The Layman’s Understanding Of The Proposed Tax Reform Bill - Politics (3)

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The Layman’s Understanding Of The Proposed Tax Reform Bill - Politics (3) - Nairaland

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Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by TheOldGods: 10:35am On Nov 29

Good.
Since it's like this, let's the southeast states come together to build ports, so they can decongest Lagos. Solido should now focus on building port fro Anambra so all Igbos can come back to east to grow their States.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by TheOldGods: 10:37am On Nov 29

myspace:
Why are you not adding the part of the bill that would increase VAT by hundred percent, from 7.5percent to 15percent?

Why are you not adding the part that would require all Nigerians have a Tax ID to operate even a savings account, which means government can monitor and garnish inflows they deem taxable, even if those savings inflows are proceeds of non-profit activities?

What kind of demonic cruelty is this? Nigerians are crying for relief but you want to increase their tax burden.

It is sad the only people voicing concerns about this draconian bill are from the north.

oh, I didn't even know there is something else hidden. The north should never let it slide

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by gabbytabby: 10:37am On Nov 29

A lot of devolution of responsibility is taking place example is in the electricity sector and it makes sense that resources to make this possible should be given to the states.

I don’t really see the problem with having some more resources sent to the states to meet the additional responsibility unless we are saying we do not have confidence in the state governors.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by owobokiri(m): 10:41am On Nov 29

alanto:
This reform get as e be o.

States like Borno, Bayelsa, Ebonyi, Kebbi and the likes how do they get money if federal government refuse to short change Lagos for them.

As scary as it sounds, na now we go know parasite 🪱

Let's see how things unfold.

Did they bury your umbilical cord in this Lagos State? Everyday Lagos, Lagos, Lagos. What is your state? Ondo? Ekiti, abi Osun? Defend them too.

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by davades(m): 10:49am On Nov 29

logan2:
I want make Tinubu implement this reform bill make everywhere scatter.

LOL

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by gabbytabby: 10:51am On Nov 29

At the current time only few things are within the scope of VAT. Most things bought by the average Nigerian in the market has no VAT except you shop in places like Shoprite and big supermarkets often patronised by the Elites.

What is wrong with having an ID even where this incorporates Tax ID no where does this gives the government access to monitor and garnish so you are just rumour mongering if anything it makes it easier for government to administer pallatives and social programs directly to the people without someone stealing it.

It might make it easier to identify criminals and that is a good thing ba.

myspace:
Why are you not adding the part of the bill that would increase VAT by hundred percent, from 7.5percent to 15percent?

Why are you not adding the part that would require all Nigerians have a Tax ID to operate even a savings account, which means government can monitor and garnish inflows they deem taxable, even if those savings inflows are proceeds of non-profit activities?

What kind of demonic cruelty is this? Nigerians are crying for relief but you want to increase their tax burden.

It is sad the only people voicing concerns about this draconian bill are from the north.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Quim2: 10:54am On Nov 29

alanto:
This reform get as e be o.

States like Borno, Bayelsa, Ebonyi, Kebbi and the likes how do they get money if federal government refuse to short change Lagos for them.

As scary as it sounds, na now we go know parasite 🪱

Let's see how things unfold.

No state in the east will suffer not even tiny Imo

That ebonyi state you are mentioning go and check map well. It is a big farming state with high quality limestone that has been abandoned

That state has some of the richest rice fields in Nigeria and produce yams and tomatoes too

All they need to do in that state is to sit up. It is too big, too emptyempty and too useless

1 Like 1 Share

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Emtol01: 10:55am On Nov 29

blacksam01:
The part I don't support in is the part where they names a 1m annual earner a big income earner and again the reduction of the share if the FG...

The FG has a far far bigger role to play to keep the nation going... U guyz are dumb to tinubus antics... He needs Lagos or the region he governs to have endless cashlow which he and his family will coner

And from your assertion, Tinubu is going to live for ever.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by harjay1986: 10:56am On Nov 29

michlins:
States rich in agriculture will suffer from this. Here's how it will affect them negatively, there's currently no taxes on agricultural products as government intends to boost food supply. So such states will be giving away the only thing they can boast of freely while others will be able to tax their own.

