Stealing 25% from hardworking Nigerians when Yahaya Bello is still 'at large' is just c r a z y.

If you earn around N105-120m, better downgrade your earning to N99.5m.

Dialpad:
Is that not too much, is taxing the citizens the only way government can generate revenue?

Sounds to me like a lazy approach.

It was in the news today that Nigerian have lithium sold for dirt cheap by locals to Chinese.

Why can't the government tap into other areas that can generate revenue but requires work.

Outsourcing
Mineral resources
Agriculture ETC

For someone providing his own electricity, medical bills, tuition, and even security...it's too much!

A country blessed with natural resources like Nigeria shouldn't depend on tax for development

richmond500:
taxes are from profits.
So ur business will not die

Were struggling to expand to create more jobs. This will only stifle growth.

Cromagnon:


It's constitutional
You voted for it
Where did you think free security and education will come from



No
No they won't
Dangote will add 25% to cement
DSTV will add 25%
Ibo importers will add 25%
Petrol station will ah 25%
Land lord will add 25%
Traders will add 25%
Transport will add 25%
The poor will pay extra 25%
Politicoans will get 25% more loot

Point of correction I NEVER voted for this government!

The more luxuries you acquire, the higher the taxes you pay. Build the mansions, and buy fleet of cars, get ready to pay taxes on those items.

okp*lor eyes is not only a tribalist criminal, born one, he is a very greedy tribalist criminal.

he is the most useless president worldwide.

Christ4ever:
Another wicked policy? Mehn.. Even Pharaoh no hate hin people.

Everyone should be used to Tinubu's tricks by now. Start with high earners then move to every other person.

Same thing with electricity. He started with those they call Band A, now almost everyone is affected.

This sad thing is his puppet- Apkabio will rubber-stamp it as usual.

What exactly is the work of NLC?

to collect their own share

Babangidapikin:

USA is an idea economy .. do you know how many dependant this CEO have beyond their families both extended and internal ... Can the President tell him he spend his earnings on himself and his family alone in the past five years ... This people help government in some ways using taxes to burden is not healthy.

I don't get u, but I have no problem with this 25% tax.
At the end of the day if u embezzle their tax monies, the elites will come for u.
Imagine someone making N5b monthly and u take away 1.4 billion, ur govt no go find am easy if u didn't put that money to good use.

ogashman:
Rubbish move as usual....

If I make #100 million, u go come collect 25 million.

Thieves

Democracy
We all voted for it

Cromagnon:


It's constitutional
You voted for it
Where did you think free security and education will come from



No
No they won't
Dangote will add 25% to cement
DSTV will add 25%
Ibo importers will add 25%
Petrol station will ah 25%
Land lord will add 25%
Traders will add 25%
Transport will add 25%
The poor will pay extra 25%
Politicoans will get 25% more loot

That's not how it works. USA pay as much as 10-37% on federal tax, they still have state tax anyways

Magnetboss:
Hahahaha.. I swear Tpain wan finish Nigerians finish, he was sent from hell to deal with Nigerians severely.

Both tribalist and non tribalist dey buy fuel for 1200 per liter.

Both tribalist and non tribalist dey buy big loaf of bread for 2200 and so on..

I think we still need more hardship to Wake up entirely.

You thinking they are taxing just people that earn 100million and above, soon they will find a way to twist it all and even the common man who earns 10k per month will be taxed too. Everybody eyes go clear until we all shun tribalism and vote for competency.

humans are tribal. Deal with it

blackmantis:


Were struggling to expand to create more jobs. This will only stifle growth.

No it won't.
The revenue from taxes will create the enabling environment for business to thrive.
U can't collect 25% from the elites and embezzle it. They will make u vomit that money.

Emmanuel900:
This is how it is in the developed countries Nigerians want Nigeria to be like.

This is really a great Idea, it is a great way for Rich Nigerians to contribute to building the country instead of always using the money to carry Olosho and drink at the night club.

is olosho and drink not part of development. You prefer they keep the money under pillow

maxiuc:
A country blessed with natural resources like Nigeria shouldn't depend on tax for development

Even USA gets 48% of her revenue from income tax.
All developed nations get more of their revenue from tax

richmond500:
In every country, the low and middle earners pay more tax

But in Nigeria they get more tax waivers and the poor are taxed to the latter

richmond500:
I don't get u, but I have no problem with this 25% tax.
At the end of the day if u embezzle their tax monies, the elites will come for u.
Imagine someone making N5b monthly and u take away 1.4 billion, ur govt no go find am easy if u didn't put that money to good use.

