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Nairaland Forum / Nairaland / General / Politics / No Tax Identification Number (TIN), No Bank Account - Finance Bill (23487 Views)
Public Finance Bill: 10 Things You Should Know About It / N500 To Know Your Tax Identification Number (TIN) / How To Check Your Individual TIN (tax Identification Nos) Online Using BVN/NIN (2) (3) (4)
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Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by joey150(m): 3:10pm On Dec 09, 2021 |
philip0906: This is exactly my question. How do you already pay money equivalent to your income to the government? You're indicting the government, simple!!!!! If you claim that representatives of government, collect illegal, pointless etc fees, you're clearly alluding to my point. So you should hold the government accountable and they should be the ones to clean up their mess, not hapless Nigerians. Of course, I am indicting the government here. I should hold the government responsible? People say this like it's one person's duty to do this. Like the citizens don't have a right to hold supposedly elected people to account? Like it's the job of whoever protests against the status quo. Nigerians are hapless!! Cant you see all 180 million of us flocking to churches on sunday and mosques on firday hoping Mohammed and Jesus form a superhero collaboration to rescue us from our alien enemies in government houses. We are truly in a very unhelpable situation. If an akara woman pays 500 naira to an irresponsible government who can't account for that 500 naira, how do you then convince such woman to pay 24% of her earnings, under the useless guise of An Akara woman pays 500, mainly as a cost of doing business. To her, it's not a tax levy. It's a fee she has to pay to do business in a very corrupt country. Why should she bother about who the 500 naira goes too? The government has institutionalised corruption and the citizens are abating and feeding the same system that is killing them. The point of taxes is that it hits a considerable amount of your income that FORCES you to care when an irresposible government decides to toil with what is supposed to be a chunk of your hard-earned money. It forces all of us to say, NO, we will not finance stupid government expenditure and hedonistic habits anymore. We are going to either boot you all out in 4 years, make you change or force you to resign now. [BTW, your example of 500 naira levy on 15k daily, is a crafty one. You're trying to portray the akara woman as not paying the equivalent of her income, when you know this is NOT always true. It's not me being crafty, it's the truth. Most people, especially those who aren't salary earners (A number that accounts for most of the working population) do not pay taxes that are even remotely commensurate with their earnings. You cannot convince me that a 200 naira or 500 naira levy is the same as a 15-20% income tax. Churches even arguably make more money from tithes than the government from taxes. . And in a way I think the government enjoys the fact that they can run the country on petro-dollars, because then the citizens cannot hold them accountable for anything. They basically didn't steal our money, it's oil money. Tough times ahead, Nigerians will learn the hard way. 1 Like |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by orisa37: 3:11pm On Dec 09, 2021 |
FINANCE BILL VIOLATES CAMA AND COMPANY RIGHTS. CAMA SHOULD BE REVIEWED INSTEAD. THERE'S A COMPANY LAW LEGAL CODE, THAT CODE SHOULD BE REVIEWED TOO. THIS FINANCE BILL IS RIFA-RUGA ISLAMISATION FULANISATION AND ANARCHY AND MEANT TO TRANSFER FINANCIAL CONTROL TO MACBAN. PLEASE SCRAP IT AND REVIEW ALL EXISTING LAWS. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by orisa37: 3:14pm On Dec 09, 2021 |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by orisa37: 3:19pm On Dec 09, 2021 |
funshint: MILITARY HQ JUST REPORTED THAT SOME RELEASED BOKOHARAMS ARE FIGHTING BACK. THEY ARE REASSERTING THEMSELVES. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by philip0906(m): 3:19pm On Dec 09, 2021 |
joey150:I get what you're trying to say but it's preposterous. Many of us already pay what you define as considerable amount of income, yet we can't tell what it's used for. Paying or NOT paying taxes is never the way to hold an irresponsible government accountable, that's the point. it is not crafty, it is the truth. Most people, especially those who aren't salary earners (A number that accounts for most of the working population) do not pay taxes that is commensurate with their earnings. You cannot convince me that a 200 naira or 500 naira levy is the same as a 15-20% income tax. Churches even arguably make more money from tithes than the government from taxes.Don't die on this hill, my friend. I can assure you that many small scale businesses pay anything from 20-40% of their earnings to government agencies. Step out of your house, enter a keke/bus and ask them how much they pay to NURTW on a daily basis...For many, it's up to 40% of what they earn. So don't go that sneaky route of 200 naira. The question is, 200 naira is % of what? If I earn 2.5 thousand naira daily but end up paying 500 to local council, isn't that up to 20% of my income? 1 Like |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by orisa37: 3:21pm On Dec 09, 2021 |