At the end,I pray Nigeria wins because right now, it's as if if we block one part, more areas open up

yes we bock one part , more area open, then it will call for such state to have state farms that the product from such farm is for the Government of such state, the state can decide to go into cash crops, Cow rearing for Milk production and many more which will generate alot for such Government

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by blacksam01: 11:00am On Nov 29

Emtol01:

And from your assertion, Tinubu is going to live for ever.

Yoruba ppl will live forever.... So it's an ethnicized bill

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by AK481(m): 11:08am On Nov 29

They will now encourage people to drink beer in the north

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by DmonSlayer10: 11:09am On Nov 29

alanto:
This reform get as e be o.

States like Borno, Bayelsa, Ebonyi, Kebbi and the likes how do they get money if federal government refuse to short change Lagos for them.

As scary as it sounds, na now we go know parasite 🪱

Let's see how things unfold.

Please don't sound like an illiterate; Lagos contributes NOTHING to the national coffers....so nobody is shortchanging it.

Bayelsa contributes it's rich Crude oil and marine economy to the National coffers...

Ebonyi is the Headquarters of the mining industry in Nigeria; where lead,iron ore,bauxite and limestone's are daily exported out of Nigeria!Again,Ebonyi Has the largest numbers of QUARRIES in the country where thousands of Trucks ship out granites and other precious stones to other states on a daily basis.

If the thousands of IMPORTERS and Exporters and the small and large industries and businesses domiciled in Lagos RELOCATES.....

You'll see that Bayelsa and Ebonyi are far better than Lagos in terms of IGR

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Zooposki(f): 11:10am On Nov 29

marticeus:
If this tax reforms is implemented, then know it that Nigeria is liberated 60 percent.
It will end agitations for more state creations.
Some states may even start discussing on how to merge together like Yobe & Borno, Taraba & Adamawa etc
Every state will now start functioning like a real state, look inward to increase IGR and stop waiting for handouts from Abuja every month.
Biafra, Oduduwa and Arewa will gradually die a natural death.
New ideas will emerge and tribal inclinations will begin to disappear.
Many more, Nigeria/States will witness real physical developments with serious planning.

What of the oil money shared, while North keep the money generated from their resources to themselves?

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Zooposki(f): 11:12am On Nov 29

DmonSlayer10:

Please don't sound like an illiterate; Lagos contributes NOTHING to the national coffers....so nobody is shortchanging it.

Bayelsa contributes it's rich Crude oil and marine economy to the National coffers...

Ebonyi is the Headquarters of the mining industry in Nigeria; where lead,iron ore,bauxite and limestone's are daily exported out of Nigeria!Again,Ebonyi Has the largest numbers of QUARRIES in the country where thousands of Trucks ship out granites and other precious stones to other states on a daily basis.

If the thousands of IMPORTERS and Exporters and the small and large industries and businesses domiciled in Lagos RELOCATES.....

You'll see that Bayelsa and Ebonyi are far better than Lagos in terms of IGR

These resources are more in the North. What are the saving theirs for while they deplete that of the South?

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by blacksam01: 11:13am On Nov 29

gabbytabby:
At the current time only few things are within the scope of VAT. Most things bought by the average Nigerian in the market has no VAT except you shop in places like Shoprite and big supermarkets often patronised by the Elites.

What is wrong with having an ID even where this incorporates Tax ID no where does this gives the government access to monitor and garnish so you are just rumour mongering if anything it makes it easier for government to administer pallatives and social programs directly to the people without someone stealing it.

It might make it easier to identify criminals and that is a good thing ba.

Bubu gave palliative, Jonathan gave palliative, tinubu has given palliative... Now, how many did u get... Tell u paid online zombie... How much did u get..?

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by lereinter(m): 11:14am On Nov 29

VAT control or Resource control

Which one are you explaining?

nigeria fg can never do resources control, wetin federal executive wan dey steal again

Let every state control her resources, they should do all roads in their domain, establish their own police and security too

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by emmnprince(m): 11:16am On Nov 29

blacksam01:
The part I don't support in is the part where they names a 1m annual earner a big income earner and again the reduction of the share if the FG...

