₦airaland Forum

No wonder South Africa education is lowly ranked. It takes you ages to understand that world standard vat is around 15 percent. How should I explain this differently.

AfriqueDuZuid:
It differs from regions to region

Well if you say euro region is 20%, Americas 11% Asia...

That when you can say the average VAT rate doer a certain region, it it will make sense, at times don't argue for the sake of trying to sound smart.

You are wrong, the Word standard was used incorrectly in this part

It doesnt change a thing - the standard vat rate around the world is around 15 percent. Get over it. Bonobos

vankelvin:
Mr. Lunatic use 2021 figures not 2011 figures. You are always fond of twisting and manipulating figures.

Even with your own figures you have to lie to make a point?

Whether we believe this your data or not is also a different topic for another day.

Facts are very stubborn things.

KPMG has standard rates - if you average Africas 14, Asia 12, america 13, europe 20, eu 19 - it's 15 percent.

https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/indirect-tax-rates-table.html

theenchanter:
repeating the same thing over and over again won't make it correct.

Enjoy ur ignorance.

This is from your gov - maybe you will trust it more. Ghana VAT is 15 percent. They are levies charge on some goods for NHIL/GETFund just like in Kenya we have many levies too - like road levy, railway development levy, electricity dev lev, rural electrification levy, etc - that are earmarked or ringfenced for a specific purpose - unlike taxes which are dumped into one treasury basket.
https://gra.gov.gh/domestic-tax/tax-types/vat-standard/
Value Added Tax (VAT) is a tax applied on the value added to goods and services at each stage in the production and distribution chain. It forms part of the final price the consumer pays for goods or services. In some countries it is called ‘Goods and Services Tax’ or GST. Click HERE to File and Pay for your VAT Standard Rate.

The 2018 Mid-Year budget amended the VAT rate from 15% to 12.5% and delinked the National Health Insurance Levy (NHIL) and Ghana Education Trust Fund (GETFund) from VAT by removing their input tax deductibility. These changes have implications on the computation of tax for VAT Registered persons. Click HERE to File and Pay for your NHIL/GETFund.

Just30:
You are dumb

They are part of the VAT charge
making VAT 20% of whatever you buy in Ghana

As we speak now - all ETR machines are connected to KRA - so they know what you sold - and how much taxes you need to remit. That is how to build a country.

The Kenya Revenue Authority (KRA) has given businesses until August 2022 to install new electronic tax registers connected to its systems for monitoring of daily sales, popularly known as ETR machines.

The law requires all businesses with an annual turnover of at least Ksh5 million to have ETR machines for easy monitoring of daily sales and tax returns.

“Kenya Revenue Authority wishes to inform the public that the rollout of the Electronic Tax Invoice pursuant to the provisions of the Value-Added Tax (Electronic Tax Invoice) Regulations 2020 shall commence on August 1, 2022,” said KRA in a statement.

Something bonobos can learn from Kenya.

Kenya is amongst few countries that requires business earning more than 3m I think to have ETR machines

This has been required since 2005 - having copied from Greece.

This ensure VAT taxes are paid - and we do not become another banana republic that depend on UNRELIABLE natural resources to fund gov

West Africa education system need an overhaul.
Taxation is taught in Kenya primary schools.
Anyone earning wages in most countries pay income tax - popularly known as P.A.Y.E - pay as you earn. This tax on labour.
VAT is tax on the invoice value of goods and services. This tax on receipt or invoice value of most of goods and services you sell.
Corporate tax is from gross profit that companies make.
Custom duties - are from imports.

Just30:
You are dumb

just shut up

so wages is income tax? eii boy

Improve what? Stop digging. The standard vat worldwide is around 15 percent.

obaaderemi:
This guy is really a donkey. He can't improve.

I bet you never went to any serious school - just the usual madrassa as almajiri in Kaduna - so you can get fed by Dangote and other northern elite. That explains your very limited vocabulary.

Standard.
adjective
1.
used or accepted as normal or average.
"the standard rate of income tax"
Similar:
normal
usual
typical
stock
common
ordinary
customary

This is your alma mater where you received daily alms and a few koranic teaching.
https://www.westafricanpilotnews.com/wp-content/uploads/2020/03/Almajiri-system-1280x853.jpg

theenchanter:
Standard mean Average.

