Who be this one?

Abeg go rest

Vadese1:
Save your energy for another day. Stop defending nonsense. This is not the right policy at this time.

Nawa ooo 😡

Can you give example of informal tax?

Teenaira:


I think you are right in your thinking. We must start looking at adding value to natural resources and raw materials to derive real values. However, his proposal looks good too. VAT is purely a consumption tax so, the more you consume, the more you pay. Who are the big consumers ? Obviously the rich and unfortunately a lot of them may not be paying personal income tax or they may have a means of playing around with Personal Income tax. So if the recommendation is implemented, we might end up taxing the rich more which is quite good and then reduce the tax burden on the middle class and low income earners. Even corporate tax is recommended to go down. The real challenge is informal taxes on the poor and corporate bodies. How is government going to get these guys to stop their nefarious activity which has been a part of us for ages ?

Can you give a clear summary of what the guy is trying to say. Just a brief summary.

I don't quite understand his message.

Segzy19:
Not defending the Tinubu government but I can boldly tell you that this piece of news here is just sensational and not the whole news...

I watched this guy explained everything on channels TV, Politics Today live yesterday.

They also plan to give a lot of tax exemptions to various sets of people and sectors too... No tax of raw foods, health, education ... They also plan to exempt certain people who are low earners (certain salary grades and levels ) from tax but 10% vat will surely apply to whatever you buy from a 5-star hotel.... Going to a 5-star hotel shows that you are wealthy and can afford, then you should be able to pay tax... Local government too will partake of the tax revenue.

I listened to him and he made a lot of sense.

But this poster of this news has just decided to pick a portion of the news that suits his/her emotions and puts it up here....

Here is the link below... (Copy and paste into browser)
Watch from 12 minutes into the video


https://www.youtube.com/watch?v=YkCK6eX659U?si=Bq5NfVTrzKgkq-27

This was tinubu's only campaign promise that he is fulfilling now. Widen the Tax net. Widen it more and more.

1Hover1:
The funny thing is that most people commenting here have not and did not watch the interview before commenting.

If they did, they would see that VAT is not increasing for EVERYTHING, in fact, essential items bordering on food, health, housing, education and transport will have VAT removed totally (which is the area that affects the greater number of Nigerians). An example he gave was that, how many Nigerians do buy a new car...these are the kind of items that will see VAT rise to 10%.

Companies with earnings bellow 50 million will be able to claim back VAT expenses.

Sure it's still a proposal which came about after consultations with interest groups. People can still make thir contributions before it is passed.

Thanks for the explanations.

Weaponization of hardship & poverty

madridguy:
When we can hardly buy mere toiletries or even eat conveniently?

Is this madness or wickedness?

We? You and who, pls be specific, as some of us are still balling hard....regardless.

All this money will still be squandered at last.Is like they want to use starvation and hunger to cut down the population of nigeria.

iwaeda:


https://dailytrust.com/were-proposing-law-to-increase-vat-to-10-presidential-tax-cmtee/

The problem in the world is severe madness,, since time in memorial price increase has further aggravated situation.
So also is tax increase.

Segzy19:
Not defending the Tinubu government but I can boldly tell you that this piece of news here is just sensational and not the whole news...

I watched this guy explained everything on channels TV, Politics Today live yesterday.

They also plan to give a lot of tax exemptions to various sets of people and sectors too... No tax of raw foods, health, education ... They also plan to exempt certain people who are low earners (certain salary grades and levels ) from tax but 10% vat will surely apply to whatever you buy from a 5-star hotel.... Going to a 5-star hotel shows that you are wealthy and can afford, then you should be able to pay tax... Local government too will partake of the tax revenue.

I listened to him and he made a lot of sense.

But this poster of this news has just decided to pick a portion of the news that suits his/her emotions and puts it up here....

Here is the link below... (Copy and paste into browser)
Watch from 12 minutes into the video


https://www.youtube.com/watch?v=YkCK6eX659U?si=Bq5NfVTrzKgkq-27

why won’t he make sense to an agbado boy.

Every nonsense from the most useless government in the history of Nigeria makes sense to Una.

Una problem is that you want to bring everyone to your level.

Agbadorians like you are mostly Church rats .

God forbid bad thing.

Are you done?
Ok! You can now sit down

cucumbar:
why won’t he make sense to an agbado boy.

Every nonsense from the most useless government in the history of Nigeria makes sense to Una.

Una problem is that you want to bring everyone to your level.

Agbadorians like you are mostly Church rats .

God forbid bad thing.

Believe me Tinubu is not interested in second term, if he make attempt to run for second term he will be heavily disgrace

Meanwhile, na wetin the man talk be this o. Media sha

madridguy:
When we can hardly buy mere toiletries or even eat conveniently?

Is this madness or wickedness?

