grandstar:
It will discourage savings especially by small savers.

It is a regressive tax on savings. Most people may start demanding small payments be made strictly by cash. Its absolute nonsense

It doesn't affect savings account.

This one na afternoon rubbery without gun. Which kin charm dis apc take hold us sef? This is democracy. I will revolt b4 I keep quiet n die.

Tycoflu:


This part of the statement should answer your assumption

“For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties:

payments of deposits or transfer by self to self whether inter or intra bank; and

any form of withdrawals/transfers from saving accounts"

Hope it answers your question.

so if I pay into my account by my self, I won't pay the tax?

Ezeebube2:

http://www.vanguardngr.com/2016/01/fg-imposes-n50-stamp-duty-on-bank-customers/

well,I have said it , The gap between the Rich and poor is 97% to 3% God will help us in this Country...

Image123:


It doesn't affect savings account.

That's good to know. It however should be for sums of 10,000 and above.

repogirl:
Booooooohari is Useless, I swear!

So I should dash them 50 naira from every money that enters my account? Foools! Na dem gimme the money?

Which kind stupid stamp rubbish is this? Electronic stamp?

Imagine removing 50 naira from all the transactions that occur everyday? Na my sweat these useless president and fake CBN governor wan use to pay their civil servants and fund their over bloated budget?

Boooooohari! APC! Charlatans! Just a useless bunch of clueless morons!

Calm down madam, it is in accordance with rule of law. Compliance with the provisions of the Stamp Duties Act, LFN 2004 as reinforced by the court judgement in Suit No FHC/L/CS/1710/2013. OBJ and GEJ hand dey the matter. Don't worry, use your savings account if you don't want to be charged.

Tochaigh:



Please describe Deutschland's infrastructure and government, and then describe Nigeria's infrastructure and government.

I'm working my ass without electricity, bad roads, inflated housing cost, no portable water, no sewage, bad economy... the list goes on. You are here typing rubbish!
While Fayemi has budgeted over 700m for a website upgrade in the new budget

Plus why are you even in Deutschland, buhari clearly needs you more.

In fairness to the chap you responded to...he is right.

And yes....I am not justifying Fayemi's alleged overspending.(If he is guilty....he should be prosecuted).

Fact is....we do not have many goodies because we do not pay enough tax. For years.....we could avoid the low revenue by just selling oil and agric produce and minerals.....and sharing the kudi.

But that made the government think that they had no responsibility towards us.

Ironically....by raising taxes from us Nigerians....APC is putting themselves in the hot seat.Governments whose revenue comes from taxes tend to do better in the service delivery aspect than those who get money from selling raw materials to industrial nations...and pocketing the money. They know that if they do not produce value for the taxes....they will be in big trouble.

So...this raised taxes thing might be a good idea for us Nigerians.....and may make things hotter for the APC.

And the above reason is why Germany provides better services. They know most of their revenue comes from taxes....so they cannot afford to mess up. Unlike our governments past and present who know that they do not rely on our taxes for anything....the oil money until last year was flowing in....and as a result....think they owe us nothing.

But that might be about to change.

Kikero112:


And what about the millions of Northerners that have bank accounts? They are affected too.

Your bigotry is really amusing. Even Northerners in the village have bank accounts too.
R
Smh.

When ur dullard was giving posts only to the north what was that

BuddhaPalm:


Chicken or Egg...?

You can't run a government without money.

Oga gerrout here

16years Nigeria has had surplus eggs. So it's my own little eggs that would make the difference? With billions budgeted for cars and over 700m for website upgrade in 2016 budget.

Change that your moniker!

These APC change na wayioo

lofty900:
so if I pay into my account by my self, I won't pay the tax?

Yes. And those using savings account won't pay even if the money is deposited by another person.
Most people here just rush to comment without comprehending. Majority of my SE brothers are guilt of it.

divide9ja:


When ur dullard was giving posts only to the north what was that

Have a good day, sir.

Tochaigh:



Please describe Deutschland's infrastructure and government, and then describe Nigeria's infrastructure and government.

I'm working my ass without electricity, bad roads, inflated housing cost, no portable water, no sewage, bad economy... the list goes on. You are here typing rubbish!
While Fayemi has budgeted over 700m for a website upgrade in the new budget

Plus why are you even in Deutschland, buhari clearly needs you more.

Paul, face ya work o!

Oga they started somewhere. I also pay for irrelevant things I don't use; Health insurance and TV, even though I don't use TV and I ain't 'sickler'.

The budget for roads and other infrastructures this year is reasonable, never have we had such huge amount on infrastructure. let's just hope there'll come into fruition.

Where do you want the money to come from if not Nigerians paying for it?!