Rvp20182 is chronically mad.

Another west African bonobo. The standard vat rate in world is 15 percent. That is the average. VAT has nothing to do with currency or wages. Wages is PAYE or income tax.

Before we lose the point in your habitat - the zoo - kenya charging 16 percent - do not therfore overtax it citizen - which was obaboon lame excuses to explain why Nigeria and Kenya have same revenues with all oil inclusive

vankelvin:
You are too close minded.
There's nothing like World Standard VAT rate anywhere. Not all currencies nor wages are the same so VAT around the World can't have Standards.

Stop judging issues with your timid Kenyan mentality. Broaden your horizon by learning new things from others.

Obaboon indeed, standard mean average. I did not say there is a uniform VAT. There isnt. Not even in Kenya. It was 14 percent last year as gov doled out tax incentives.It used to be 18 percent for sometime. I know more fiscal and tax policy than you know your forest ecosystem.

obaaderemi:
Know many things? My stand is that you know nothing. Do I need to tell you the meaning of ignorance?
And someone just told you there's no standard rate for VAT globally. Can't you just drop these meaningless arguments and have some peace in your life?

Now, tell us how the word either would have worked in the sentence you wrote.

South Africa and Nigeria - world highest unemployment -

South Africa’s unemployment rate surged to the highest on a global list of 82 countries monitored by Bloomberg.

The jobless rate rose to 34.4% in the second quarter from 32.6% in the three months through March, Statistics South Africa said Tuesday in a report released in the capital, Pretoria. The median of three economists’ estimates in a Bloomberg survey was 33.2%.

https://www.bloomberg.com/news/articles/2021-08-24/south-african-unemployment-rate-rises-to-highest-in-the-world

So genius you think I know many things except such basic facts that you're belaboring?

This is what I wrote - The standard VAT rate in the world is around 15 percent.

That statement is very factual. Two key words - standard and around - I would have used either - but I double down hoping you wont start this kind of juvenile infantile ranting.

obaaderemi:
This is why you are ignorant. Someone just explained to you that there is nothing like a single standard rate for the world, instead of you to keep quiet and learn, you let your ego stand in the way.

Each country has got their own standard vat rates and reduced vat rates.

Should we offer free English lesson too?
Standard- used or accepted as normal or average.
"the standard rate of income tax"

theenchanter:
there's no standard VAT rate in the world, u idiot. Every country peg their VAT to their economic capabilities.

Canada, Saudi Arabia, Singapore, Japan, UAE, USA, Malaysia, Taiwan, Switzerland etc are doing 10% vat rate and less, England does 12.5% and so on.... It's EU that set it's members minimum rate at 15%.

I don't see where leaders of the world came together to have a "standard VAT rate in the world", that's just one of ur manipulative gesture about proving a non-existent point.

what difference btw 15 and 16 percent? are you desperate or what.

The standard VAT rate in the world is around 15 percent. Kenya charges 16 percent. That as reasonable VAT.

obaaderemi:
So their VAT rate is even higher than that of SA.

It's better to let the Kikuyu man be.He doesn't have any say except what rvpguy blows into him like a flute. Same for the bifwoli idiott.

I am glad you want to discuss data.
Pick the year - 2019/2020 or 2020/2021
Let compare total revenues in Kenya and Nigeria
And tell me how your economy is 4-5 times Kenya.
Revenue including oil.

The only major difference is VAT - where your rate is roughly half of kenya - the rest is very similar - so quite the excuse about taxing more (you cannot go beyond 30 percent )
And VAT in kenya is not a lot of money - many items are zero rated.

obaaderemi:
Yes, obviously you just type figures out of your big bum.

Thank you for making my job easier by supplying the tax chart for Nigeria and the revenue chart for Kenya. I am going to kill you with your own provided charts.

Look closely at the chart for Kenya. What you circled in red was just a projection for Financial Year 2021/2022. We are still in 2021. So I have taken the trouble to circle the correct financial year for you in BLUE. For the last financial year, Kenya's total revenue is
ksh 1.8trillion. That's roughly $17bn!.
If I include grants from your foreign donors, we arrive at $18bn(ksh1.9tr) according to your chart.