Firstly, your head is not correct for using we here. You and that your stomach infrastructure fellow helinues. Guess you are coming to your senses gradually. Rederede.

What do you mean by company will be able to claim their VAT back? Please stop misinforming people, how can company claim VAT back when it is not their money or expenses? VAT is a form of tax,sellers of goods and services collect form their customers on behalf of government. E.g if a company is selling their products #100 and vat rate is 10% the company will charge their customers #110 and pay government the #10 ontop. There is no way the company can claim it back becauseit is not their money.

1Hover1:
The thing is that most people commenting here have not and did not watch the interview before commenting.

If they did, they would see that VAT is not increasing for EVERYTHING, in fact, essential items bordering on food, health, housing, education and transport will have VAT removed totally (which is the area that affects the greater number of Nigerians). An example he gave was that, how many Nigerians do buy a new car...these are the kind of items that will see VAT rise to 10%.

Companies with earnings bellow 50 million will be able to claim back VAT expenses.

Sure it's still a proposal which came about after consultations with interest groups. People can still make thir contributions before it is passed.

Is that not the only thing you APC people know how to do? Increasing taxes, taxing d hell out of the people and looting the money made out of the tax. Pls increase the tax to 50%. We must survive u apc wicked people. I pity those that supports this evil party.

iwaeda:


https://dailytrust.com/were-proposing-law-to-increase-vat-to-10-presidential-tax-cmtee/

God will save us from inflated Tinubu regime. All is well

“Companies earning less than 50m will be able to claim back vat expenses”. Is that not funny to u? Does that not sound funny to u? Guy, u failed it in that area. Correct yourself. Evidently, u don’t know what VAT means.

1Hover1:
The funny thing is that most people commenting here have not and did not watch the interview before commenting.

If they did, they would see that VAT is not increasing for EVERYTHING, in fact, essential items bordering on food, health, housing, education and transport will have VAT removed totally (which is the area that affects the greater number of Nigerians). An example he gave was that, how many Nigerians do buy a new car...these are the kind of items that will see VAT rise to 10%.

Companies with earnings bellow 50 million will be able to claim back VAT expenses.

Sure it's still a proposal which came about after consultations with interest groups. People can still make thir contributions before it is passed.

10% too small, 40% will just be fine

iwaeda:


https://dailytrust.com/were-proposing-law-to-increase-vat-to-10-presidential-tax-cmtee/

Yessssssssss

Please increase it..
We can make it 14.97%

iwaeda:
We told you, he is only a tax collector

People really under-estimated Tinubu's penchant for looting to perpetuate himself and his cronies in power for the foreseeable future like he has done in Lagos since 1999.

Future elections need to be bought and the money must come from somewhere innit ?

APC members and supporters are exempted.
I envy them 🙂

Tinubu lacks ideas
Taxation with no service delivery

Very wicked people. Everyone punishing or making life difficult for Nigerians with their anti people policies and all those who are giving advice to inflict more pains on Nigerians will begin to die miserably and in plane crash in Jesus name.

madridguy:
When we can hardly buy mere toiletries or even eat conveniently?

Is this madness or wickedness?

Maybe your head need to reset first foool.

Good2go1:
What do you mean by company will be able to claim their VAT back? Please stop misinforming people, how can company claim VAT back when it is not their money or expenses? VAT is a form of tax,sellers of goods and services collect form their customers on behalf of government. E.g if a company is selling their products #100 and vat rate is 10% the company will charge their customers #110 and pay government the #10 ontop. There is no way the company can claim it back becauseit is not their money.

Thanks for the correction, there was no intention to mislead, it was written in error. WHT was the tax intended to be written, in addition to state that companies earning below 50million in turnover will be largely exempted from most of the taxes (VAT, WHT, Income tax etc).

I have modified the comment to show that.

cjfavour:
“Companies earning less than 50m will be able to claim back vat expenses”. Is that not funny to u? Does that not sound funny to u? Guy, u failed it in that area. Correct yourself. Evidently, u don’t know what VAT means.

I wrote VAT in error and have now modified the comment to "WHT" which was my original intention. I have also expanded the phrase to include small companies (with 50million below as turnover) being exempted from most of the taxes including VAT.

Increasing tax is not the major problem here..

The main problem here is the embezzlement of the proceeds..

If Nigerians complain now, Bayo-Onanuga will start releasing series of statements, and listing out countries that have VAT of 10% and above, 15% and above, 20% and above, and so on..
He won't be telling us their GDPs-Per-Capita, or their Minimum Wage, or their quality of life.

Who is this 1 again? Amid all this hardship ur trying to increase VAT? na waoooo

Government who don't know their right from their left. Nigerians will survive APC government from the pit of hell whose mandet is to punish Nigerians

Nigerians are in big trouble.Thieves have taken over government. Rest In Peace Nigeria.