₦airaland Forum

As with many things in life, it’s not that simple. Illicit Financial Flowss come in many forms; a significant amount of them are legal but immoral, hence the term “illicit”, not “illegal”. It might seem like splitting hairs, but the distinction is essential. It means even if regulators were aware of a good chunk of these practices, they wouldn’t have a basis to stop them. Tax avoidance is made different from tax evasion in this way. The former is immoral, the latter illegal. Other components are trade misinvoicing (over or under-invoicing imports/exports to conceal funds) and transfer mispricing (distorting intra-firm transaction prices to shift profits).

More: https://www.naijiant.com/guestcolumn/nigeria-losing-money-illicit-financial-flows/

Naijiant:
More: https://www.naijiant.com/guestcolumn/nigeria-losing-money-illicit-financial-flows/

I'm looking to get my tax money back. I've paid more than 8 million in corporate tax. Yet i bought my electric pole, graded my road, use my generator. No universal healthcare, no emergency services. I was burgled and I had pay police money to make entry. Paid another 10k for them to even question one person. What sort of useless tax I'm I paying? The one they would launder and splash me water on the road with sirens ? Ordinary citizens are just slaves to the government.