I don't support some unreasonable things on the budget though.

Kikero112:


And what about the millions of Northerners that have bank accounts? They are affected too.

Your bigotry is really amusing. Even Northerners in the village have bank accounts too.

Smh.

Not d gwari man in niger state, dey make huge money after harvest but dem no kw road to any bank

OAUTemitayo:
You both need to be put in a mental detention facility.
You need to upgrade your mental faculties

look who is talking? CERTIFIED ZOMBIE!! would you have said that if GEJ was in power??

if na N10 i for no complain... but N50 is a very big Fraud oo.. N50 X 70 MILLION TRANSACTIONS ( Assuming sa 70m 9ja people receive or pay in ) na how much par day ?

how dem go take know how much enter par day?

where the money dey go ?

ooh my God.. why i be nigerian self ?

odogwu125:

Not d gwari man in niger state, dey make huge money after harvest but dem no kw road to any bank

Having lived in the North....I know many Northerners know the road to the bank.

There are their civil servants,office workers, teachers,students, traders, etc.....and even many illiterates (I was at a bank in a Northern city when an illiterate man came to open an account. Was helped by a bank clerk to do it Signed using his thumbprint).

The North is not as backward as you think. And I know of many Southerners who do not keep their money in the bank either.....

PaulJohn1:


I seriously wonder why a lot of people are blaming the government for this act.
Too many awoof things in Nigeria believe me.

I wanted to deposit money into someone's account here in Deutschland (a local account) , but because I'm not a customer of the bank, I was told I'll pay 15€...
Bank here charge 5€ on accounts every month. This is a country with good economy.

Nigerians should understand that we can't expect anything good from government if we don't pay tax.

muntula. Weytin carry u go dia? Na ur papa country ? Rubbish

Tycoflu:


Yes. And those using savings account won't pay even if the money is deposited by another person.
Most people here just rush to comment without comprehending. Majority of my SE brothers are guilt of it.

show me where them talk that one make i read am

maslong:
this is a target against the south, most specially the IGBOS. because ab0kis don't do banking.
may GOD punish all those who forced this man on us.

A lot of Northerners do use the bank

It affects them too.

Image123:


It doesn't affect savings account.

Are u for real or are you thinking like ur dullard?

People are not being paid salaries.

People are suffering and you want to tax the little they have?

meanwhile buhari is spending 1.6 Billion on food??


****

Nawa4nl:


Are u for real or are you thinking like ur dullard?

People are not being paid salaries.

People are suffering and you want to tax the little they have?

meanwhile buhari is spending 1.6 Billion on food??


****

It doesn't affect savings account, that's a fact. i don't have time for inanities.

Kikero112:


In fairness to the chap you responded to...he is right.

And yes....I am not justifying Fayemi's alleged overspending.(If he is guilty....he should be prosecuted).

Fact is....we do not have many goodies because we do not pay enough tax. For years.....we could avoid the low revenue by just selling oil and agric produce and minerals.....and sharing the kudi.

But that made the government think that they had no responsibility towards us.

Ironically....by raising taxes from us Nigerians....APC is putting themselves in the hot seat.Governments whose revenue comes from taxes tend to do better in the service delivery aspect than those who get money from selling raw materials to industrial nations...and pocketing the money. They know that if they do not produce value for the taxes....they will be in big trouble.

So...this raised taxes thing might be a good idea for us Nigerians.....and may make things hotter for the APC.

And the above reason is why Germany provides better services. They know most of their revenue comes from taxes....so they cannot afford to mess up. Unlike our governments past and present who know that they do not rely on our taxes for anything....the oil money until last year was flowing in....and as a result....think they owe us nothing.

But that might be about to change.

This sums up my point

which kind of billsh#t is this now which kind of billsh#t is this now, so the government want to start exploiting it's citizen even after paying VAT. this Government is slowly becoming a p.i.m.p extorting it's citizen.

richeso:


show me where them talk that one make i read am

read the whole story again and pay attention to this :-

“For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts"

U tink it's sensible? Y cnt govt officials reduce their 2 18k per month then I ll knw they r serious abt diversification. A Nigerian who earns 20k or less has 50naira deducted wen his wages r paid whereas he has paid income tax alredy. Seems u r a student/dependant who is still being fed. Am sure u ll feel d pain wen u start wrking.

OAUTemitayo:
Very sensible.
Oil price is going down and we need to up our revenue moves

lofty900:
So if I do bank transactions 50 times in a month, it's 50×50=#2500 gone just like that? I've never seen a reasonable government that turns to stealing from the masses to generate income. Continue, I can't wait for 2019

I hope you read from the post that PDP enacted the law. The new govt only ensuring that the law must be applied.

