₦airaland Forum

princemillla:
Ghen Ghen.... Atiku manifesto.

I thought they rejected this in the first place

It has nothing to do with Atiku manifesto.

Atiku says he will reduce the tax percentage on business to attract capital from abroad. Tax havens like Monaco attract alot of millionaires and billionaires who want tax shield.

Here the FIRS is saying there are thousands of businesses that are not paying at all. So they are being included to pay. Tax inclusion.

anjigirl:
Only the poor and civil servant are paying taxes in Africa
The others are those that need the reciept to process their visa

I'm neither of the above and I pay more than N3m as tax every year.

post=75522235:
Good job.

Tax is a VERY VERY important thing in saner climes.

Dem no born u well make u no pay.
EVERYTHING is tax over there apart from food.

Gradually, we will get there!


The evil PARTY, full of thieves and CRIMINALS would have shared this trillions among themselves.
PDP in Nigeria again?!
GOD FORBID!

Lol, what was the 5.5tr used for.
Can you tell?

And someone is saying I should not vote Buhari. That person is mad!

They have no right to take money from someone account, no court injuction on that regards, in developed countries you see what your tax is doing, but here, your tax is looted and shared as national cake, under monthly allocation to states. Do you know how I got the 100 million, because it's a turn over not a domiciled money. I will sue FIRS IF THEY DARE IT ON MY ACCOUNT

Naughtysite:
If FIRS made N5.32trn in 2018, this aside NNPC income, how come FG is still borrowing?

I tire o

He wouldn't have involved police cuz I dot trust then. These rich people will shut them up with bribe. What have you guys done with the taxes already collected?

post=75522235:
Good job.

Tax is a VERY VERY important thing in saner climes.

Dem no born u well make u no pay.
EVERYTHING is tax over there apart from food.

Gradually, we will get there!


The evil PARTY, full of thieves and CRIMINALS would have shared this trillions among themselves.
PDP in Nigeria again?!
GOD FORBID!

And you think the APC people won't loot out of this tax money as well? Every Nigerian politician has the tendency to steal regardless of their party affiliations

dominique:
And you think the APC people won't loot out of this tax money as well? Every Nigerian politician has the tendency to steal regardless of their party affiliations

As long as you did not mention Buhari's name in your post, we are cool!

Cos Baba is the ONLY person we can vouch for as it is obvious in ALL of our posts.

We are not a card-carrying member of any political party.

That is why the party we are voting for as the president of Nigeria will be different from the party we will be voting for as the Governor of the state we reside in.

Nuff said.
God bless Nigeria.

We should pay more tax so Osinbajo can hire more dilapidated helicopter to buy more votes through market and trader moni??
Una no well.

Only those who eat directly from the yam (politicians and civil servants) should take the tax thing seriously.

If the government cannot give me quality road, electricity, water and good healthcare, they should not think about getting any tax from me. We will both charge each other to court.

My 'tax' will only go to the community I live in for fixing my road and drainage; my vigilantee group for staying awake all night; the aboki that clears my waste and the landlord that gave me a roof and water. That's how I pay my "tax".

Politicians should tax themselves and do whatever they want with the tax.

whether they will loot it or not, it shouldn't be your concern , it is your Duty to pay Tax after you do that first then you can talk

When you refused to go after the Bourdillion guy. Abeg FIRS my foot

Yoighaman:
I tire o

we have a sharing formula which requires the money be shared among Fg, states and local government. The 8trillion thereabout national budget presented to the senate is for Fg and Fg alone, say the Fg gets 55-65% of the 5.23trillon firs generated which is Tops 3.5 trillion, remove that from your total budget and you have a budget deficit of more than 50% of the overall budget hence the need for foreign loans.
NB: There are other sources of revenue besides firs but it still isn't enough

Alcacer47:
we have a sharing formula which requires the money be shared among Fg, states and local government. The 8trillion thereabout national budget presented to the senate is for Fg and Fg alone, say the Fg gets 55-65% of the 5.23trillon firs generated which is Tops 3.5 trillion, remove that from your total budget and you have a budget deficit of more than 50% of the overall budget hence the need for foreign loans.
NB: There are other sources of revenue besides firs but it still isn't enough

Nigeria 2018 Budget: N8.612 trillion

FIRS generated 5.23 trillon in 2018

Customs generated 1.1 trillion in 2018

Nigeria earned as much as N7.93 trillion ($26 billion) from oil exports between January and July 2018.

Just for 6 months they made such amount, in a year Nigeria will make more. Add the FIRS and Customs revenue, you will see that Nigeria have excess money for the budget and for other things, lets not talk about other government agencies that generates revenue. Oil revenue alone is more than enough to fund the budget.

Do you know the ugly side of it?

The government still borrowed to fund the budget.

Youngzedd:
[b]‘Nigeria is 6th largest crude income earner in OPEC,’ rakes in $26bn in 7 months ON AUGUST 24, 2018 6:05

Nigeria earned as much as N7.93 trillion ($26 billion) from oil exports between January and July this year, making it the sixth largest revenue earner among Organisation of Petroleum Exporting Countries, OPEC, member nations.[/b]ok...don't know how authentic this is but, let's say, I agree with u.