Meanwhile for Nigeria, from the chart you provided which I have attached again for everyone to see: total tax is #8.8tr in the fy 2019/2020. That's roughly $22bn. That's more than Kenya's $17bn.
That's just taxes. For total revenue, for Year 2018: check this out, son:
https://eiti.org/es/implementing_country/32
$32bn. That's something Kenya can only dream of. That's why we are not as indebted as Kenya and why China and IMF are not dictating to us to cut funding to universities and not increase workers salary for the next 4 years like they ordered Kenya.

Nigeria is not taking taxes seriously. I am for higher taxes and a wider tax net for Federal and states. It will take away the laziness of the governors. But don't ever repeat it again in your sorry life that Kenya gets a higher revenue than Nigeria. Let it stop here and now! Stop misleading stupidd people like the Kikuyu cokehead who sees you as his father. You are not smarter than a secondary school boy in Lagos.

Our donated Mt Kilimanjaro to TZ - tallest mountain in africa - now visible from Nairobi. KaziKazi unable to put a curtain on it yet

Nairobi parklands

Did you try to look for it? You think I just write figures.

53. Going forward, total revenue collection for the FY 2020/21 including appropriation-inaid (A.I.A) amounts to Ksh. 2,134.1 billion (18.3 percent of GDP) as compared to Ksh.2,084.2 billion in 2019/2020 (20.1 percent of GDP). Ordinary revenue in the next
financial year is projected at Ksh.1, 856.7 billion (16 percent of GDP). Growth in
revenue projections will be occasioned by an increase in revenue collection from
income tax head as well as VAT head. Generally, it is projected that overall revenue in
the FY 2020/21 is expected to grow by 2 percent as compared to FY 2019/20 with
ordinary revenue expected to grow by 1 percent while A.I.A is expected to increase by
18 percent to Ksh. 249.6 billion. It’s worth noting that there is volatility in A.I.A,
therefore the projection may not be achieved over the medium term

obaaderemi:
No, he has been fighting the same lost battle for about 4 years and you only make it worse for him.

Kindly help him with links showing how Kenya made up to $22bn as revenue. Thanks.

Concentrate on stopping Chinese criminal gold gangs. To convert titanium sands to titanium metal is very costly process - that is why it has very little practical usage - titanium bike is probably more expensive than your car. Otherwise, titanium sands are one of the most plentiful of minerals. It is not gold that you got.

Titanium is the ninth-most abundant element in Earth's crust (0.63% by mass)[22] and the seventh-most abundant metal. It is present as oxides in most igneous rocks, in sediments derived from them, in living things, and natural bodies of water.[6][7] Of the 801 types of igneous rocks analyzed by the United States Geological Survey, 784 contained titanium. Its proportion in soils is approximately 0.5 to 1.5%.[22]

Just30:
That only happens in your dreams

Titanium, one of the most precious metals on Earth is sand, you say?

Kid you are dumb

I say focus on Non-Oil. Yes in total revenues is 22B. Kenya total revenues is about the same. Kenya collect 17B in ordinary taxes and another 4B in A-I-D(user fees, court fines, such). All the 47 Counties also collect about 1B dollars - from business licensing, market fees, user fees, such.

So in total Nigeria federal+36 states collect Kenya revenues - same 22B. Their budgets in same the same - about 35-40B - when you combine both states+federal and kenya national+47 counties

So explain to us
1) Why Nigeria non-oil revenues - both a state and federal - despite charging taxes that are at par with kenya (except for VAT) - are TZ level.
2) Why all total revenues - both state and federal - inclusive of Oil - sum up to 22B - like 100B dollar economy.

Bottom-line - you economy is OVERESTIMATED. I have done my maths. Your real economy should be about 200B dollars.

South Africa collect 80B in revenues.

obaaderemi:
I see total tax of #8.8trillion from your chart. That's $22bn. A fourth of Kenya's GDP.

Obaboon,
It quite simple.
Explain to us Nigeria tax regime.
Explain to us why Nigeria 500B economy collect less than 10B.
We are talking Non-Oil revenue.

Yemi Kale is the genius who shocked the world that Nigeria economy - Oil is 10 percent - but revenue it contributes is 90 percent.

