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Nairaland Forum / Nairaland / General / Politics / Hardship: FG Announces Move To Tax More Nigerians (17898 Views)
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Hardship: FG Announces Move To Tax More Nigerians by adenigga(m): 6:49am On Sep 26 |
The Nigerian government has announced a plan to tax more Nigerians and Businesses despite economic hardship.Source: https://dailypost.ng/Hardship-Nigerian-govt-announces-move-to-tax-more-Nigerians 6 Likes
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Re: Hardship: FG Announces Move To Tax More Nigerians by Viscuz: 6:51am On Sep 26 |
Drain the helinues to oblivion Fools needs to know that thier master will continue making them queue for cup of rice constantly 211 Likes 22 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by helinues: 6:51am On Sep 26 |
Toh Reality dawning. If you don't want to borrow unnecessarily, then it's time to raise the tax Modified: Make una no attack my comments , suggest another means of generating new income( projects money , expenditures) without taxing and borrowing 42 Likes 4 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by stewiepeter: 6:53am On Sep 26 |
Widen the tax net, reduce their purchasing power. You think he was joking. 164 Likes 11 Shares
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Re: Hardship: FG Announces Move To Tax More Nigerians by F22RAPTOR(m): 6:54am On Sep 26 |
That's what lagosians experience on a daily. Welcome to the era of the tax master... 119 Likes 8 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by HenryThegreat1(m): 6:54am On Sep 26 |
Terrible, disaster, devilish and wicked people in government. 104 Likes 8 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by slaawomirr: 7:14am On Sep 26 |
Damnnn niggar Isoright 10 Likes 2 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by hisexcellency34: 7:14am On Sep 26 |
Tinubu may end up being disgraced out of office 115 Likes 12 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by malali: 7:14am On Sep 26 |
The government’s plan to increase taxes under the “Tax Identification Consolidation and Collaboration (TICC)” initiative amid soaring inflation (32.15%) and a crippling cost of living is deeply misguided. Introducing more taxes on already struggling Nigerians and businesses will only worsen economic hardship, stifle small enterprises, and drive more people into poverty. Rather than addressing Nigeria’s real issues—such as corruption and wasteful spending—the government is opting to squeeze the people further. This tax policy shift, following the recent denial of a VAT hike, reveals a government out of touch with its citizens’ plight. The focus should be on reforming the fiscal system and creating a sustainable business environment, not draining already overburdened pockets. If President Tinubu truly wants inclusive growth, he needs to focus on easing rather than exacerbating the economic pressure on Nigerians. 13 Likes 2 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by Dogalmighty17: 7:14am On Sep 26 |
They don't call him T-Pain for nothing. 98 Likes 6 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by nairalanda1(m): 7:14am On Sep 26 |
(I know people will call agbado, but here goes). Here are the cold fact behind the decision to tax more Nigerians...note the headline...more NIgerians 1. Tax revenues amount for 20% of government revenue, the rest is from oil. While this is better than say 1996, when it was 96% of revenue comming from oil, it is still too low. 2. Oil revenues are very low for a nation our size. We produce as much as Libya does, yet LIbya, even in the midst of war, can afford goodies because they are 9 million, while we are 200-250 million, if not more What we are doing is like a man with an income of 500000 naira and 15 children trying to do the same thing as a man with the same income but just 2 children. Na debt go catch you in minutes. 3. As at 2019, government was getting tax from about 30% of the taxable population. 70% of the population does not pay taxes to the state and federal government at all. Also, if your income is below a certain threshold, you are exempt from taxes 4. Tax to gdp ratio is 10%. That is low for a nation our size. Add the fact that gdp is even very very low. 5. We need oil price to be above 130 per barrel before we can earn enough money for a balanced budget. Or to be fair, at least around 100 dollars per barrel. Since 2014, April, oil has been below 100 dollars per barrel, except for a brief period in 2021-22. Thus we no longer earn enough from oil, nor have we ever, except for the 1973-82, and 2008-14, earned enough from oil. . 