Do you want them to stop living in Ikoyi and move to Lekki .. don't you know most companies are still facing challenges as a result of floating the currency. Before you know it the best minds will leave the country and the worst minds will crash the companies and the country .. at least implement it piece meal so they can adjust ... The country is already pressurize small thing , it might implode.

Acidosis:

Stealing 25% from hardworking Nigerians when Yahaya Bello is still at large is just c r a z y.

If you earn around N105-120m, better downgrade your earning to N99.5m.

u will still be taxed.
The taxed on 99.5m, it may not be 25% but it could go as high as 20%

Babangidapikin:

Do you want them to stop living in Ikoyi and move to Lekki .. don't you know most companies are still facing challenges as a result of floating the currency. Before you know it the best minds will leave the country and the worst minds will crash the companies and the country .. at least implement it piece meal so they can adjust ... The country is already pressurize small thing , it might implode.

No, our problem is because the elites has been milking the country for too long from multiple fx window, it's not the same anymore.
The country will not crash when I now buy dollar at the same price with Oshiomole.
We get dollar at the same price and my business can now compete favourably now.

AceRoyal:
Tax! Tax!! Tax!!!

25% tax is criminal no matter how we want to justify it, especially when the government is doing little or nothing to help businesses grow or contribute directly or indirectly to the success of these individuals.

Even the rich will also cry!

No focus on human capital or infrastructural development.

No focus on cutting down cost of governance.

No focus on clamping down on corruption.

All the tax, multiple loans, revenue from other sources and supposed savings on subsidy removal..... ABSOLUTELY NOTHING TO SHOW FOR IT!

I dare anyone to mention just one thing the common man presently benefits or enjoy from the government.

It's sad, painful and pathetic.

OH PLEASE SHUT UP.

That you can read, write, and have access to the internet, DO YOU THINK IT ALL HAPPENED BY MAGIC?

Could your grandparents or great grandparents read and write? Did they have qualifications? Did they have phones and communication? Could they JAPA from their farms and head to Australia or Canada or US for “greener pastures”?

CAPITAL NO.

All that came from govt investment in Education and Telecommunications.

Were it not for that investment since Independence, YOU would be a VILLAGE PALMWINE TAPPER today like your forbears.

So USE your Education and internet access you enjoy, courtesy of Nigerian govt investment, to GO on YouTube and learn ANY skill for FREE, and START SOMETHING WITH YOUR LIFE.

And in the countries you worship like the UK and US, their tax rates are even HIGHER than 25%.

If you want to be developed like them, you must be prepared to pay HIGH TAXES like them.

Akfrenzy:


But in Nigeria they get more tax waivers and the poor are taxed to the latter

u didn't get my point.
It's the low income earners that pay the highest tax in every country, the rich don't pay as much as the poor pay.

It's the same in UK, Switzerland, Norway etc.

Judging from several comments here, I make bold to say it that there are many educated illiterates in Nigeria.

Political sentiments have turned lots of them from playing opposition to being outright dumb and daft.

ednut1:
Its only in Nigeria and some few other countries that people buy houses and cars worth over 100m and dont pay income taxes.

lot of countries don't pay tax, yet dem no corrupt like Nigeria.

Common loan wen we dey borrow, we can't even say this is what we did with it

richmond500:
ur way of writing is very difficult to comprehend. I didn't get ur point

It is okay ... Blaming the Elite for price differentials in terms of exchange is not the way to go, if Government created the opportunities in the first place.

Babangidapikin:

It is okay ... Blaming the Elite for price differentials in terms of exchange is not the way to go, if Government created the opportunities in the first place.

Ok now I get u.
True, the govt created the opportunities for the elites to milk the country, but I think this govt has gone along way to make policies that will stop the elites from having their way.

I know Nigeria will survive

richmond500:
Ok now I get u.
True, the govt created the opportunities for the elites to milk the country, but I think this govt has gone along way to make policies that will stop the elites from having their way.

I know Nigeria will survive

Okay if you think so

Astromania:
Extorting 25% from hardworking ppl all in d name of tax, is a crime

Haba! It is too much na. 25% Kilode! Ogini!

Oritna94:
It would have been a great Idea but we all know what happens to the money. It will be looted as usual. . The UK is a perfect example of how tax works. Basic amenities available..

really yet all the politicians are super rich

ticker:
25% is crazy

40 to 51% in America and the west you all look up to

2mininuP:
I hope it works and properly implemented, I can perceive something good from it

It's obvious you're a poor man. What's good about stealing someone's 25m in the name of tax. That's pure theft. Na because you poor and it won't affect you, that's why you're seeing something good from it.