Every investor is a potential jijoist ... This Caesar is coming for blood , people will run away oh ... Lol

emmanuelewumi:



Give unto Caesar what is Caesar's.

It will affect JIjoists not investors,

Shalom428:
Every investor is a potential jijoist ... This Caesar is coming for blood , people will run away oh ... Lol

Paying 10% on 80% profit made in less than a year is not asking for too much

emmanuelewumi:



Paying 10% on 80% profit made in less than a year is not asking for too much

💯

GeeKudi:


I receive email every year to declare my income and pat tax on taxable incomes earned in my second home. I said taxable income because not all incomes are taxable. As far as Nigeria is concerned, capital gains on the nse is not taxable.

https://www.firs.gov.ng/individual-income-tax

https://old.firs.gov.ng/wp-content/uploads/2022/04/Finance-Act-2021-Gazetted.pdf

https://oakelegal.com/tax-implications-of-disposal-of-shares-in-nigeria/

Please refer to the above links. However, BAT's aim is to bring our tax regime in line with global standards. He won't be enforcing tax laws as is.

Disclaimer - All personal opinion on where I think BAT is headed.

It's not too much if the system works. It's not too much if the tax will be put to work and not embezzled. The government only wants to expand the tax bracket so as to have more money for their lavish lifestyle. Senators SUVs , Presidential jets and so on. It is never in the interest of the populace

And how many companies can give 80% in less than a year on NSE ? And if you are planning to be cashing out in less than a year , you are a potential jijoist. An average investor eyes 5 - 10 years

Nigeria is not stable enough for this kind of policy. Like I said earlier, it will collapse the market cos their will be mass exodus of investors.

emmanuelewumi:



Paying 10% on 80% profit made in less than a year is not asking for too much

emmanuelewumi:



Paying 10% on 80% profit made in less than a year is not asking for too much

And how do you know it would be 10%. Even the 10% is much

GeeKudi:

That exemption was removed in 2022?

emmanuelewumi:



Give unto Caesar what is Caesar's.

It will affect JIjoists not investors,

When FG gave states billions for palliatives
They forget BVN and Tax ID...
Ceasar should also do his part
Before we can give ...

Agbalowomeri:


And how do you know it would be 10%. Even the 10% is much

It can be as high as 30% for short term capital gains.

If you turned N1 million to N10 million in less than a year, that should be a profit of 900% and a gain of N9 million the capital gain tax might be more than 10%.


My opinion though

Shalom428:
It's not too much if the system works. It's not too much if the tax will be put to work and not embezzled. The government only wants to expand the tax bracket so as to have more money for their lavish lifestyle. Senators SUVs , Presidential jets and so on. It is never in the interest of the populace

And how many companies can give 80% in less than a year on NSE ? And if you are planning to be cashing out in less than a year , you are a potential jijoist. An average investor eyes 5 - 10 years

Nigeria is not stable enough for this kind of policy. Like I said earlier, it will collapse the market cos their will be mass exodus of investors.

The market will not collapse because of capital gain tax.

https://doclib.ngxgroup.com/Financial_NewsDocs/Deap_Capital_Management_and_Trust_Plc_-_AGM_Resolution.pdf

DeapCapital

N2.5B being money owed to Non-bank creditors was converted to shares at N1.69 which explains the SP run from N1 recently.

Management now seeking to further recapitalise the business. They will also be releasing their 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023 on the NGX following approval by members. So Oando is not bad afterall

Disclaimer - Not a recommendation to buy or sell.

emmanuelewumi:



Paying 10% on 80% profit made in less than a year is not asking for too much

The 80% has never been guaranteed .whr you see the 80%
.

emmanuelewumi:



It can be as high as 30% for short term capital gains.

If you turned N1 million to N10 million in less than a year, that should be a profit of 900% and a gain of N9 million the capital gain tax might be more than 10%.


My opinion though

Ideally, NGX "school fees" becomes less of a worry too as you will have to deduct that from your gains to determine your net gain for the year. There will be a limit to how far back we can go i.e prior years that can be considered.

Disclaimer - Implementation may be completely different to my postulations.

Let's continue to hope for the best. May the worse never happen to us.

pluto09:


The market will not collapse because of capital gain tax.

I heard uba dey run this for their customers ' week

The deregulation of the downstream petroleum sector is gradually taking shape.

Hope they are follow through as there might be civil unrest in the coming days.

Also Dangote needs to tell us how much he is selling a litre of petrol to independent marketers.