Let start with Nigeria
VAT = 7.5 % now - used to be 5%. It 16 % in Kenya
Corporate Tax - 30% percent like kenya
PAYE=7-24% bands; kenya 10-30%
Custom= I can seem to tell - but I imagine near similar import duties and excise duty

Now explain to us how the data below make sense.

4.8 trillion (non-oil) revenues - for entire 36 states and federal gov - 12B dollars. That is Tanzania level of taxes.

obaaderemi:
You are showing your frustration again.

You brought no data. Even a donkey like you should be wise enough to include links.
So you finally admit McDonald Obhudo is not as good as Yemi Kale and now you are trying to push forward a white settler who was part of the worst looting in the history of Kenya and Africa as a whole. You are a disgrace to the African race. Get your big donkey ass out of here. Shameless little Indian.

I already gave you the data. You refuted. I thought you were interested in a meaningful engagement. I guess it back to default BABOON mode.

Kenyan is a kenyan. White or asian or nigerian born. He is a kenyan. And even if he wasnt - we would hire him as expat.

We are interested in the brains of Prof Ryan - not his race.

obaaderemi:
Have you forgotten how you source for news on Nigeria day and night robbing yourself of peace of mind? Why should I be the one to show you anything about Nigeria here?

Ryan is a settler. Stop your inferiority complex and stop disrespecting the McDonald man. Tell us about his profile and stop telling us about the white settler who oversaw the raping of Kenya at the hands of a 28 year old Indian boy.

Which jobs are being created - when 100M nigerians are poor? When Nigerians are walking the Sahara to get any job outside their countyr.

Jobs will be created when like kenya you LIBERALIZE or OPEN UP YOUR ECONOMY.

Your economic policy mirror kenya before 1993.

1) Forex controls. Kenya did away with it in 1993. Nigeria is right there. There are many forex rates for many different people. Big business buy at official rate of 380 now to a dollar. The others buy at 420. Then average Nigerian cannot get dollars from their bank and have to buy from black market at 500.

Just imagine how much profit people with connections to Central Bank of Nigeria can make from such ABRITRAGE.

I had a Nigerian candidate interview for a position in my previous employer in kenya - and he was surprised that in kenya you walk to any bank and buy forex.

2) Banking is the same - some borrow at 11 percent - others at 30 percent! That interest arbitrage favors a few and codemn the majority to poverty.

3) Import controls - Banning of several goods - ostensibly to promote domestic economy. That would be a good economic policy if only done for say 5yrs to allow for nigeria domestic companies to catch up - but to have such an economic policy for eternity - will only mean Nigerians will pay very HIGH PRICES for very LOW QUALITY product. And who benefits? Nigerian Northern businessmen.

Kenya is well liberalized open economy. Everyone is free to come. Competition is brutal. Dangote has tried to come and everytime he ask for stupid concession and he is told - kenya is 30yrs away from such retrogression. Nigerian banks are coming and they are making losses.

South Africa companies - and unlike Nigeria - we do not shake them for taxes - we send them back through BRUTAL competition.

The beneficiary is kenyan consumer. Kenya companies once they expand regional -it almost given they will make profit. They have thrived in enviroment of brutal comeptition.

That is why kenya an economy with 11 percent arable land - large semi arid - and without any minerals - is kickign arse,

But you think it's loan - who will loan you if you cannot repay

Which jobs are being created - when 100M nigerians are poor? When Nigerians are walking the Sahara to get any job outside their countyr.

Jobs will be created when like kenya you LIBERALIZE or OPEN UP YOUR ECONOMY.

Your economic policy mirror kenya before 1993.

1) Forex controls. Kenya did away with it in 1993. Nigeria is right there. There are many forex rates for many different people. Big business borrow at official rate of 380 now to a dollar. The others borrow at 420. Then average Nigerian cannot get dollars from their bank and have to borrow from black market at 500.

Just imagine how much profit people with connections to Central Bank of Nigeria can make from such ABRITRAGE.

2) Import controls - Banning of several goods - ostensibly to promote domestic economy. That would be a good economic policy if only done for say 5yrs to allow for nigeria domestic companies to catch up - but to have such an economic policy for eternity - will only mean Nigerians will pay very HIGH PRICES for very LOW QUALITY product. And who benefits? Nigerian Northern businessmen.

