Mandate1:
you go manufacture new BVN?

Don't mind him,for the BVN go exposed the numbers of Accounts you have with Banks!

All this money... Wetin una don use am do?

2021 news, wetin the mod smoke abi my eyes dey pain me Everybody is high these days

What kind of daylight robbery is this? Why not start from where your administration started from? What's the rational behind doing the charges from 2021?

We pray we are able to benefit from all the pains of today occasioned by one policy or decision.

RenaissanceGuy:
Meaning you can receive a debit running into N1m as cumulative charges from 3 years ago

Calm down na! You'd need 20,000 seperate dollar transactions to mount to N1mln. Even oil companies probably don't have, 20,000 credits in their accounts in that time.

No need to over senstionlize the matter!

Tealcrestmedia:
What kind of daylight robbery is this? Why not start from where your administration started from? What's the rational behind doing the charges from 2021?

That's when the law came into effect

sslcrypt:
Please can someone explain this properly. So for example payment made to my company by foreign customers will be charged now, dating from 2021?

So if in Year 2021 total number of transaction was 15 with the total amount of 3 million. Does that mean 50 naira will be deducted from 15 transactions made? Because I don't understand, so what deductions were made then payments were been made then?

The answer to your question is Yes!!

Using your example if you received N3mln, why is N750 an issue?

COMPAQ:


That's when the law came into effect

Laws are created by humans and you don't slam unnecessary and wicked laws in people else they will revolt. Imagine a widow or poor family in Nigeria that's been receiving support from their relatives abroad and have probably spent the money, you want to start now to back bill them? Does that make any sense?

Can someone explain this for me please, i didn't quite understand it.

Tealcrestmedia:


Laws are created by humans and you don't slam unnecessary and wicked laws in people else they will revolt. Imagine a widow or poor family in Nigeria that's been receiving support from their relatives abroad and have probably spent the money, you want to start now to back bill them? Does that make any sense?

So even if said widow received $100 a month since then, that amounts to $3600 since then. At a average rate of say $/750, in that time she has received circa N2.7mln. But she will be asked to pay N1,800. That's 0.06%!!! So N1,800 in the context of N2.7mln is the issue?

What is wicked bout N1.8k!? ($1.50)

You all want Nigeria to be like America and Britain. Common tax of N1.8k una no fit pay.

I can bet 99% of folks here between Jan 2021 and now who have domm account haven't received up to 30credits into that account, which is N1500!

Even if you work remotely and paid every month, max that's 36 credits in your account, which is N1, 800. Basically a charge of $1.50 for 3 years!!

matify83:
Not a big deal if there are no other hidden charges.

not a big deal if it was back dated to 2021?

COMPAQ:


So even if said widow received $100 a month since then, that amounts to $3600 since then. At a average rate of say $/750, in that time she has received circa N2.7mln. But she will be asked to pay N1,800. That's 0.06%!!! So N1,800 in the context of N2.7mln is the issue?

What is wicked bout N1.8k!? ($1.50)

You all want Nigeria to be like America and Britain. Common tax of N1.8k una no fit pay.

yes why target diasporans who already help by remitting cash to Nigeria? cos the bulk sum say up to 99%of these charges will be incurred by people who receive money from people broad.

Islie:


https://www.thecable.ng/firs-directs-banks-to-deduct-n50-stamp-duty-on-intl-transactions-from-jan-2021/amp

I'm not surprised at all. I knew it from the beginning that the APC government has nothing to offer but taxes upon taxes just to fuel their pockets and lavish lifestyles. More taxes will come even fuel prices will still reach 1,000

Angelfrost:


Thinking?!! Nah... They aren't thinking sir.

The plans are fully in motion... Just watch as they unfold.

Massive and shocking tax collection looming.


Wait till you see cost of recharge and data.

I once said the next 4 years of this government will be the worst ever. Let's wait and see what those who has nothing to offer will bring to the table. Awalokan.

RenaissanceGuy:
Meaning you can receive a debit running into N1m as cumulative charges from 3 years ago

50 Naira 3 year charges will accumulate to 1 million Naira?

That means @ least 2 million transactions of 10 thousand Naira & above must have been carried out on that account in the last 3 years?

erico2k2:

yes why target diasporans who already help by remitting cash to Nigeria? cos the bulk sum say up to 99%of these charges will be incurred by people who receive money from people broad.

50 Naira na money, you fit buy 1 Tom Tom sweet for N50?

It is N50 levy you they whine about? Well done, Enemies of The Federal Republic of Nigeria.

There should be statute backing this directive.
However, backdating levies should be illegal.

Bluntemperor:
But why backdating such or is it just to make Money for Govt at all costs?
Why should this law be Regressive on the transactions you had completed over the years?
I don't get it ?
Are you sure this will not open up legal Cases,for different reasons !
The FIRS have a lot of explanations to make o!

It is completely unlawful, almost criminal to backdate implementation when such transactions have already been conducted based on existing standards.

This government is not just hopeless, it's definitely corrupt. It is a tax regime.

favor914:
50 Naira na money, you fit buy 1 Tom Tom sweet for N50?

It is N50 levy you they whine about? Well done, Enemies of The Federal Republic of Nigeria.

This is selfish.look the monies is going into someones pocket.there are more than a million remittance in a day.this would yield a minimum of approx if not more than N70million in a day to be shared amongst tiers of government t.This will in no way reflect on the man on the street.so in local words this is corporate extortion.This is the bigger picturr that is worrying.

Fulgur:


It is completely unlawful, almost criminal to backdate implementation when such transactions have already been conducted based on existing standards.

This government is not just hopeless, it's definitely corrupt. It is a tax regime.

Its not backdating anything. The law was in place and signed by Buhari on 1st Jan 2021!! FIRS simply didn't enforce it for the foreign currency transactions the way they did for naira!

Back dating is when you sign a law today and say it should impact transactions from 2021!!

There is no case of backdating in this one.

favor914:
50 Naira 3 year charges will accumulate to 1 million Naira?

That means @ least 2 million transactions of 10 thousand Naira & above must have been carried out on that account in the last 3 years?

This your maths no jive o. For charges to be N1mln, you need 20,000 (N1,000,000 /50) transactions.

MasterJayJay:
Open a new account and abandon the old ones if the 50 naira charge from 2021 till date will amount to a large sum.

Omo, see dribble o! You sure say you no be Jay Jay Okocha?