PrinceOfLagos: We didn't vote for them. They rigged themselves in. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by orisa37: 3:31pm On Dec 09, 2021 |
PrinceOfLagos: We didn't vote for them. They rigged themselves in by coercion. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by paskal16: 3:32pm On Dec 09, 2021 |
Vat wey una dey charge on top never do una? No work/job Economy zero Person go suffer make way for himself Una go still tax am ontop his hard earned money. Only for politicians in government to psiphon the money into their personal pockets… The cycle is truly terrible |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by bablon20(m): 3:34pm On Dec 09, 2021 |
These set if bastards won't try to to review the area whereby the banks, the agberos and d FG herself is milking the citizen dry all they are after is to drain out the last from the average Nigerians. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by joey150(m): 3:46pm On Dec 09, 2021 |
philip0906: Define this money you already pay to the government. I am asking not for argument's sake, I am asking to also know. If something like this exists I would love to know how. Don't die on this hill, my friend. I can assure you that many small scale businesses pay anything from 20-40% of their earnings to government agencies. Step out of your house, enter a keke/bus and ask them how much they pay to NURTW on a daily basis...For many, it's up to 40% of what they earn. So don't go that sneaky route of 200 naira. The question is, 200 naira is % of what? If I earn 2.5 thousand naira daily but end up paying 500 to local council, isn't that up to 20% of my income?I told you initially, that I will not classify money paid illegally, but somehow endorsed by the government as "income tax." Call it what you will, but it simply isn't tax. Call it corruption or thuggery levy, but it's not an income tax. You can assure me? of course, you can't assure me that most small business people pay income taxes. Because Only about 22% of Nigerians officially pay taxes (A huge chunk of which are salary earners and those employed by the government). I pay taxes and so I care. I look at my payslip and I cringe. Because all that money is mostly financing the lifestyle of flamboyant and corrupt government officials. Now, I wish 180 million Nigerians also felt the same way. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 3:51pm On Dec 09, 2021 |
Easy5265: Where is the backup for your data that Oil makes up the greater part of Nigeria GDP? That is very wrong, oil is less than 9% of Nigeria GDP, Services and Agriculture are each far bigger than oil. Tax the Nigeria $465bn like SA tax their $390b or Egypt tax $320b. You cant collect income tax from a person who has not earned. Once you earn above the threshold you must pay even if it is 100 naira monthly. Your noise about poor people only helps those who should pay $100m tax to easily escape because you want to protect 100 naira from a low wage earner. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by philip0906(m): 3:54pm On Dec 09, 2021 |
joey150:I have a side hustle that pays tax, I also pay income tax as a salary earner. I told you initially, that I will not classify money paid illegally, but somehow endorsed by the government as "income tax." Call it what you will, but it simply isn't tax. Call it corruption or thuggery levy, but it's not an income tax.It is tax. Call it whatever, it is tax. Simple definition of tax tells me that those monies, under whatever guise, is tax. Our fore fathers paid taxes on their income/goods/wares sold before the advent of economic textbooks that taught you these theories you want to die on, maybe you'll argue that it was never tax. You can assure me? of course, you can't assure me that most small business people pay income taxes. Because Only about 22% of Nigerians officially pay taxes (A huge chunk of which are salary earners and those employed by the government).Only an ediot expects more than that figure to pay tax, in the poverty capital of the world. There's a reason why we wear that badge. If the government decides to look away from the taxes that their own agency already collects from the akara seller and the tricycle rider, sensible people know that anything on top of that, amounts to double taxation. The onus then is for the government to streamline their tax processes...That's not on us I pay taxes and so I care. I look at my payslip and I cringe. Because all that money is mostly financing the lifestyle of flamboyant and corrupt government officials. Now, I wish 180 million Nigerians also felt the same way.Good for you. So let's see how your "caring" changes anything. 1 Like |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 3:56pm On Dec 09, 2021 |
abbeyfel: Ghana pays 12.5% VAT, was 15% till recently, UK pays 17.5% sales tax. Nigeria pays 7.5% was 5 till last year. How can 7.5% be more than 12.5% Ask anyone living in Ghana, you pay 8% tax on your house rent, in Nigeria its 0%. You pay council tax, sales tax, road tax, income tax etc in UK. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Poleski: 4:00pm On Dec 09, 2021 |
These corrupt idiots are continuing to make life in this zoo of a country a living hell! |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by joey150(m): 4:08pm On Dec 09, 2021 |