Kenya is well liberalized open economy. Everyone is free to come. Competition is brutal. Dangote has tried to come and everytime he ask for stupid concession and he is told - kenya is 30yrs away from such retrogression. Nigerian banks are coming and they are making losses.

South Africa companies - and unlike Nigeria - we do not shake them for taxes - we send them back through BRUTAL competition.

The beneficiary is kenyan consumer.

That is why kenya an economy with 11 percent arable land - large semi arid - and without any minerals - is doing very well

But you think it's loan - who will loan you if you cannot repay

Interesting. On Goldenberg, because it happens post-Kanyottu exit at NSIS (special branch).

Kanyottu was brilliant, secretive and a weirdo almost - alumni of the famed Alliance High School that historical pick Kenya's best young kids who lead in their primary exam in their district - and had managed to head intelligence from the existence of British till 1991. Like Brig Boinnet - I have heard he had an almost photographic memory - would never forget a face - and was almost born to be an intelligence officer.

I thought he got fired for failing to work on Kibaki or at least letting Moi know. When Kibaki in Dec 1991 announced he was quitting gov and KANU as health minister and forming DP - Moi was livid. The story goes Kanyottu had a soft spot for Kibaki and had delayed letting Moi know his game plan. Moi hated surprises. He promptly fired Kanyottu and got the useless Kivuvani - who was one of the directors of special branch

Goldenburg initially seems an igneous idea to beat forex shortages after donors suspended AID to Kenya on account of widespread human rights violation. Aid then consisted of 60 percent of the direct budget. The economy got an almost 60 percent forex cut and was thrown into air spin

Lots of DRC congo gold use to end up in Nairobi - JKIA - on its way to Europe and Asia - and when lanky 24yrs Pattni whose family were into small-time gold smelting sold this idea - everyone was happy. Kenya could beat forex storage by stealing Congo gold. The idea was simple Pattni would be paid in Kshs for gold - no question asked.

Soon the illegal scheme became even more comical - as Goldenburg would bring fake gold or no gold but get paid in KSH. CBK was now printing Ksh to pay for non-existent gold.

By the time Central bank realized the mess they were; Kshs had dropped from 20shs to 64shs to a dollar. The interest rate has risen to 80 percent. Kenya gov was paying 84 percent for 90 days treasury bill. Hyperinflation was on. Everything shot...bread from 5sh to 20s...poverty was now endemic.

The economy had collapsed. Btw this normal situation in Nigeria or Ghana.....everyday is like kenya 1993.

Somehow Kenya economy managed to crawl through and so did Moi gov. Moi after winning 92 election- managed to ensnare IMF a record a 5 times. He got donors back - promising reforms that never came. Few months they realized Moi had no intention of reforming - they cut AID. Moi fires the minister. Moi goes back to IMF Washington and lies again. They brought money. Moi reneges. It became so commical until Moi told IMF in 1997 to pick their cabinet and do whatever they wanted...DREAM TEAM lead LEAKEY white Kenyan was appointed to head civil services and private sector key players...they fired almost half of civil services and many painful reforms...kenya somehow survived....no other country in Africa could survive what kenya did in 1990s.

Almost all never lasted a week before their army took over...and turned a bad situation worse. Zambia and Tanzania are exceptions because Kaunda and Nyerere admitted failure - and went home. The rest dug in, they could not even pay army salaries and their army took over..and then raped their countries..

There are many things people associate with Kibaki regime - but Moi in 90s took painful decisions - including removing donor funding from the budget - reforming the banking sector - forming KRA - and many institutions. Most of the reforms happen of course with IMF supervision - but Moi had set kenya to path of self-reliance - and as he left power - Kenya was financing its budget to 95 percent. Kibaki took to 98 percent..now it is zero.

