Tycoflu:


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"

May be you should read again!
It says
"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.

So, where is deposit or transfer by third party into your savings account written?

The two statement as split above are stand-alone.

Image123:


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

Tycoflu:


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"

May be you should read again!
It says "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.

So, where is deposit or transfer by third party into your savings account written?

The two statement as split above are stand alone.

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

First, read your laws to reduce (but you can still maintain) your protests sir. Valid protest...but a law is a law. Are you aware that's there's also a law on petrol tax? Again, that hasn't been implemented like this Stamp duties Act. I'm looking forward to a day petrol tax law will be implemented rather than rebuilding toll gates on Federal Highways.

Nigeria turning into Ghana.(Looking for ways to extort unnecessary money from the masses).

50 naira * 1,000,000 million nigerians depositing money in a day= 50, 000,000 naira... (Govt no work- Monkey dey work, baboon dey chop).

Instead of govt to pay us, we are paying govt..

but i thought govt promised us 5000 naira?

anybody who says NIGERIA IS GETTING BETTER, should think twice...

Pack my bags, to Muritala airport, flight to the USA

Spybradd:


another old and aging "we are the leaders of tommorow".
Gullible zouogeryans

intelligent biafran I see you #you guys are so selfish and highhanded

Nigerians want good thing but they don't wanna pay for it. Here in SA, anytime I make a deposit into my personal account from my same bank am charged R35 that's almost N500. For every withdrawal as well am charged R5 that's N65. The VAT here is 14% and am paying a tax of 25% on my monthly salary.

Nigeria has the lowest VAT of 5% in the world, yet we complain about everything. I pray people can be more enlightened, this a good policy considering the current economic situations.

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

is like u dey craze. So it is masses that wil stil pay 4 money they wil stil. So if i do transactions 100 times in a month, they wil ask me to pay 5k. Nonsense.

passionate88:
and the best way to 'up' the revenue is to steal from the masses?. Isn't that kworopshun

You seems not to get what is happening

yinchar:
Nigerians want good thing but they don't wanna pay for it. Here in SA, anytime I make a deposit into my personal account from my same bank am charged R35 that's almost N500. For every withdrawal as well am charged R5 that's N65. The VAT here is 14% and am paying a tax of 25% on my monthly salary. Nigeria has the lowest VAT of 5% in the world, yet we complain about everything. I pray people can be more enlightened, this a good policy considering the current economic situations.

. So it is when sa went out of ideal they impliment the law?

OAUTemitayo:
You seems not to get what is happening

. Then tell us.

If you receive money from somebody else that is when they deduct their useless N50 for stamp.

It should be noted that these charges are only payable by receiving accounts…

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

Toll gates are not that bad... when i was a kid, and travelling toll gates usually had restaurants, sellers and a lot of armed policemen.

Joarams:


First, read your laws to reduce (but you can still maintain) your protests sir. Valid protest...but a law is a law. Are you aware that's there's also a law on petrol tax? Again, that hasn't been implemented like this Stamp duties Act. I'm looking forward to a day petrol tax law will be implemented rather than rebuilding toll gates on Federal Highways.

damn Nigerians is going to pay for the recklessness of our past leaders. more tax regime is on the way.

Kai until we Nigerians rise as a body without tribalism, nepotism and the rest, we will continue to pay as a group.

This is a bad policy anyway, Buh you know desperate times calls for desperate measures, so I don't blame the govt

This is not new. If you have a cheque book, check properly you will see a stamp on it. You have to pay duty for the stamp. What is new here is the amount of N50.

they should instead make tax compulsory for all dis useless big 4 nothing rich men. They should be task them with the numbas of cars they are using. I swear, motor wil reduce.

Is that the CHANGE Apc promised Nigerians ? , i trust my country people 2019 is near to vote you out , clueless and shameless people

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

SMH...you just learnt this "muntula"? It seems yesterday's loss on your four different account has taken another effect on your dumb brain.

Fg scam. Nigeria needs money

/
I support the move so that when one person loots the money, everyone will be so outraged that they won't remember such shameful words like #witch-hunt, #politicalParty and worse, the nonchalant attitude of Nigerians towards their oppressors per ethnical, political affiliation.

Tax those suckers!

/

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

With this present INEC,your vote will be inconclusive in 2019. We are in for it.

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.

Lagos state, run on PROPAGANDA by the same people of APC collected plenty IGR taxes from people but achieved very little for the trillions they raised in 17 years.
Obviously we are 200 million mumus indeed.

MathsChic:
Some days ago, I was at a secondary school in Surulere (across the bridge from the Island) in Lagos for a friend's event where he is educating secondary students about the perils of peer pressure. I honestly wasn't expecting what I saw as the state of this secondary school.
It left me wondering if this was a school or a dump yard. Why in heaven's name are Nigerian leaders looking the other way while the young ones study in this sorry environment?

The attached pictures are what I saw. This is no secondary school. It's a hopeless shanty. I hope this gets to front page and attracts the necessary attention.



www.nairaland.com/attachments/3124804_20151126164323_jpeg933998a57f8c28234ccaa665d2fefc46



www.nairaland.com/attachments/3124836_20151126163829_jpeg3798e0f98a572b323f9b9ab93cf4eb74

Joarams:


First, read your laws to reduce (but you can still maintain) your protests sir. Valid protest...but a law is a law. Are you aware that's there's also a law on petrol tax? Again, that hasn't been implemented like this Stamp duties Act. I'm looking forward to a day petrol tax law will be implemented rather than rebuilding toll gates on Federal Highways.

My friend petrol tax of 1.50k is part of the cost of every litre u buy if u don't know

just because they no longer see money to loot, they want to milk us dry..i cant wait till 2019!! useless country

yinchar:
Nigerians want good thing but they don't wanna pay for it. Here in SA, anytime I make a deposit into my personal account from my same bank am charged R35 that's almost N500. For every withdrawal as well am charged R5 that's N65. The VAT here is 14% and am paying a tax of 25% on my monthly salary.

Nigeria has the lowest VAT of 5% in the world, yet we complain about everything. I pray people can be more enlightened, this a good policy considering the current economic situations.

Will u shut up sir

Lol.. This is just not nice! So, the FG wants to have a share of my money, whether I like it or not!.. Lol.. Like, this is very funny.

Like seriously? Please do not repeat such cuz this is wrong. Shine ur eyes cuz this is day light robbery.

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

Oliviaarims:
Lol.. This is just not nice! So, the FG wants to have a share of my money, whether I like it or not!.. Lol.. Like, this is very funny.

Clears throat.

islandbreeze:
just because they no longer see money to loot, they want to milk us dry..i cant wait till 2019!!

www.nairaland.com/attachments/3129339_aaa_jpgd8f8dedc0591f3b913dbcdf0fdea2687

mobaladf:

You are stupid and useless for that sentence

you are the silly one,.. Slow poke

lofty900:
bro you asked a very intelligent question. 50naira tax plus 4naira alert, that's 54naira deducted per transaction. Ewooooo, we don't want change again!

I couldn't stop laughing.

On a serious note, this government is pain.
We have lost count of their sins in 8 months of this administration