₦airaland Forum

Nigerians make me laugh a lot.Ghana's VAT rate is 15%. see http://www.gra.gov.gh/index.php/tax-information/value-added-tax

Meanwhile we pay 5% VAT,the lowest in West Africa,still yet a lot of Companies do not remit anything to government.

Ghana's Telecom Tax rate is 6%.see http://www.gra.gov.gh/docs/info/cst_act.pdf

But Nigerians, no telecom tax because they are waiting for 2.2million barrel of oil to feed.God please crash oil to $5 so that Nigerians would wake up from their slumber.Tax is the only sustainable way to grow your revenue not Oil.

Siluko road rehabilitation
Queen Ede storm water project
Improvement of IGR collection in Edo State
De-cabalization of Edo politics

omofunaab:
One thing most of us must agree on is that most of our judges are corrupt.

The NJC has only been recommending judges for retirement and not prosecution.

Bribe taking is a criminal offence

I believe the judiciary arm is well protected what some of you will call independence of the judiciary and that's why most of them have been abusing their powers. They think they are untouchable.

The internal cleansing mechanism in the judiciary is not even effective at all because it hasn't reduced the number of corrupt judges.

Going by the DSS statement they said they carried out investigations on these judges after months of surveillance. And they submitted their reports to the NJC, the NJC in return shielded their colleagues and only recommended two for retirement and prosecution.

The only thing bringing divergence of opinions is the way and manner these judges were arrested..

Some are saying they should invited first but they forgot the constitution has empowered the DSS to carry raids on houses with a valid search warrant.
If they don't carry out raids how will they recover evidence? Won't the suspects bury evidence if invited?

Another angle is that Dss can't prosecute corruption cases but they forgot that the DSS is empowered to prosecute economic crime cases


The real question bothering my mind is if bribe taking is an economic crime?


But my brothers this our judiciary needs thorough cleansing walahi.. There are way too much corrupt judges in the system

economic crime covers a wide range of offences, from financial crimes committed by banks, tax evasion, illicit capital heavens, money laundering, crimes committed by public officials (like bribery, embezzlement, traffic of influences, etc.) among many others.

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In addition,we also urgently need an office space in Accra.

Contact me on osemosa@gmail.com

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I think it is time to end this madness.Let the military do what has to be done.Let all Nigerians prepare for the coming economic implication of an outright declaration of WAR on this madness.

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I need answers to the following:

1.Were do I get improved Cucumber,green pepper and tomatoes seeds in Benin city and what is the cost implication

2.What type of fertiliser should I use,and were can I get it in Benin city.

3.What type of pesticide can I utilize ETC.

my email is osemosa@gmail.com

He is a private individual although some of the Companies my have been used for money laundering of politically exposed people.

But this information is very important to the Federal Inland Revenue service to determine if the cash originated from Nigeria and have [aid tax on such.

ifyalways:
I'm calling the attention of FIRS to the gross incompetence and non-nonchalant attitude of the staff at AJAH MSTO office, Oniru !!!!

It takes them forever to issue VAT and Income tax receipts. The old man (One Mr Williams) they put in that office cannot even operate a PC. My staff have been going there on weekly bases for the past 2 months to retrieve January VAT and Income tax receipts to no avail. I went myself and met 4 other people screaming there cos of same thing.

FIRS please look into AJAH MSTO office.

Send your complaints and query to complaints@firs.gov.ng and copy lagosislandregion@firs.gov.ng

funkyibodude:
I will call PMB a useless president for one thing, if Amaechi still remains a minister after this Rivers elections...

Your stupidity has no finite limit.idiota

Charlieubochi:
I tell you I've never had a greater desire to beat or even kill someone like I felt after the idiot slapped me. I just didn't want to mess up the case and spoil my chances of seeing his ugly Arabic self in court. I know they are all illegal immigrants with fake papers but I don't know how to go about reporting the issue and if reporting it would help me in any way because they have people in Immigrations and tax office that help them defraud Nigeria.