philip0906: You pay taxes on your side hustle and salary job, how is that a bad thing? Aren't you supposed to pay taxes? Is the said taxes your entire earnings? I wanted to get to the bottom of that allegation you made, and I am not surprised that there's zero truth to it. It is tax. Call it whatever, it is tax. Simple definition of tax tells me that those monies, under whatever guise, is tax. Our fore fathers paid taxes on their income/goods/wares sold before the advent of economic textbooks that taught you these theories you want to die on, maybe you'll argue that it was never tax. Haha. Nothing is ever on Nigerians. Well, except poverty which we seem to be wearing with pride these days. I am sure the bribe and 'egunje' we pay to policemen are security votes and taxes too, Good for you. So let's see how your "caring" changes anything. Until it takes more than one person to 'care,' Nigeria will remain the poverty capital of the world. People deserve the leaders they get. You think it's a mystery that Buhari ruled us for eight years and then Tinubu is gearing up to continue? Nah. We are all hapless. You have a great evening sire. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Str8talk21: 4:12pm On Dec 09, 2021 |
It will never be well for any individual & group of persons that voted in this Jihadist of a president, Muhammed Buhari. It is easy for them to tax owners of bank account, but can't send their useless #5,000 stipend to owners of bank account because most Northerners of Muslim extraction don't have bank accounts. Meaning that, he wants to steal from d Southern Nigeria and part of middle-belt region to sustain d leeches in the North. God will punish dis administration in Jesus name. 1 Like |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by mbos: 4:18pm On Dec 09, 2021 |
COMPAQ:that goes to show how brainless people can be. a billion naira transaction can go wit a loss.... in biz you do not expect profit all the . the transaction may not be for profit,,,,,,,i.e NGOs |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by philip0906(m): 4:19pm On Dec 09, 2021 |
joey150:Are you okay like this? Lmao!!! My post clearly makes reference to Nigerians (both in the informal & formal sector) in the context of taxing proportional to their earnings. You asked a personal question, I answered but you're saying something else. Who ever said TAXES your entire earnings? You well so? Loool Haha. Nothing is ever on Nigerians. Well, except poverty which we seem to be wearing with pride these days. I am sure the bribe and 'egunje' we pay to policemen are security votes and taxes too,Yes oh! Blame the already hapless citizens who have been stretched to the limits. Blame them until you've drained them the fvck out. Until it takes more than one person to 'care,' Nigeria will remain the poverty capital of the world. People deserve the leaders they get. You think it's a mystery that Buhari ruled us for eight years and then Tinubu is gearing up to continue? Nah. We are all hapless.The fact that you are trying to directly draw a correlation with paying taxes and holding leaders accountable, doesn't paint you as being too intelligent. Unemployment rate is at double digits and about to gear up to 40% (official stats. This is way higher) but you want them to pay tax. Lol |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by whalley676: 4:35pm On Dec 09, 2021 |
My question : Who are eligible to pay tax in Nigeria ? Does this tax system applicable to unemployed youths, aged people etc. If yes, how will the system measure their income?? |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Hkff: 4:59pm On Dec 09, 2021 |
Criminals Are they paying their own tax useless opportunist ruling us |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by joey150(m): 5:00pm On Dec 09, 2021 |
philip0906: You said you pay nearly all your income to the government. I don't have the energy to go back to the quote. I kept pushing for you to explain what that meant. Alas, you never did. The concept of taxation to increase accountability is simple. if someone directly funds or finances something, they tend to care and pay more attention to it. It's not rocket science. If I build a house with my money, I will ensure that my tenants don't put my house in danger. If I pay my mechanic to fix my car, I will ensure he has used the money I gave him to buy the required parts he charged me for. etc. I care about these things because my money is involved. If most citizens pay taxes, they will ensure or at least try to ensure that the roads, schools, hospitals, power, etc that their money was supposed to finance is built. This is common sense. We've gone back and forth to explain a simple concept. People care where their money goes. Tell Nigerians somebody stole 100 Billion naira of public funds and they don't care. Why should they? Have they contributed directly to the 100 billion, NO! Lol. I am tired of explaining. Perhaps I should refer you to books if you still don't get it. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 5:10pm On Dec 09, 2021 |
