xProfx:
The issue of taxation for companies with nationwide branches should be revisited.
All of these banks pay federal taxes, they're still expected to pay state taxes, making it double taxation. I am not a tax expert, but that doesn't seem fair... These are the things that drive the cost of transaction upwards and customers won't understand.

Then the greedy federal gov't should share the one they get with the states!

Why should the state gov'ts provide a enabling environment for business in their states only for the useless federal gov't, that has contributed nada, now come and elbow them out of the way and greedily collect all the tax due!

This Nigeria with tax eehh....common dyna wey I dey drive you go buy paper full motor...federal emblem, state emblem, local government emblem,nurtw emblem, advertising emblem etcccc....on top of that,you go come dey pay 100 naira for ticket everyday...
Wahala no be to buy ticket and emblem.... To say I dey see wetin dem dey carry these money do , I no for get wahala....road no good, security no dey , police go still worry you for road add
This country na real Bleep up

[

xProfx:
The issue of taxation for companies with nationwide branches should be revisited.
All of these banks pay federal taxes, they're still expected to pay state taxes, making it double taxation. I am not a tax expert, but that doesn't seem fair... These are the things that drive the cost of transaction upwards and customers won't understand.

That is the major issue why companies don't last long in Nigeria. Double taxation.

xProfx:
The issue of taxation for companies with nationwide branches should be revisited.
All of these banks pay federal taxes, they're still expected to pay state taxes, making it double taxation. I am not a tax expert, but that doesn't seem fair... These are the things that drive the cost of transaction upwards and customers won't understand.

Nigeria has a long way to go. Fining corporations up and down, unnecessary taxation, other bottlenecks, how do they expect the company to grow? Clueless cows

nsivic2001:
This Nigeria with tax eehh....common dyna wey I dey drive you go buy paper full motor...federal emblem, state emblem, local government emblem,nurtw emblem, advertising emblem etcccc....on top of that,you go come dey pay 100 naira for ticket everyday...
Wahala no be to buy ticket and emblem.... To say I dey see wetin dem dey carry these money do , I no for get wahala....road no good, security no dey , police go still worry you for road add
This country na real Bleep up

Hmmmm.... terrible Country

MyGeneration:

It happened in the SS how does SE come into it?

Do u know any SE state that harassed any bank?

Ikpeazu and Abia state whenever he is broke and wants to prove that he is working to generate internal revenue.

SaintLucia:
Ikpeazu and Abia state whenever he is broke and wants to prove that he is working to generate internal revenue.

Wow nice. Ok gimme proof ler it not end in ur imagination.

SE is the most peaceful region in Nigeria and the best place to do business

MyGeneration:

Wow nice. Ok gimme proof ler it not end in ur imagination.

SE is the most peaceful region in Nigeria and the best place to do business

Ikpeazu and Abia state whenever he is broke and wants to prove that he is working to generate internal revenue.

CBN is full of stupid crooks

SaintLucia:
Ikpeazu and Abia state whenever he is broke and wants to prove that he is working to generate internal revenue.

So what's the business of what y said and gt bank and akwa ibom or SS?

SaintLucia:
Banks doesn't pay tax in Lagos. Don't say what u don't know. Banks only pay tax to the federal government. Only local government collect money from banks, money like parking space, environmental/fumigation certificate, business permit within the local government which are even negotiable. Only in south south and southeast u see governors harassing banks

Oga, you are the one saying what you don't know. Pocohontas too, saying what she knows not. Banks pay PAYE of their staff(deducted from staff salaries) to the states they are resident in. Sometimes, they also pay WHT on rent(esp. when the building they are occupying is rented and not theirs) and a few others. This over 180milli must be a result of back duty audit..like an accumulation of tax liabilities over the years.

Please be informed. Thank you.

OZOnNengiTheory:
Oga, you are the one saying what you don't know. Pocohontas too, saying what she knows not. Banks pay PAYE of their staff(deducted from staff salaries) to the states they are resident in. Sometimes, they also pay WHT on rent(esp. when the building they are occupying is rented and not theirs) and a few others. This over 180milli must be a result of back duty audit..like an accumulation of tax liabilities over the years.

Please be informed. Thank you.