You have started well with the Law suit.But as you rightly said you need to fight them also through the tax office and Immigration.

You need to send a Letter to the Chairman of the Federal Inland Revenue Service,Mr.Tunde Fowler detailing their collusion with the tax office and how the Company have been evading taxes in Nigeria.You should try to be specific and with details.documents also should be provided if you can.

In addition,write to the Minister of Interior and copy the Comptroller of Immigration at Abuja and detail all their violation of Nigerian Immigration Laws-do they have expatriate quota return,do they file monthly returns to immigration.seat down and do a proper work.This guys need to be taught lessons.their excesses in Nigeria is mind buggling,They don't pay taxes and they illegally enter Nigeria to wok

I hope Lagos State Internal Revenue Service('LSIRS') or the Federal Inland Revenue Service('FIRS') are documenting her rant on instagram.They would soon come and ask her evidence of tax payment for this money been bandied around.

chosen04:
With respect to the recent Budget presentation by the Nigerian Junta Head, Gen. Mohammed Buhari for the 2016 fiscal year, the Coodinator of All Coordinators (COC) and the Spokesman of Indigenous People Of Biafra (IPOB), went on his facebook page to deconstruct Buhari's lies.

Excerpt: . . DECONSTRUCTING BUHARI'S 2016 BUDGET OF LIES & DECEIT----Part-1

According to Retired Major General Muhammadu Buhari:
"2016: Budget Assumptions;
After reviewing the trends in the global oil industry, we have set a benchmark price of $38 per barrel and a production estimate of 2.2 million barrels per day for 2016. In 2016, oil related revenues are expected to contribute N820 billion."

IPOB'S DECONSTRUCTION BUHARI'S LIES:

1 barrel of crude oil = $38
Estimated production per day = 2.2 million
Gross earning per day based on $38 per barrel = $83.60 million
Gross earning for entire 2016 (365 days) = $30.514 billion
2016 Gross earning in Naira (assuming $1 = N200) = N6.1028 trillion
But, according to Buhari, Expected revenue from oil = N820 billion
Difference between Gross earning and Expected revenue = N5.2828 trillion
Percentage of Expected revenue to Gross earning = 13.44%
Percentage of the Difference to Gross earning = 86.56%

QUESTIONS BY IPOB:
1) What is the total amount, per barrel, of crude oil that comes to Government after sales, that is, after removal of the cost of operation/production?

2) How did Buhari and his gangs come up with the 2016 Expected revenue of N820 billion when the 2016 Gross earning from oil, based on $38per barrel, will be N6.1028 trillion?

3) Can Buhari and his gangs explain what happened to the difference between the 2016 Gross earning and 2016 Expected revenue which stands at N5.2828 trillion? If N820 billion (13.44% of Gross earning) is the net, then is N5.2828 trillion (86.56% of Gross earning) the cost of production for the 803 million barrels?

4) Is Buhari with his gangs telling his Nigerian people that out of N6.108 trillion, Nigeria will only receive N820 billion? And if so, why? what happens to the remaining N5.2828 trillion or is that the cost of producing 803 million barrels of oil in the course of 365 days? If so, how did that N5.2828 trillion cost come about?

5a) Even if we go by the Expected revenue of N820 billion and crude oil production of 2.2 million per day for 365 days totaling 803 million barrel in 2016, calculations with respect to Expected revenue of N820 billion show a projected revenue of N1,021.17 per barrel or $5.106 per barrel (assuming $1:N200 ratio). So, is the expected net income that comes to Government for 2016 going to be $5.106 per barrel after selling the crude oil at $38 per barrel?

5b) Where is the difference of $32.894 per barrel going to?

5c) Is $32.894 the cost of overheads in producing one barrel of crude oil?

5d) If not, then into who's account, has this $32.894 per barrel gone?

IPOB is asking Buhari and his gangs!!! Source: www.thebiafratimes.co/2015/12/deconstructing-buharis-2016-budget-of.html

Your analysis is wrong.You need to remove the following cost before determining Federal Government Revenue from Petroleum:

1.Production cost/Profit sharing with the multinationals

2.Share by State Government and Local Government Area of the revenue accruing thereoff.