Read more at: https://www.vanguardngr.com/2018/08/nigeria-is-6th-largest-crude-income-earner-in-opec-rakes-in-26bn-in-7-months/


Just for 7 months they made such amount, in a year Nigeria will make more. Add the FIRS plus other revenue and you will see that Nigeria have excess money for the budget and for other things. Oil revenue alone is more than enough to fund the budget.

Dunno how authentic this is but let's say I agree with u, one thing u have to note is that, income is different from allocation cos not all of the said amount is bn used to fund the budget, some goes to our foreign reserve which is very obvious, Nigerian yearly expenditure on subsidy alone is 1.4 trillion, payment of foreign and local debts(debts before 2015 inclusive), payment of fuel marketers amongst others.At the end of the day you have to share the rest using the sharing formula I earlier stated. Meanwhile there are states that are on special payroll when it comes to fuel proceeds, their state governors are still complaining, some among the ones not willing to pay the 30k minimum wage, some even owing their workers. Federal government on the other hand never owes salaries and are building infrastructures to the best of their ability...All these shows how much FG's trying to balance the books, I'd rather u blame your thieving state governors

We pay taxes one way or the other, directly or indirectly... Buying something from a supermarket or eatery is one way of paying tax for example..

But most Nigerians Don't pay the popular income tax

Alcacer47:
Dunno how authentic this is but let's say I agree with u, one thing u have to note is that, income is different from allocation cos not all of the said amount is bn used to fund the budget, some goes to our foreign reserve which is very obvious, Nigerian yearly expenditure on subsidy alone is 1.4 trillion, payment of foreign and local debts(debts before 2015 inclusive), payment of fuel marketers amongst others.At the end of the day you have to share the rest using the sharing formula I earlier stated. Meanwhile there are states that are on special payroll when it comes to fuel proceeds, their state governors are still complaining, some among the ones not willing to pay the 30k minimum wage, some even owing their workers. Federal government on the other hand never owes salaries and are building infrastructures to the best of their ability...All these shows how much FG's trying to balance the books, I'd rather u blame your thieving state governors

5.23 + 1.1 + 7.93 = 14.26 trillion.

Lets assume Nigeria made 7 trillion between August - December. That will now give us 14.26 + 7 = 21.26 trillion.

52% of 21.26 trillion is 11.0552 trillion.

Is 11.0552 trillion not enough to fund the budget?

There will be an excess of 2.4432 trillion.


Don't forget we haven't added revenues from other sources.

Alcacer47:
we have a sharing formula which requires the money be shared among Fg, states and local government. The 8trillion thereabout national budget presented to the senate is for Fg and Fg alone, say the Fg gets 55-65% of the 5.23trillon firs generated which is Tops 3.5 trillion, remove that from your total budget and you have a budget deficit of more than 50% of the overall budget hence the need for foreign loans.
NB: There are other sources of revenue besides firs but it still isn't enough

Ok, noted. Thanks for sharing.

85 millionaire tax debtor..

How is that possible in a country of 200m ?

Youngzedd:
5.23 + 1.1 + 7.93 = 14.26 trillion.

Lets assume Nigeria made 7 trillion between August - December. That will now give us 14.26 + 7 = 21.26 trillion.

52% of 21.26 trillion is 11.0552 trillion.

Is 11.0552 trillion not enough to fund the budget?

There will be an excess of 2.4432 trillion.


Don't forget we haven't added revenues from other sources.

And have you ever considered how much FG pay ( salary) monthly for FG workers?

Youngzedd:
5.23 + 1.1 + 7.93 = 14.26 trillion.

Lets assume Nigeria made 7 trillion between August - December. That will now give us 14.26 + 7 = 21.26 trillion.

52% of 21.26 trillion is 11.0552 trillion.

Is 11.0552 trillion not enough to fund the budget?

There will be an excess of 2.4432 trillion.


Don't forget we haven't added revenues from other sources.

Dont assume anything. Work with facts.. The total revenue from FIRS, Customs, NNPC and other Govt revenues will be shared by the LG, SG and FG according to the revenue sharing formula. It appears the only figure you know is the FG share.

This a tax regime not oil. Government is ready to survive on tax rather than oil money

argon500:
And have you ever considered how much FG pay ( salary) monthly for FG workers?

That's part of the budget.

deji17:
Dont assume anything. Work with facts.. The total revenue from FIRS, Customs, NNPC and other Govt revenues will be shared by the LG, SG and FG according to the revenue sharing formula. It appears the only figure you know is the FG share.

"Total revenue shared"

Are you kidding me?

Oya naa tell us where the money for budget fall from? .

Youngzedd:
"Total revenue shared"

Are you kidding me?

Oya naa tell us where the money for budget fall from? .

I owe you no explanation. Believe whatever you want to believe. If you seek knowledge, do your own research or ask politely. I have no time to waste on a fruitless argument.