The FG has a far far bigger role to play to keep the nation going... U guyz are dumb to tinubus antics... He needs Lagos or the region he governs to have endless cashlow which he and his family will coner

Will Tinubu live forever?

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by sexyto(m): 11:36am On Nov 29

michlins:
States rich in agriculture will suffer from this. Here's how it will affect them negatively, there's currently no taxes on agricultural products as government intends to boost food supply. So such states will be giving away the only thing they can boast of freely while others will be able to tax their own.

At the end,I pray Nigeria wins because right now, it's as if if we block one part, more areas open up

Not if those states can turn their produce into finished goods and add value to what ever they produced.
They may even start exporting to other countries.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by naija1stnigar(m): 11:37am On Nov 29

alanto:
This reform get as e be o.

States like Borno, Bayelsa, Ebonyi, Kebbi and the likes how do they get money if federal government refuse to short change Lagos for them.

As scary as it sounds, na now we go know parasite 🪱

Let's see how things unfold.

some those states you just mentioned has what it takes to compete fairly with some power houses in Nigeria just that the lazy economy we run plus a federal system that concentrates development or needful infrastructures to a particular place will make you think now that some places are not economically viable. Until there's resource control system in place, some of you will forever be dumb to the fact that states like Rivers, cross river, Delta and even Anambra State has what it takes to compete with Lagos if those places have access to various seaports or functional river ports, some of you will not even know that states like Niger, plateau and Kaduna has what it takes to compete and outdo a state like Ogun if these people invest heavily in mechanized farming with improved security. My point is that there's more to explore and discover about Nigeria, if only we can be fair enough to put the best system in place, even if there will be inequality in this system yet, I believe no State in Nigeria will be poor cos no part of the country is barren.

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by RealGandalf: 11:59am On Nov 29

michlins:
States rich in agriculture will suffer from this. Here's how it will affect them negatively, there's currently no taxes on agricultural products as government intends to boost food supply. So such states will be giving away the only thing they can boast of freely while others will be able to tax their own.

At the end,I pray Nigeria wins because right now, it's as if if we block one part, more areas open up

They should start faming. Russia, Ukraine etc are farming wheat. Malaysia is thriving on palm oil.

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Adeniyiademola(m): 12:00pm On Nov 29

myspace:
Why are you not adding the part of the bill that would increase VAT by hundred percent, from 7.5percent to 15percent?

Why are you not adding the part that would require all Nigerians have a Tax ID to operate even a savings account, which means government can monitor and garnish inflows they deem taxable, even if those savings inflows are proceeds of non-profit activities?

What kind of demonic cruelty is this? Nigerians are crying for relief but you want to increase their tax burden.

It is sad the only people voicing concerns about this draconian bill are from the north.

This is the first time that I will be reading any thread about this new bill. With little understanding of what the Op put up there. It has been highlighted that those masses earning below minimum wage will be exempted from tax. That means these set of people could have tax ID for proper documentation of every Nigerian. But their tax sheet would be blank because they are yet to earn what will qualify them for tax.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by iwaeda: 12:05pm On Nov 29

myspace:
Why are you not adding the part of the bill that would increase VAT by hundred percent, from 7.5percent to 15percent?

Why are you not adding the part that would require all Nigerians have a Tax ID to operate even a savings account, which means government can monitor and garnish inflows they deem taxable, even if those savings inflows are proceeds of non-profit activities?

What kind of demonic cruelty is this? Nigerians are crying for relief but you want to increase their tax burden.

It is sad the only people voicing concerns about this draconian bill are from the north.

I told them, one was even questioning my education. Anyways, let me just laugh as usual. grin

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by lagabush(m): 12:11pm On Nov 29

alanto:
This reform get as e be o.

States like Borno, Bayelsa, Ebonyi, Kebbi and the likes how do they get money if federal government refuse to short change Lagos for them.

As scary as it sounds, na now we go know parasite 🪱

Let's see how things unfold.

Remove bayesla bro. Dem b oil

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Ngasky(m): 12:20pm On Nov 29

TempUser:

Then they should process their products into finished goods which would then be taxable cum encouraging industrialization in such states.

Solved!