Image123:
AUDITOR GENERAL FOR THE FEDERATION 2,546,054,797
BUDGET AND NATIONAL PLANNING 7,899,752,498
FEDERAL MINISTRY OF AGRICULTURE 29,752,546,639
FEDERAL MINISTRY OF DEFENCE 294,525,795,702
FEDERAL MINISTRY OF EDUCATION 369,556,376,895
FEDERAL MINISTRY OF ENVIRONMENT 14,678,214,892
FEDERAL MINISTRY OF FINANCE 10,372,901,558
FEDERAL MINISTRY OF FOREIGN AFFAIRS 40,663,193,241
FEDERAL MINISTRY OF HEALTH 221,712,151,746
FEDERAL MINISTRY OF INDUSTRY, TRADE AND INVESTMENT 10,592,662,867
FEDERAL MINISTRY OF INFORMATION & CULTURE 39,172,778,886
FEDERAL MINISTRY OF INTERIOR 145,282,766,543
FEDERAL MINISTRY OF JUSTICE 17,719,212,450
FEDERAL MINISTRY OF LABOUR AND EMPLOYMENT 7,817,589,915
FEDERAL MINISTRY OF MINES AND STEEL DEVELOPMENT 9,523,165,652
FEDERAL MINISTRY OF NIGER DELTA 2,050,935,865
FEDERAL MINISTRY OF PETROLEUM RESOURCES 54,466,518,578
FEDERAL MINISTRY OF SCIENCE AND TECHNOLOGY 25,853,337,717
FEDERAL MINISTRY OF SPECIAL DUTIES SGF 72,894,125
FEDERAL MINISTRY OF TRANSPORTATION 13,797,393,980
FEDERAL MINISTRY OF WATER RESOURCES 7,206,418,733
FEDERAL MINISTRY OF WOMEN AFFAIRS 1,304,395,038

FEDERAL MINISTRY OF WORKS POWER & HOUSING 34,245,043,369
FEDERAL MINISTRY OF YOUTH & SPORTS DEVELOPMENT 70,816,387,061
FISCAL RESPONSIBILITY COMMISSION 340,394,768
INDEPENDENT CORRUPT PRACTICES AND RELATED OFFENCES COMMISSION 4,277,699,554
INFRASTRUCTURE CONCESSIONARY REGULATORY COMMSSION 858,135,007
MINISTRY OF COMMUNICATION TECHNOLOGY 9,917,128,516
NATIONAL SALARIES, INCOMES AND WAGES COMMISSION 636,261,777
NATIONAL SECURITY ADVISER 57,730,068,052
OFFICE OF THE HEAD OF THE CIVIL SERVICE OF THE FEDERATION 6,455,015,808
POLICE FORMATIONS AND COMMAND 283,091,240,698
PRESIDENCY 19,969,489,292
SECRETARY TO THE GOVERNMENT OF THE FEDERATION 45,379,169,534

i think 9.5billion is small for mines and steel if we want to quickly diversify the economy. Buhari has been harping on agriculture and mining, abi na Fayemi go shortchange himself for budget presentation?
Youths and Sports is more than double of work, power and housing ke? What are they doing there?
NSA 57.7billion, hehehehe, they will spend it faithfully this time and even return change.

My friend 2016 is an olympic game year

totoisgud:
They could hv bought the software on a payment plan just like mortgages. Even if they dispose of it they are bound 2 complete payment. CBN doesn't believe dat Stanbic mistatement was material enough to cause misrepresentation. Basically they r telling d FRC dat they r out of line and dat they acted with impunity. If they r right then d FRC has been taught a bitter leson

Based on my experience with multinationals and NOTAP registration, I am definite that payments would have started a year before NOTAP approval was gotten.Most of the multinational companies and auditors obfuscate their audited accounts to ensure they do not pay the require taxes.