CSTRR: Congratulations on being a compliant tax payer. I'm too and have being consistent for the past 2 decades. 10% of my earnings from share dividends goes to the FG. I also buy vatable goods and services. However we belong to a minority tribe in Nigeria. Data shows only about 13% of working class Nigerians are registered to pay tax. Your guess is as good as mine on the number these registered whose tax deductions actually makes it to govt coffers. In Lagos state, data shows only 700,000 workers are on the tax database, where are the millions of other workers? These are the millions that will clogg the few roads built for 700,000 workers and family. They contribute nothing but will overwhelm the few hospitals making doctors and nurses overstretched and ineffective. They are the millions that will collect 2k and vote thieves because it is not their money getting stolen. If a vulcanizer earns 1m a year and pays 50k income tax, that's 200k every 4 years, do you think 2k or 5k will swing his votes? Or religion or zone of the candidate will be his primary concern? He will want good value from the 200k he has paid and chose wisely. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 5:25pm On Dec 09, 2021 |
philip0906: ALL the people I know running big private business don't pay any tax. Some are printers getting contracts worth millions or hundreds of thousands daily. Some run cold room services, some are builders. Apart from a few who get contracts from govt agencies or reputable private companies where they must pay VAT, ALL of them pay zero income tax to their state govt. Some make millions from each job done within a month or 2. Some turnover goods worth billions and have bank balance in billions. Go to Lagos island market. They don't even know what income tax is. But they all use the few available public facilities. These are the people we are asking to pay their fair share of the burden of running a modern state not the very poor or unemployed. That's why smaller economies like SA and Egypt have $130b and $90b govt revenue respectively which can be invested in power projects, medical, education, roads, railway while we are struggling to scrape $25b every year. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 5:29pm On Dec 09, 2021 |
. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 5:33pm On Dec 09, 2021 |
PetroDolla2020: Ghana economy is tiny beside Nigeria. After removing their GDP from that of Nigeria we will still be number 1 in Africa still bigger than South Africa. Now imagine that tiny Ghana having a revenue more than half of that of Nigeria? Yet our economy is more than 6 times or theirs. Shows our tax system is very poor and grossly under performing. It's not like the average Ghanian is so much richer than the average Nigerian. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 5:48pm On Dec 09, 2021 |
abbeyfel: Paying taxes does not remove the need for good governance. Conversely, paying taxes is an adjutant for more responsible governance because I now know the people pay for the cost of governance including the salary of all politicians. A situation where 80-90% of what a state income is coming from Abuja or Oil, why do I need to care what the people think? I better be in the good books of the president and oil company executives. When election comes I set aside 5k for like 200,000 voters who don't pay tax. Mere 1bn naira to give me the right to spend 250bn as I like every year. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 6:01pm On Dec 09, 2021 |
lexy2014: Most people earning in Nigeria don't pay income tax. How can they pay without a TIN or being registered? Only VAT that is difficult to escape cut across partly because not all goods and services in the market charge VAT. I dont know anyone in business who pays income tax dutifully, do you know anyone? They may be making millions but whenever pushed to the wall and in need of tax clearance, they will 15k and are covered for the year |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by lexy2014: 6:06pm On Dec 09, 2021 |
Ovamboland: ok...how does this relate with what i said? |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 6:09pm On Dec 09, 2021 |
ezechi24: Tell us for how many years of that 61 years did government in Nigeria run on taxes paid by the people. For your information oil has been the chief income for about 50 years and politicians will be more loyal to Oil executives and interests than the people who mostly pay nothing. He who pays the piper dictates the tune holds here. |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Evaloyal2J(f): 6:24pm On Dec 09, 2021 |
Afamed:you are irredeemable. Just look at your display of ignorance at this glaring gross wickedness. It's remaining to skim the masses alive before you get sense |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Wizzzzmike: 6:39pm On Dec 09, 2021 |
Ovamboland: You Nigerians talk too much lol... Yet ur the poverty capital of the world. Y'all starving to death |
Re: No Tax Identification Number (TIN), No Bank Account - Finance Bill by Ovamboland(m): 6:50pm On Dec 09, 2021 |
joey150: Very clearly explained but it seems simple concept is difficult to teach many Nigerians. Their emotions, biases and fears easily get in the way. Many don't understand there is no perfect system anywhere in the world. 100% tax compliance does not mean we will have perfect governance and no more need for vigilance by ordinary citizens. |
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