NGX police never come online to see OANDO mention

Omooloriredade:
https://doclib.ngxgroup.com/Financial_NewsDocs/Deap_Capital_Management_and_Trust_Plc_-_AGM_Resolution.pdf

DeapCapital

N2.5B being money owed to Non-bank creditors was converted to shares at N1.69 which explains the SP run from N1 recently.

Management now seeking to further recapitalise the business. They will also be releasing their 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023 on the NGX following approval by members. So Oando is not bad afterall

Disclaimer - Not a recommendation to buy or sell.

designking:
The deregulation of the downstream petroleum sector is gradually taking shape.

Hope they are follow through as there might be civil unrest in the coming days.

Also Dangote needs to tell us how much he is selling a litre of petrol to independent marketers.

Who go do the unrest? Abi na Twitter actions you mean?

Conflicting reports, we just watch and see now. They’re trying their best for Monday

GeeKudi:


No longer Monday? Meaning we have more days to raise funds?

emmanuelewumi:



Give unto Caesar what is Caesar's.

It will affect JIjoists not investors,

Stop the vawulence joor... Is it your JIJO?

Even stamp duty is a form of tax.

Why I didn't comment is that, probably they are trying to synchronise all these taxes. Which developed country is collecting multiple/duplicate taxes like these?

Agbalowomeri:


VAT is tax na

megawealth01:
NGX police never come online to see OANDO mention

Na for Oando them dey get power to form NGX police, all their veins go dey rise like something, including the one for their.....!
Let them come and see company wey never release results for 10 years!

GTCO sighted @50+
Maybe some people already saw Q3

KarlTom:
Not really.
It's worth 1Malt + 1 Meatpie...

😂😂 at least to console myself

Omooloriredade:
https://doclib.ngxgroup.com/Financial_NewsDocs/Deap_Capital_Management_and_Trust_Plc_-_AGM_Resolution.pdf

DeapCapital

N2.5B being money owed to Non-bank creditors was converted to shares at N1.69 which explains the SP run from N1 recently.

Management now seeking to further recapitalise the business. They will also be releasing their 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023 on the NGX following approval by members. So Oando is not bad afterall

Disclaimer - Not a recommendation to buy or sell.

Na for oando them dey get power to form NGX police, all their veins go dey rise like something, including the one for their.....!
Let them come and see company wey never release results for 10 years!

They should simply synchronise all these and make life easy. 10% tax, xx% VAT, ××% sms, xx% notification, xx% stamp duty, etc only gives room for corruption.

Only two or maximum of three deductions should be allowed; commission (for the broker/company), tax to government. Simple!

ositadima1:


Is VAT on commission not a tax? Capital gains realized from selling stocks are subject to a flat 10% tax paid to the FIRS. So, have you been remitting the 10% capital gains tax to the FIRS? Please don't tell me you are a criminal.

Omooloriredade:
https://doclib.ngxgroup.com/Financial_NewsDocs/Deap_Capital_Management_and_Trust_Plc_-_AGM_Resolution.pdf

DeapCapital

N2.5B being money owed to Non-bank creditors was converted to shares at N1.69 which explains the SP run from N1 recently.

Management now seeking to further recapitalise the business. They will also be releasing their 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023 on the NGX following approval by members. So Oando is not bad afterall

All these results have been released up to 2023.
Think AGM just ratified it, like just formal closeup or so.

VAWULENCE PLC

mikeapollo:


Na for Oando them dey get power to form NGX police, all their veins go dey rise like something, including the one for their.....!
Let them come and see company wey never release results for 10 years!

olig:
Even stamp duty is a form of tax.

Why I didn't comment is that, probably they are trying to synchronise all these taxes. Which developed country is collecting multiple/duplicate taxes like these?

Nigeria can set the pace

yMcy56:
GTCO sighted @50+
Maybe some people already saw Q3

When GT move, na so you go see Zenith trying to shake body...... follow follow something..

You don't need to even see the result to know that eps should cross 50 by this q3. Just imagine eps being above share price

Mpeace:
You don't need to even see the result to know that eps should cross 50 by this q3. Just imagine eps being above share price

Those that wanted to drag us down failed woefully... AGBAJE don win big time. We don win wella

Here, it is asking for too much.

Why?

Because, if by tomorrow, I lose all my investments and and become incapacitated, no government will look my side. Unlike those you are comparing us with (the western world). No social structure/benefit here.

More so, my problem is making things complex. Simplify the tax system of Nigeria, and don't make it complex. And that is part of the problems with crypto. Today you say you ban it, tomorrow you warn banks against it, next you are asking for tax etc.

emmanuelewumi:



Paying 10% on 80% profit made in less than a year is not asking for too much