I think FIRS should be a party to this issue,if NOTAP approval were not gotten for the technical fee and Stanbic went ahead to back out the technical fee before charging tax,they should be made to add back those technical fee expense to profit and taxed appropriately.WITHOUT NOTAP APPROVAL,TECHNICAL FEE IS NOT AN ALLOWABLE EXPENSE WHEN COMPUTING TAX.

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jaymichael:
Which Panalpina? the one that was sent packing from Nigeria during OBJ era?

I don't understand why our Journalist lie so blatantly.Panalpina has left Nigeria since almost a decade.May be it is premier logistics they are talking about.

Good

What is laughable in revaluation of currency in Economics. Did Ghana not do this some years agos.Or didn't Chukwuma Soludo suggest same some years ago.

A very notorious drug lord that was responsible for the assassination of a lot of policemen and judges in America some years back was actually not convicted of Murder or drug trafficking but on tax evasion. Not paying his taxes from his illegal earnings.

To convict somebody like Dasuki on terrorism would be difficult.it is better to get the maximum sentence on little crimes-illegal firearms/tax evasion.and thereafter the government can negotiate from a position of strength either to send him for trial on a bigger case or listen to his plea bargain to divulge information

JUBILEE2000:
If this news is true then d president would have made a mistake. Appointing a lawyer as NNPC GMD is a wrong step. You need to be a technical person esp an Engineer to understand the dynamics of the oil industry and manage it efficiently. Those of us in the industry will understand what I mean.

The current CEO of statoil is an economist see https://en.wikipedia.org/wiki/Eldar_S%C3%A6tre

The current CEO of Saudi Aramco Abdullah S. Jum'ah had a first degree in pol.science and started his career in public relations.https://en.wikipedia.org/wiki/Abdullah_S._Jum%27ah

What mistake are you then talking about?.

Imam Imam ‏@imamdimam · 52m52 minutes ago
1. Kayode Are was the Chairman of the Intelligence Cttee of Obasanjo Presidential Campaign Council in 1999. After polls, he became DG SSS.


2.Imam Imam ‏@imamdimam · 50m50 minutes ago
2. Kayode Are worked for PDP, and was PDP's member before he became DG of SSS. Why is PDP complaining about Daura now? Bunch of hypocrites.

3.Imam Imam ‏@imamdimam · 35m35 minutes ago
Daura retired from SSS and decided to have sympathy for a political party, did Ogar nd Ekpenyong retire from service before working for PDP?

@imamdimam
George Bush, Snr., was the Chairman of d Republican National Committee before Ronald Reagan appointed him CIA Director

You CAN NEVER BE THE GOVERNOR OF EDO STATE.EZE-IYAMU OR WHATEVER YOU CALL YOURSELF

KEVIND:
If over 700Billion Naira is derive from dividends and taxes paid to the Federation Account by the Nigerian Liquefied Natural Gas Company (NLNG),in one Month. That means 8.4 Trillion Naira is expected in one year from this source.When you add crude oil sales to it, I guess Nigeria will almost be like Dubai in 4years.

NLNG-Company Income Tax is payable once every year.and the dividend may also be annual.

Dollyak:
In my opinion, this probably means some states are renegotiating their terms with Alpha beta or canceling their contracts. For instance, getting 10% of Lagos tax revenue is simply too much for one consultancy firm and I would imagine similar terms applies to other states.
The union narratives seems far fetched to me. Red herring?

Please stop displaying your ignorance on Nairaland,The 2011 Personal Income Tax Amendment Act,makes provision for 5% of revenue collected as may be approved by the State House of Assembly would be retained by the State Internal Revenue Service to defray cost of collection and administration.How is it now possible that 10% of Lagos tax revenue is been paid to Alpha Beta Consulting.

The non-payment of salaries in most states affects the tax collected in those states which thereafter affects the amount any consultant including ABC can get from the states.

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Constant supply of electricity must be accompanied by heavily developing our railway system particularly Cargo trains.

The cost of haulage services in Nigeria is too high.