Nbote:


Here's d legislation U quoted...

[b]
On December 11, the Government published draft legislation outlining new taxes and charges which will have to be paid by offshore companies which own property in the UK. Although a consultation document on the topic was issued in May, there have been some significant changes since then – and property owners should start to plan accordingly before the laws come into force.
The main features of the proposed legislation will affect properties which are valued at more than £2 million and which are owned by “non-natural persons”. (This is a reference to foreign companies, partnerships, funds and the like, not to persons with strange personal habits.)
Previously many foreign buyers of UK property have chosen to register their properties in the name of an offshore company in order to eradicate UK inheritance tax (IHT), which would otherwise be charged at 40 per cent on the whole value of the property, after allowances, upon the death of the owner. Offshore company ownership also facilitated the avoidance of stamp duty (SDLT), as any subsequent sale of the property could be affected by a transfer of the shares in the company, leaving the title to the property in the UK unaltered.
But all that is about to change. Offshore companies which own property worth over £2 million will now be faced with:
1. An annual charge of a minimum of £15,000 and a maximum of £140,000 depending on value. The new tax is called Annual Residential Property Tax (ARPT).
[/b]

Dis legislation isn't taxing UK citizens for properties abroad.. It is taxing OFFSHORE COMPANIES who own properties IN THE UK!!!! Na so English hard U?

CyberWolf:
shut the Bleep up see your mouth like build road You think you’re talking to a fool? The one they’ve been collecting from us in mutiples, what have they done with it?

CyberWolf:
shut the Bleep up see your mouth like build road You think you’re talking to a fool? The one they’ve been collecting from us in mutiples, what have they done with it?

olajide8:
Nice one- america does it Europe they do it- the fight against corruption should have started with this move

aribs:
The amount of confident ignorance that gets put out on this forum is mind-boggling to say the least. the simplest research would have given context to this post but no... a government comes to enact policy that is sensible and people reply from a point of all emotion and no factual basis and with no empirical research done. Yet when the country is not developed the same people are wondering why and cursing out the leadership. Nigerians really deserve the leadership they have.

jabolo:
Is the lack of comprehension displayed here a sign of the general malaise in our educational system, or political fingers in ears singing 'nanananana'?

If you are a Nigerian taxpayer, you are obliged to pay taxes on your worldwide income. That is a primary responsibility. If you've paid tax already on that income, you have bilateral or multilateral double taxation arrangements to provide set offs. Perfectly normal everywhere else except many African countries have not got round to it yet.

How the hell do you grow non-oil revenues when leakages as these are not plugged?

Adeosun's legacy is the army of smart young and motivated Nigerians prowling the corridors of the Ministry of Finance so its not Buhari cooking up some dastardly plot against political opponents.

If you prefer that comforting illusion, and get your daily anger vent from such regardless, ok, I see, carry on.

Jaideyone:
mumu talk. keep making a fool of yourself.

the law is targeted at getting money from Nigerians that are rich so the money can be used to repair roads and build public hospitals and schools that the poor and average people like you and I will benefit from more but you are still complaining.

your education is a waste!!!

veesion:

YOu ARE JUST A CONFUSED FELLOW,that's all

Jaideyone:
illiterate read through the others.


if you own properties that are generating income abroad you pay taxes to the country too!!! I have about 3links!!!

Jaideyone:
the law is targeted at getting money from Nigerians that are rich so the money can be used to repair roads and build public hospitals and schools that the poor and average people like you and I will benefit from more.

the law will only affect 0.1% of Nigerians!!! but the great majority will benefit from the funds it will generate for the government!!!


educate yourself

Jaideyone:
illiterate read through the others.


if you own properties that are generating income abroad you pay taxes to the country too!!! I have about 3links!!!

Jaideyone:
you are the complete illiterate!!!


I repeat, the law is meant to take money from the rich and better the lives of the poor. I bet you don't even own a pen abroad and you are crying.

something is wrong with your brain

FarahAideed:


Shut up and it had to come as an executive order instead of Legislation? You don't know what you are saying ? Where are the roads he built with over 13 trillion Naira he has borrowed so far .... well we are sending him packing first quarter next year and all you can follow him to Daura

Nbote:


Lolzzz ... What happened to dis particular link? U have realised ur folly or U also need me to help U breakdown d other ones in a language u can easily understand abi

lexy2014:
y has EFCC not brought charges against atiku 4 stealing $40m from nigeria?

SternProphet:
Buhari will drive looters out of this country. I think he is already unleashing his second term arsenal on the corrupt elite. He will do what he will do. Let poor men children be praising rich children's fathers on Nairaland. Buhari will do what GOD has appointed him to do.

I expect more dastardly weapons before December. IBB, we want to see at least $100m tax from you for your loot in swiss banks. Yes Buhari now knows all those who have billions abroad and you heard that he now knows... that was why you guys rigged the PDP primaries to produce Atiku.whom you want to use to fight Buhari.

jchioma:
Wait o! Na who dey advice this Buhari sef? Too many missteps and misplaced policies shows a lack of communication with wisdom.

FarahAideed:


You clearly don't know what you are saying

CyberWolf:
shut up idiot..

thunderfirebuha:


Yorubas as ussual will support this idiot.

Why don't he tax cows and goats.

This man is a thief who only came to steal and kill.

iammo:

Just listen to yourself? Do you know how much hardwork blood and sweat it is for 80% of Nigerians abroad to get to mortgage an asset. And pay annual British property tax? Or perhaps you think money falls from trees abroad? Now they should add 35% of the value of the assets to pay to a useless government back home... So ridiculous how people think, or don't think

iammo:

Just listen to yourself? Do you know how much hardwork blood and sweat it is for 80% of Nigerians abroad to get to mortgage an asset. And pay annual British property tax? Or perhaps you think money falls from trees abroad? Now they should add 35% of the value of the assets to pay to a useless government back home... So ridiculous how people think, or don't think

Jaideyone:
let them give a fraction back to their country!!!

jabolo:
Is the lack of comprehension displayed here a sign of the general malaise in our educational system, or political fingers in ears singing 'nanananana'?

If you are a Nigerian taxpayer, you are obliged to pay taxes on your worldwide income. That is a primary responsibility. If you've paid tax already on that income, you have bilateral or multilateral double taxation arrangements to provide set offs. Perfectly normal everywhere else except many African countries have not got round to it yet.

How the hell do you grow non-oil revenues when leakages as these are not plugged?

Adeosun's legacy is the army of smart young and motivated Nigerians prowling the corridors of the Ministry of Finance so its not Buhari cooking up some dastardly plot against political opponents.

If you prefer that comforting illusion, and get your daily anger vent from such regardless, ok, I see, carry on.

iammo:


35% in exchange for what? A sick presidents medical tourism or Yusuf's racing bike fund

Jaideyone:
you are a complete illiterate!!!

it's common sense that you tax the super rich (0.01%) and use the money to better the lives of the poor (99.99%)

get yourself educated


https://www.nytimes.com/2014/05/20/upshot/to-lift-the-poor-you-cant-avoid-taxing-the-rich.html

DonFreshmoney:
How clueless can a president be U can't collect tax on an offshore property u Dundee..

Make I join Atiku and tinubu laugh this lifeless individual