! You're looking at things like a toddler.

It is akin to a husband complaining that the money he earns is hardly going anywhere and all the wife has to say is, "I am tired of walking the children to school everyday. I prefer to use Uber."

You have no understanding whatsoever about what I wrote about.
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