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Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche (1370 Views)

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Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 5:22pm On Sep 13, 2019
Just few hours ago FEC approved 7.2% as Nigeria new VAT rate. Let's briefly analyse the rate of VAT in the world.

Hungary has the highest VAT rate in the world with 27%, follow by Croatia, Denmark, Sweeden and Norway with 25% VAT rates each.

On the other hand, Timor-Leste has the Lowest VAT rate in the world with 2.5% on imported goods only. Follow by UAE, Saudi Arabia and Taiwan with 5% VAT rates each.

I discovered Nigeria has the lowest VAT rate in Africa at 7.2%.


Source: http://taxsummaries.pwc.com/ID/Value-added-tax-(VAT)-rates

Twitter: @BarnabasUche01

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by Damian077: 5:28pm On Sep 13, 2019
We are the lowest in Africa and 2nd lowest in the world. Congratulations to our pro people government.

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 5:30pm On Sep 13, 2019
Damian077:
We are the lowest in Africa and 2nd lowest in the world. Congratulations to our pro people government.
We are not the second lowest in the world sir. Read the article very well.
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 5:47pm On Sep 13, 2019
Lalasticlala
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by oluGodson: 5:59pm On Sep 13, 2019
Don't be one-sided.
Kindly juxtapose with the minimum wage in those countries to make your report balanced.
Thank you

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by Tyche(m): 6:05pm On Sep 13, 2019
Post the GDP and the minimum wage in these countries.

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by Sunofgod(m): 6:07pm On Sep 13, 2019
Govt propaganda!

What value do they add to claim tax?

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by simonlee(m): 6:11pm On Sep 13, 2019
Tyche:
Post the GDP and the minimum wage in these countries.
leave does zombies!

them no dey tell person... them go learn their own lesson! grin

Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by omenka(m): 6:11pm On Sep 13, 2019
Damian077:
We are the lowest in Africa and 2nd lowest in the world. Congratulations to our pro people government.
All these things cant be taken at mere face value, the same way we make the mistake of saying Nigeria sells gasoline at very cheap.rate compared to western countries.

What we should do is place these costs aside by side the purchasing power of the citizens using indices such as minimum wage, rate of employment and per capita income. That way you'd get the real image of the COST of these things.

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 6:12pm On Sep 13, 2019
oluGodson:
Don't be one-sided.
Kindly juxtapose with the minimum wage in those countries to make your report balanced.
Thank you
Okay. Other Africa countries minimum wages may be higher now because of our economy by the time you covert it to doller it looses value, yet their VAT rates are high. How are we going to run the Government when the economy is Bad? O VAT was still 5% when our economy was good. Rated as the Lowest in the world as at 2013.

Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by mgbadike81: 6:16pm On Sep 13, 2019
Practically all the countries with high vat rates are socialist countries with free and compulsory education upto phd level, free medical care, subsidized housing for most citizens etc. Comparing Nigeria to Sweden is an act of ignorant stupidity.

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 6:23pm On Sep 13, 2019
mgbadike81:
Practically all the countries with high vat rates are socialist countries with free and compulsory education upto phd level, free medical care, subsidized housing for most citizens etc. Comparing Nigeria to Sweden is an act of ignorant stupidity.
The same with all Africa countries?
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by infinitethrust: 6:40pm On Sep 13, 2019
Please attach pictures of roads health care electricity too.
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by Nobody: 6:52pm On Sep 13, 2019
Dehm people are actually stupid and clueless what kinda analysis is this...what's the minimum wage of those countries, what's the dollar rate to with theirs and urs?

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 7:14pm On Sep 13, 2019
ezenwajosh:
Dehm people are actually stupid and clueless what kinda analysis is this...what's the minimum wage of those countries, what's the dollar rate to with theirs and urs?
as at 2013 our minimum wages was higher than some African countries yet their VAT were high while ours was the Lowest in the world. Reason it na.
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by Sonoyom(m): 8:37pm On Sep 13, 2019
The problem in Nigeria is the stupidity of Nigerians, minimum wage, GDP, employment rate should be considered before VAT rate,

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by meccuno: 10:12pm On Sep 13, 2019
mgbadike81:
Practically all the countries with high vat rates are socialist countries with free and compulsory education upto phd level, free medical care, subsidized housing for most citizens etc. Comparing Nigeria to Sweden is an act of ignorant stupidity.
grin oh lawd!
Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by KenOne: 10:21pm On Sep 13, 2019
ezenwajosh:
Dehm people are actually stupid and clueless what kinda analysis is this...what's the minimum wage of those countries, what's the dollar rate to with theirs and urs?

But there are African countries on that list, like Chad, Congo, Zambia, Senegal, Kenya, Zimbabwe, Ghana etc.
We might not like the proposed increase but the truth is that in Africa Nigeria VAT is the lowest and not all commodities are VAT in Nigeria compare to South Africa where petty things you pay VAT.

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Re: Value-added Tax (VAT) Rates In The World (pic Attached) By B.uche by wofayouths(m): 9:06am On Sep 14, 2019
KenOne:


But there are African countries on that list, like Chad, Congo, Zambia, Senegal, Kenya, Zimbabwe, Ghana etc.
We might not like the proposed increase but the truth is that in Africa Nigeria VAT is the lowest and not all commodities are VAT in Nigeria compare to South Africa where petty things you pay VAT.
Yes!

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