I personally work in a agro processing company in kebbi state. I personally dispatched more than 14 billion naira worth of finished product every single month.
The companies are two in number. And I am only talking about the one I am working in. The other one is also having the same value of dispatches.
7.5% of 14 billion means 1.05 billion as VAT every month. Now if you check VAT of kebbi state it is in the range of 600 million naira.
There are 6 other similar agro processing companies processing same products here in kebbi state alone. So how comes the vat is so low?
The answer is that the headquarters of these companies are located in Lagos. And as such even though the company is here. Sourcing for raw materials and processing it here in kebbi the royalties and VAT are deducted at Lagos office.
If they can make decentralization of VAT such that every single state should have the full recognition of it's VAT nobody will complain. But look at how people are thinking that the north is a parasite. I want to see a scenario where it can be enforced 100%. Only then will people understand what is the real VAT of Lagos and Ogun states.

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Omodua(m): 12:32pm On Nov 29

Editorialtimes:
By Emmanuel Odekina Iyede Aidoko Onuche

Source: The Bureau Newspaper

Thanks 👍 for the enlightenment.

Very key in understanding issues at ✋ hand.

In other words, it's tailored towards fiscal federalism,abi?

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Omodua(m): 12:35pm On Nov 29

RealGandalf:

I so much like these proposals.

1. All state governors will have to start thinking outside the box. Like some will have to create wealth out of whatever resources they have in their domain.

2. The center (presidency) will be a little unattractive considering the resources that will be available to the governors.

3. Only smart minds will aspire to be governors. Chances for dunces will be reduced.

4. Fanaticism will drastically reduce as each state will try to make their domains peaceful, hospitable and investment friendly.

5. More ministries and agencies for the states.

6. I love the technical restructuring that Tinubu is doing. The born to rule mentality has to stop.

7. Some states will now have to look for ways to control their population. Enough of almajiris in the name of having voting power during elections.

Well said. Spot on 👏

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Vuvuzela2: 12:42pm On Nov 29

Now, I am even more confused.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by geewean(m): 12:48pm On Nov 29

I am not a Tinubu supporter but truth be told this is a good reform and kudos to the presidential committee on fiscal and tax matters.

Ideally, this is so superb but one cancer that's evident in the Nigerian social fabric is Corruption.This cancer will creeple the brightest reforms that has thrived in other clime.

The state governments which I don't trust will mismanage this financial windfall to their
personal aggrandisement.

Now let's see how Hisbah will continue to destroy Beers in the north when they benefit from the VAT from other states that consume it.

It's a system of taxing the rich against the poor.

There should be an accountability framework such that a less performing governor will be exposed but truth the Nigerian people so vulnerable to small change that they will mortgaged their future to support incompetence.

Well done on this.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by smokinloud(m): 12:55pm On Nov 29

logan2:
I want make Tinubu implement this reform bill make everywhere scatter.

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by michlins(m): 12:58pm On Nov 29

RealGandalf:

They should start faming. Russia, Ukraine etc are farming wheat. Malaysia is thriving on palm oil.

you don't read to understand but to argue. I'm telling you that government has removed taxes on agricultural products like wheat and other foods. So no matter what they produce, it can't be taxed

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by Lithiumite: 1:00pm On Nov 29

michlins:
States rich in agriculture will suffer from this. Here's how it will affect them negatively, there's currently no taxes on agricultural products as government intends to boost food supply. So such states will be giving away the only thing they can boast of freely while others will be able to tax their own.

At the end,I pray Nigeria wins because right now, it's as if if we block one part, more areas open up

Citizens in developed countries pay more taxes than we do but they live better standards than we that don't pay taxes do......these reforms will engender more productivity and people will need to work to earn their keep..... states you mentioned with vast agrarian potentials can now start working on agric processing and large scale industrialisation thereby creating value and employment.

1 Like

Re: The Layman’s Understanding Of The Proposed Tax Reform Bill by smokinloud(m): 1:00pm On Nov 29

michlins:
you don't read to understand but to argue. I'm telling you that government has removed taxes on agricultural products like wheat and other foods. So no matter what they produce, it can't be taxed

On importation or the sales of local agricultural produce?. I think it's traders that'll be paying the tax not farmers themselves. Oops I don't even know it's only on VAT

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