Kikero112:

A lot of Northerners do use the bank
It affects them too.

yes, very few ab0kis do but can you compere 1 to 99

nkowaputa:
[s]Copied from phockphockman

They said if PDP continues in office Nigeria will sink, gullible Nigerians believed them! Now they are in office, they said Nigeria will still sink after all, that the rot of the past administration cannot be corrected overnight. grin grin
Again Gullible Nigerians believed them! Ebola came calling, PDP rose to the occasion, rather than congratulate PDP, they praised APC governors in Lagos and Rivers for containment of Ebola, even the powerful health minister Prof. Onyebuchi Chukwu did not receive a single Weldon just because they detest anything PDP. Finally they have the power for peace to reign but God of justice who also detest injustice stroked with Lassa fever in the so called APC states, after all they are professional in containment of outbreak of diseases. Yet again out of helplessness and shamelessness they said it was the fault of past administration. gringringrin
Gullible Nigerians is now indifferent only God knows why! They said if only they could get power, insurgency will be history, gullible Nigerians believed them. Finally they have power, they said past administration did not buy ammunition but they were able to defeat insurgency in 7 months as they claim. I know Nigerians cant ask questions anymore otherwise you will visit Kuje prison convicted or charged. But i will still ask WITH WHAT AMMUNITION DID THEY DEFEAT THE INSURGENCY ? AUSTRALIAN OR CANADIAN OR BIAFRAN?
gringringringrin
Because i know they have not purchased even a single AK47 since they went to aso rock.
They said they will make fuel sell for 40 naira even when oil was above 75 naira per barrel. Now they are in charge even with their oga as oil minister fuel still sells officially 87 and un officially 100 not minding that oil price is now 30 naira and going by their assessment, assertion and calculation fuel by now should be selling for 25 naira per litre but who will talk, except you want to visit almighty Kuje prison. They said dollar being at per with naira is only a matter of may 29 2015. 8 months later dollar rate to naira hit all time high of 305. Record breaking government. I could still remember vividly my brother Chris Ngige during one of their last minute LIE in Enugu days before the fraud they called election said that PRESENTLY DOLLAR IS 220, IF DON'T VOTE THIS PEOPLE OUT, OUR BROTHERS IN ALABA WILL BE OUT OF BUSINESS, do you want that to happeeeeeeen gullible Nigerians shouted Nooooooooo. He said vote APC. My question is going to Ngige my senior brother. Sir, since you claim that at 220/1usd PDP price, Alaba brothers of yours will be out of business, what do you think will be their predicament now that APC price to the same dollar is 305 and still counting? [/s]
(Quote) (Report) 310 Likes (Like) 56 Shares (Share)

Trash!

Ebola was an epidemic which came to Nigeria because we had a senseless govt, who had heard about it for months but refused to do anything about it.. let me not even go into the world of corruption that surrounded ebola, cuz I was part of the volunteers hurriedly conscripted into the program because doctors were on strike. this corruption was swept under the carpet because at the end with the help of Lagos State who have a health structure that can't but work, Nigeria came out victorious.

You cannot then compare ebola with Lassa fever which is primarily endemic in Nigeria. And for those of you who rly want to learn, this is what the minister of health tried to say before he was misquoted out of context, there was a health roadmap drawn since 2012 to eliminate LF (Lassa fever) because wen you talk of diseases, there is control, there is elimination and there is eradication.. but this roadmap has not been implemented cuz jonathan and his looters were busy sharing dollars.

Nawa4nl:


Are u for real or are you thinking like ur dullard?

People are not being paid salaries.

People are suffering and you want to tax the little they have?

meanwhile buhari is spending 1.6 Billion on food??


It just reminds us of the only alternative , which is BIAFRA

Well...the fact is with Biafra....you would still be paying taxes at a higher rate....because oil prices are going to stay below $30 for the next ten years.And apart from oil (assuming SS stays in Biafra)....we have nothing else. Except importation......which will drain whatever forex we have.

Sorry.....but we all have to pay high taxes. And the thing is....once the government realises that the money it has to spend comes from us...instead of from oil....they might begin to sit up and pay more attention to bettering this our country.

Governments that rely on taxes more than on revenue from resources tend to do better in the service delivery aspect.

And even as you are bashing Buhari for food....bash your governors and LG chairmen too for doing nothing much since 1999. Same goes for every other part of the country. Biafra is just castles in the sky.

maslong:

yes, very few ab0kis do but can you compere 1 to 99

Not few....many.

Afterall...they have millions of workers up North...who have to be paid via the banks. And there are Northeners working down South too who have to be paid as well.

And there are lots of branches of banks up North too.

Either way....I expect that there would be increased taxes elsewhere up North.