kikuyu1:
The plot itself was big at LEAST 8 ac IIRC. He had 2 other unacknowledged wives which led to all kinds of inheritance f'ery. He operated a number of unregistered businesses with shady Israeli intel partners.
He was the true mastermind of Goldenberg. He conned Pattni into believing Moi had given assent to his export compensation scheme when he'd ALREADY been replaced by Kivuvani in a typically Moi era comedy straight out of Boondocks.
Late '90 the illiterate Machakos KANU boss rolled up announced to the private Kabarnet gardens residence with a story of intrigue. Kanyotu was abroad meeting with enemies plotting ill! In fact he SHOULD be replaced immediately and Mulu had just the guy
Mulu Mutisya-William Kivuvani.
Kanyotu, shopping in Dubai, at the time still far from what it is today rushed home and made a blunder which may have been caused by jetlag. He resigned assuming Moi would come out and force him back into office where he'd served some '65.
DIDN'T HAPPEN! In revenge he cooked up Goldenberg making at least half a billion dollars in 1992 easily a billion today.

Dangote is making a kill both ways. Concrete roads are expensive. He is not paying taxes and he is selling cement. Meanwhile the rest of Nigeria look like this.

https://www.youtube.com/watch?v=fWDcQKW6FME

14 hours journey takes 78 days - truckers sleep 10 days on some section

vankelvin:
It's very durable

20yrs ago - there was just a dusty town and nothing much - it was like Gachie - but the entire area has transformed. Now with the completion of the western by-pass - that entire area is ripe for serious transformation. My bro is married to a girl from Ruaka - I tell those people lifes have transformed. His father in law who did not go to school is now millionaire; but also many have wasted the money in booze. Kiambu has a serious drug (alcohol) problem affecting men coz of free money from serious land appreciation. An acre in Ruaka is now 1M dollars i think.

kikuyu1:
I first visited Ruaka in the early 80s. Typically semi rural Kiambu district: cows, coffee and market gardens were the main occupations with most residents working in the city.
The worm has turned! An in laws family has rejected 10 mn USD for their 10.5 acre plot. Ruaka in the past decade has become a new country.

Empty words that do not amount to a bucket of warm spit. Kenya is an unfolding africa success story

obaaderemi:
Ogbeni, go and sit down. The whole world will soon give up on your useless debt ridden hellhole.

Yemi Kale stats do not make any sense. That is why despite having almost the same tax rate as kenya - you collect 1.8 trillion Naira annually - that is like like 5B dollars at the federal level.When it come to state level - Lagos lead with 400-500M. All the rest of states combined about that.

HOW CAN YOUR ECONOMY COLLECT ALMOST RWANDA-LIKE REVENUE.

Show me a failed state - and Nigeria, Somalia would top my list.

obaaderemi:
You are shameless and funny in equal measure.

You felt McDonald man is not worthy to lace Dr Kale's shoes in terms of academic profile and experience, so you unearthed one old white settler to help your case.

You are not being fair to McDonald Obhudo your countryman. Your inferiority complex is second to none.

You don't need to comb the internet for Nigeria bad news. It is almost a given. I actually gave up on your zoo about 4yrs ago. I am mostly on Ghana and such countries.

The number of people killed daily is astonishing. It's a zoo.

obaaderemi:
He has suffered enough already. Imagine having to comb the internet everyday for news on Nigeria only to get body slammed repeatedly. At times I pity him.

Is anybody else in the world using this scheme. It's very hilarious if you ask me. How do you prevent conflict of interest?

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

68816419:
The roads, specifically Under Tax Credit scheme
https://tribuneonlineng.com/fec-okays-n309-9bn-road-contract-for-dangote-as-tax-credit/

More on Kenya re-known economist Prof Terry Ryan. He taught at UON for long time before working for gov for many years as Chief Economist - the only white man working for kenya gov I think

When I was a young lad barely into long trousers, a greenhorn studying A-level economics for the first time, a most formidable gentleman used to intimidate us with his prowess. His name was Professor Terry Ryan, and he was (and is) Kenya’s renowned economist and policy guru. These days, I am honored to sit on an advisory board alongside Prof Ryan, who is still going great guns – but that’s a story for another day.

I thought of the good professor when I picked up a book by another economics guru. Prof Ryan used to tell us he could summarize all of the economics on a single page – which was mind-blowing when we struggled with all the huge textbooks in our curriculum.
https://sunwords.com/2011/06/27/a-golden-rule-to-help-you-evaluate-the-worth-of-your-policies/