6. Our economy is so poorly diversified (and APC is to blame here), that we no longer earn the money we used to earn from agric and mining...plus it is going to take us years to get back to where we were before, and we ar eup against countries like the US, Brazil and Indonesia whose agric relies on large scale modern farming, which is why they can export tonnes of food. Even thailand, we cannot compete with them re rice production, because we don't have the climate for it. 7. We over import, and lose a lot of forex, nuff said. 8. We also have a hefty debt. Debt eats 68% of our revenue, and as at May 2023, it was over 90%...that is why TInubu went mad and said subsidy is gone, because we were in deep soup then. Even then, he has brought subsidy back, so that debt service may even grow. 9. Most states in NIgeria have poor tax to gdp ratio....as low as 2% . As a result, all of them rely on Abuja allocations for survival. Only a few states can survive on their IGR, and even then, the IGR Is still smaller than it should be. 10. IMF, won't give us any loans, and yes, we are going to rely on IMF Loans for the foreseaable future....until we end up reforming our tax system, and collecting more tax. That is what Sri Lanka and Pakistan are going through. We better wake up people, and our government should stop looting and stealing money too....and make sane economic decisions....but with that taken into account, our tax revenue is scanty, and it needs improving. Modified For all those succubi who would gather to mock and call me defender of evil... In 2018, 19 million Nigerians paid into federal or state coffers, according to government data. BBC 2019 ARTICLE Also, saying that we don't earn enough revenue in tax is not the same thing as saying that 1. APC should not be held to account...they blddy well should, and yes they are wrong. 2. Tinubu is right to spend money on plane and yacht....he was wrong 3. APC government is corruption free...they are not, and they need to be held to account at all times. 4. APC is wise and running our country well...they are not, and they need to stop keeping our country on oil 54 Likes 6 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by Beremx(f): 7:15am On Sep 26 |
Everybody must pay tax. BATIDIOTs cannot escape it. Everybody go collect 39 Likes 3 Shares
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Re: Hardship: FG Announces Move To Tax More Nigerians by whytediamond(m): 7:15am On Sep 26 |
Unaneva C. Enitin 11 Likes |
Re: Hardship: FG Announces Move To Tax More Nigerians by emmanuel596(m): 7:16am On Sep 26 |
Widen the tax net 1 Like |
Re: Hardship: FG Announces Move To Tax More Nigerians by brain54(m): 7:16am On Sep 26 |
They will soon start taxing the dead... Lazy government. Tinubu is a slave driver! 19 Likes 1 Share |
Re: Hardship: FG Announces Move To Tax More Nigerians by sweetjohn(m): 7:16am On Sep 26 |
The only thing in the skull of Yoruba politician are tax upon tax. Criminals. 49 Likes 3 Shares |
Re: Hardship: FG Announces Move To Tax More Nigerians by Monzuur(m): 7:16am On Sep 26 |
Jagaban Kareem 😂 😂 😂 4 Likes |
Re: Hardship: FG Announces Move To Tax More Nigerians by Dcaliphate(m): 7:17am On Sep 26 |
T-pain on the regular beat. I think the man is on drugs, myself. 10 Likes |
Re: Hardship: FG Announces Move To Tax More Nigerians by MEGAWATCH: 7:17am On Sep 26 |
stewiepeter: This my late brother picture you dey carry up and down because of this useless Nigerian issues, NA GOD GO JUDGE YOU.
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Re: Hardship: FG Announces Move To Tax More Nigerians by kalvoken(m): 7:17am On Sep 26 |
Re: Hardship: FG Announces Move To Tax More Nigerians by lonecatt(m): 7:17am On Sep 26 |
Cut government expenses and wastages then we start taking you serious. 12 Likes 1 Share |
Re: Hardship: FG Announces Move To Tax More Nigerians by tojahh(m): 7:18am On Sep 26 |
Someone up there said if you don't want to borrow next thing is to tax the citizens to poverty What happened to cutting down cost of governance? What happened to retrieving stolen funds from corrupt politicians and injecting it to the economy via education, social amenities or even crude refinery? The amount of money stolen and looted by just 20 persons in Nigeria can build 3 refineries from scratch! I can't even remember the last time we see a running tap from waterboard?! But there's a ministry with a minister collecting allocation for such ministry. We never ready... T-Pain, gbe wa de be 29 Likes 1 Share
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Re: Hardship: FG Announces Move To Tax More Nigerians by kalvoken(m): 7:18am On Sep 26 |
3 Likes |
Re: Hardship: FG Announces Move To Tax More Nigerians by Mindlog: 7:18am On Sep 26 |
Reduce cost of governance and block financial loopholes in government. 11 Likes |
Re: Hardship: FG Announces Move To Tax More Nigerians by Confirm4real(m): 7:18am On Sep 26 |
Gwo Gwo Ngwo administration After Emilokan administration we go know how many agbadorians go still stand on his mandate... 16 Likes 1 Share |
Re: Hardship: FG Announces Move To Tax More Nigerians by ojinuocheibi(m): 7:18am On Sep 26 |
stewiepeter:you remember when he said that during the campaign and we laughed, he is really doing it now. He has finished with the reduction of the people purchasing power. 11 Likes |
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