Banks doesn't pay tax in Lagos. Don't say what u don't know. Banks only pay tax to the federal government. Only local government collect money from banks, money like parking space, environmental/fumigation certificate, business permit within the local government which are even negotiable. Only in south south and southeast u see governors harassing banks

MyGeneration:

So what's the business of what y said and gt bank and akwa ibom or SS?

Ikpeazu and Abia state whenever he is broke and wants to prove that he is working to generate internal revenue.

SaintLucia:
Banks doesn't pay tax in Lagos. Don't say what u don't know. Banks only pay tax to the federal government. Only local government collect money from banks, money like parking space, environmental/fumigation certificate, business permit within the local government which are even negotiable. Only in south south and southeast u see governors harassing banks

Okay

pocohantas:
State government in the SE/SS loves to stress GTBank and I don’t know why. If not for nationwide presence, a lot of branches in such locations would have been shutdown.

They wonder why lots of organizations site their HQs in Lagos? Well, LASG though troublesome have a way of making things seamless.



One of the highest earning CEOs in Nigeria can afford 120m Mercedes. He doesn’t have to sell it to fund the organization’s debt.

Entity concept: Segun Agbaje is different from GTBank. The business is different from the owner(he isn’t even the owner in this case).

You are wrong,same GTBANK branches all over nasarawa state was shut for at least a week,
I believe the problem is a tax bruhaha and Labour laws,it needs to be adjusted in quick time
*Almost all the staffs of GTBANK even securities are Yoruba,Igbo and ibibio even in kano,nasarawa and Niger state. is the same
*Zenithbank@UYO is populated by Igbo's
***Labour laws needs to be made to ensure that at least 50% staff of these financial are qualified indegenes of states they are operating

xProfx:
The issue of taxation for companies with nationwide branches should be revisited.
All of these banks pay federal taxes, they're still expected to pay state taxes, making it double taxation. I am not a tax expert, but that doesn't seem fair... These are the things that drive the cost of transaction upwards and customers won't understand.

There is nothing such as double taxation, branches pay taxes to state govt while headquarter pay directly to the FG.
These branches across state have financial statement that depict Revenue, the fact that they retain certain % of the revenue makes them liable to taxation from the state govt.
Branches pay only to state while head offices pay to the FG, so there is no issue of double taxation. its only fair the state generate funds to provide & maintain infrastructures which aids business operations within the state.

jornwhite:



There is nothing such as double taxation, branches pay taxes to state govt while headquarter pay directly to the FG.
These branches across state have financial statement that depict Revenue, the fact that they retain certain % of the revenue makes them liable to taxation from the state govt.
Branches pay only to state while head offices pay to the FG, so there is no issue of double taxation. its only fair the state generate funds to provide & maintain infrastructures which aids business operations within the state.

Ok

A lot of people here no jack on tax administration in Nigeria. There is no way GTB will be owing such amount. The only tax state govt can enforce is Personal Income Tax (PAYE) and probably development levy as applicable in Lagos state. How many staff did GTB has in that state that warranted #185million liability? Most of the state revenue service just apply tax liability to company base on their judgement which is not right.

hardbody:


Help me teach them. That figure mentioned doesn't even scratch his Bonus as at last financial year ended. And most people don't understand the entity concept in corporate law.

Oga chill out abeg.
Even the 'entity concept' doesn't apply to Mr Agbaje.

He's just a CEO.

jornwhite:



There is nothing such as double taxation, branches pay taxes to state govt while headquarter pay directly to the FG.
These branches across state have financial statement that depict Revenue, the fact that they retain certain % of the revenue makes them liable to taxation from the state govt.
Branches pay only to state while head offices pay to the FG, so there is no issue of double taxation. its only fair the state generate funds to provide & maintain infrastructures which aids business operations within the state.

Which law did you get this from? Stop displaying your ignorance on something you have little knowledge of.

Go and read more on tax administration in Nigeria.

labiola:


Which law did you get this from? Stop displaying your ignorance on something you have little knowledge of.

Go and read more on tax administration in Nigeria.

