₦airaland Forum

THOUGH I AGREE WITH DIS DECISION, BUT SOMETHING IN ME STILL BELIEVES ITS MORE OF A POLITICAL DECISION THAN DOING D RIGHT THING.

tete7000:
And who says the oil breakpoint is $140/barrel? What is the average price of oil over the last 40 years? Oil price above $80/barrel is an anomaly, something that happens once in a blue moon. What is the average budgetary benchmark in the last twenty years? This is what you get when you have people are not frugal enough to manage the resources within their means. They always hope for one big money to come from somewhere to spent. Buhari and his government are spendthrift masquerading as efficient managers of resources. They always hope oil price will rise to $140/barrel for them to squander.

no mind them

quentin06:
no you can understand why our govt does nothing to protect its citizens abroad and nothing to encourage their retun home.

The US, for instance, does more to protect Nigerians legally in that country than FG can ever do for its citizens in Nigeria. The Benue dead can attest to that from their mass graves.

That much I understand.

Those out there will not be encouraged to return home unless things actually get better.

Since all the money Naija has ever made has rather made things worse, somehow, even if they pull this nonsense off, it'll just be more money down the drain while things get even worse.

https://www.youtube.com/watch?v=xz2hKuBu4d0

Nigeria to turn up heat on tax evaders

Nigeria's government says it will be turning up the heat on tax evaders in its multi billion dollar property industry, as part of efforts to
increase its abysmal tax to GDP ratio from 6% to 15%. At the moment, there has been poor compliance with its Voluntary Assets and
Income Declaration Scheme. Under that program, the government promised to pardon tax evaders, if they made good on past claims.
It also aimed to improve tax collection in the long run

To be honest, the level of ignorance among Nigerians is appalling and exhibiting it on a forum like this is disheartening. How would read about a new executive order and the first thing is to start abusing the president and his advisers. Have you tried to do any form of research on income and how it is taxed. Instead of doing that people continue to display their level of ignorance, vacancy and dopiness. To be practical with you, an American with a property in Nigeria which earn him income must declare that income for taxation purposes. If he fails to then he can be sued for tax evasion. A brother lost his job in Citibank US and is facing charges because he fail to declare income from cars he exported to Nigeria for sales. I have another friend in Aussie who had to pay tax arrears after earning from abroad for a long time without declaring to the tax authorities.

Why do we think with our feet in this country. That's is why politicians can twerk us as they like because they understand the level of dumbness among us. I think it is high time we tried to always cross check issues, policies and ideas of others before forming an opinion.

A trait that is apparent among Nigerian youth is laziness and ignorance. I think we deserve the kind of leaders we get. Please do not quote this comment if you do not have anything reasonable to say.

I weep for the future of this country.

Ugosample:
no mind them

Those people came to power on the back of promise that they will divest country's earning away from oil. Almost four years down the line, all you keep hearing is how low oil price has made the government unable to deliver, what has happened to the promise to stop depending on oil? Can't people just ask these frauds and liars this basic question?

theoldpretender:
1.Fitch, the ratings agency, is the source of the break-even price. It varies by country.

2.Oil has been above $80 for a long time, and has fallen below 75 too, between 2008-10, and 2014-18..From 2010-14, oil was above $90.

3.Buhari govt is not doing well because low oil prices. They are not doing well because they keep us dependent on oil

Robust argument based on facts!

caybee007:
To be honest, the level of ignorance among Nigerians is appalling and exhibiting it on a forum like this is disheartening. How would read about a new executive order and the first thing is to start abusing the president and his advisers. Have you tried to do any form of research on income and how it is taxed. Instead of doing that people continue to display their level of ignorance, vacancy and dopiness. To be practical with you, an American with a property in Nigeria which earn him income must declare that income for taxation purposes. If he fails to then he can be sued for tax evasion. A brother lost his job in Citibank US and is facing charges because he fail to declare income from cars he exported to Nigeria for sales. I have another friend in Aussie who had to pay tax arrears after earning from abroad for a long time without declaring to the tax authorities.

Why do we think with our feet in this country. That's is why politicians can twerk us as they like because they understand the level of dumbness among us. I think it is high time we tried to always cross check issues, policies and ideas of others before forming an opinion.

A trait that is apparent among Nigerian youth is laziness and ignorance. I think we deserve the kind of leaders we get. Please do not quote this comment if you do not have anything reasonable to say.

I weep for the future of this country.

Monies made abroad and repatriated should be taxed. It's income, provenance irrespective. That's what happened to both dudes you mentioned.

Investing stolen funds abroad and repatriating the ROI is money laundering. No wahala. It should be combated by international policing and extradition treaties.

Someone who owns a business outside Nigeria will now pay taxes to Nigeria even if profits of said assets are banked outside and there is no traceable funds repatriation? That's bollocks!

The executive order has loopholes and trust Nigerians naa, they will exploit them.

Buhari now makes law for himself. Executive order is not a law. The legislature has the sole power to make laws in Nigeria in accordance with the Constitution

Tax evasions by multinational companies in Nigeria is so vast that tax analysts believes that if the money were paid, most of the country would be "developed" by now. But, lacking a sophisticated tax code, or the people qualified to enforce tax laws, Nigeria continue to lose money that could solve most of its financial problems

https://www.youtube.com/watch?v=-LBxvj09l0k

President Buhari signs Executive Order to boost anti-corruption laws