emmanuelewumi:



For Lagos State, dem no send you oooooo.


After submitting all the necessary documents in January 2023, they still asked me to pay an additional 500k based on their Best of Judgement from the tax office

robobo:


But is it Legal to still ask of such? if not is their any reason why you did not explore legal option against LASG?

wld appreciate if you can share.

emmanuelewumi:



For Lagos State, dem no send you oooooo.


After submitting all the necessary documents in January 2023, they still asked me to pay an additional 500k based on their Best of Judgement from the tax office

emmanuelewumi:
Can a tax professional explain this to me

yMcy56:
TRANSCORP
- Another Off Market Trade of 1.05B was executed today @N1.85k
- 787.5M Deal done yesterday also @N1.85......

* If these trades were executed on behalf of Tony, then TOE might have overtake Otedola to become the single largest shareholder with 6.71% representing 2.684B shares in total.

* We wait for further updates on this..

Frangel:
I'm not a tax professional but the provision applies to capital gains (profits) made when shares with value of N100million and above are sold, without all or part of the proceeds reinvested in shares within a year. The 10% tax is applicable on the capital gains (profit) made in the sale.

Example, shares bought at total cost of N70m were sold for N120m and cost of sale was N1m, capital gains would be N49m. CGTax is N4.9m, assuming the proceeds were not reinvested within a year.

emmanuelewumi:



So my Stockbrokers will have records of my purchase price and the profit made

yMcy56:
TRANSCORP
- Another Off Market Trade of 1.05B was executed today @N1.85k
- 787.5M Deal done yesterday also @N1.85......

* If these trades were executed on behalf of Tony, then TOE might have overtake Otedola to become the single largest shareholder with 6.71% representing 2.684B shares in total.

* We wait for further updates on this..

** My opinion and estimation. Not any form of advice**

** The 200M and 500M single bidders @2.23 removed their bids at some point towards market's closing.......let's see if they'll again show up tomorrow, God willing**

Zagee:


TOE has refused to price his possession for long and make shareholders smile. Oh well, I hope he losses out oh.

jideflash:
FG approves Oxford Malaria vaccine
“The Marketing Authorization Holder is Fidson Healthcare in line with the Agency’s Drug and Related Products Registration Regulation 2021.
https://nairametrics.com/2023/04/17/fg-approves-oxford-malaria-vaccine/

emmanuelewumi:



I am not a salary earner, I file my tax papers in January and you are expected to submit records of investment and business income and the taxes paid.

You are expected to inform the government he total income you earned for the year both active income and passive income.


Unfortunately it appears those guys no too like people wey dey earn passive income, they believe we are not paying enough tax.


You will always need the tax clearance if you have anything to do with the government

Frangel:
Transcorp:
Off-market sales at N1.85 when the open market could absorb the volumes at higher prices (more profit) to the 'sellers'? These shares might have been held off-the-radar in pseudo/proxy accounts controlled by TOE before now. They're being consolidated now so as to declare the holdings officially, with FO's deal made public.

These things could happen.

Frangel:
Transcorp:
Off-market sales at N1.85 when the open market could absorb the volumes at higher prices (more profit) to the 'sellers'? These shares might have been held off-the-radar in pseudo/proxy accounts controlled by TOE before now. They're being consolidated now so as to declare the holdings officially, with FO's deal made public.

These things could happen.

Lion123:


You are actually VERY CORRECT. I am actually now just hearing that TOE owns more than 40% of Transcorp and that all his shares have long been held by these proxies and he's only bringing them out now. He's following the Keem Osagie playbook with UBA pre-2004. I don't know why he'll be hiding his true position.

Mpeace:
Which open market. E be like say you no dey see the level of bid. The seller made a serious loss. The seller lost over 140 million naira and counting.

yMcy56:

You're right....
Chai!! Transcorp don weaken Loco's vibes! 😕
It's well bro. All the best.

GreatEko:


Did you file your tax papers by yourself or through a tax advisory firm?

Teeonly:
https://doclib.ngxgroup.com/Financial_NewsDocs/38273_ACCESS_HOLDINGS_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2022_FINANCIAL_STATEMENTS_APRIL_2023.pdf

N1.30 Dividend

Teeonly:
https://doclib.ngxgroup.com/Financial_NewsDocs/38273_ACCESS_HOLDINGS_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2022_FINANCIAL_STATEMENTS_APRIL_2023.pdf

N1.30 Dividend

emmanuelewumi:



I am not a salary earner, I file my tax papers in January and you are expected to submit records of investment and business income and the taxes paid.

You are expected to inform the government he total income you earned for the year both active income and passive income.


Unfortunately it appears those guys no too like people wey dey earn passive income, they believe we are not paying enough tax.


You will always need the tax clearance if you have anything to do with the government

Mankindman:


A good accountant or an experienced tax filler should be able to beat CGT in Nigeria.
There is a room for asset depreciation, inflation, exchange rate fluctuations and impact on investment,
Control Your Asset Location.
Consider Donating Appreciated Stock to your family/children
Use Tax-Loss Harvesting.
Try Qualified Opportunity Funds: Equity And Derivatives.
Commodities
Mutual Funds.
Portfolio Management Services.
Bond.
Fixed Deposits.
Know Your Tax Brackets (And Use Them to Your Advantage)
Add Stock Into Your Estate Plan, renovation of your house/s yearly from your investment disposal or gain.
Realize Capital Gains With A Unified Strategy by operating an informal business that declared capital loss regularly.
Get the invoices of your everyday expenditures, fuel , supermarket, children school fee, informal labour hired, domestic staff payment, electricity bills, water bill, borehole maintenance.
Use your gain or profit for new loans collateral.
With these strategies, the taxman would be rendered handicapped by a passive income earner.
Say no to CAPITAL GAIN TAX.

Ajibade123:
Is it advisable to sell transcorp now after it rise?

Teeonly:


Dividend Yield - 16.7%

At result Announcement, Top Dividend Yields are:
Access - 16.7%
Nahco - 14.8%
UBA - 13.8%
Lasaco - 13.6%
Zenith - 12.75%
GTco - 12.7%
Okomu - 11.44%
Total - 11.43%

Mpeace:
No one saw Access coming. Now they should have some significant price appreciation.

yMcy56:

If Access doesn't cross the N10 mark with this.........then something unexplainable is happening to the bank...

Both Access and UBA are not supposed to be below N10 again.
If they no wan go, make dem sha give way to Fidelity to move .....