Ok, will do that in my spare time, however what is your stand cos you said nothing

SIONKPO1:

You are wrong,same GTBANK branches all over nasarawa state was shut for at least a week,
I believe the problem is a tax bruhaha and Labour laws,it needs to be adjusted in quick time
*Almost all the staffs of GTBANK even securities are Yoruba,Igbo and ibibio even in kano,nasarawa and Niger state. is the same
*Zenithbank@UYO is populated by Igbo's
***Labour laws needs to be made to ensure that at least 50% staff of these financial are qualified indegenes of states they are operating

I am not wrong, I very well know what I am saying.

If you meet the requirements and get the job, fine- but you don’t tell a private organization to give 50% to indigenes. For what exactly? Na you build the bank? Abi are they tapping your natural resources like oil companies do?

You must be a Northerner to come up with this idea. You just have to be.

pocohantas:


I am not wrong, I very well know what I am saying.

If you meet the requirements and get the job, fine- but you don’t tell a private organization to give 50% to indigenes. For what exactly? Na you build the bank? Abi are they tapping your natural resources like oil companies do?

You must be a Northerner to come up with this idea. You just have to be.

I'm a core southerner,The financial institutions allows ethnicity to thrive a lot,
Example
No Nasarawa state indegenes in GTBANK,ecobank,zenith bank and access at their mararaba branch,karu nasarawa state,do you mean that they don't apply or they are not qualified to work as cashier
Our labour laws needs. To be revisited

SIONKPO1:

I'm a core southerner,The financial institutions allows ethnicity to thrive a lot,
Example
No Nasarawa state indegenes in GTBANK,ecobank,zenith bank and access at their mararaba branch,karu nasarawa state,do you mean that they don't apply or they are not qualified to work as cashier
Our labour laws needs. To be revisited

They should try and pass their interviews and training school. Banks are even looking for northerners to post to their individual states, because southerners do not like going there. Where we see them? Many of them would rather work in government parastatals. It is not the bank that will go look for them. They are not the only ones in Nigeria.

xProfx:
The issue of taxation for companies with nationwide branches should be revisited.
All of these banks pay federal taxes, they're still expected to pay state taxes, making it double taxation. I am not a tax expert, but that doesn't seem fair... These are the things that drive the cost of transaction upwards and customers won't understand.

In other climes people county, state and national taxes. The problem with Nigeria is that the so called federal government has stolen local resources and is still taking most of the taxes states or LGAs should be taking.

Lagos taxes the banks and their work force more than Akwa Ibom or any other state does.

They are not overcharging clients because of taxes, they are doing that because they failed in their core responsibility as financial institutions.

pocohantas:


They should try and pass their interviews and training school. Banks are even looking for northerners to post to their individual states, because southerners do not like going there. Where we see them? Many of them would rather work in government parastatals. It is not the bank that will go look for them. They are not the only ones in Nigeria.

zenithbank is populated by Igbo's and GTBANK by Yoruba's both at Uyo,so do you mean that akwa ibomites are not applying for banking jobs?

Traviscottt:


Oga chill out abeg.
Even the 'entity concept' doesn't apply to Mr Agbaje.

He's just a CEO.

I am struggling to understand your point, really.

Gtbank will soon follow the likes of intercontinental bank.

I even heard they wrote court that they want to discontinue the plc rather limited.

They just got customers, but not making profit.

Your money in that bank is no longer safe.

silibaba:
Gtbank will soon follow the likes of intercontinental bank.

I even heard they wrote court that they want to discontinue the plc rather limited.

They just got customers, but not making profit.

Your money in that bank is no longer safe.

Hmmmm. a little google search will help you to know that GTB is one of the strongest Bank in Nigeria. For your information, they posted over 109b profit before Tax. So your assertion is wrong, always get your facts right.

pocohantas:
State government in the SE/SS loves to stress GTBank and I don’t know why. If not for nationwide presence, a lot of branches in such locations would have been shutdown.

They wonder why lots of organizations site their HQs in Lagos? Well, LASG though troublesome have a way of making things seamless.



One of the highest earning CEOs in Nigeria can afford 120m Mercedes. He doesn’t have to sell it to fund the organization’s debt.

Entity concept: Segun Agbaje is different from GTBank. The business is different from the owner(he isn’t even the owner in this case).

Pocohantas is back. I didn't follow you for nothing. Thanks for the enlightenment.