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Nairaland Forum / Nairaland / General / Politics / Why The N50 Charge By Fg Is Corruption In Itself (45144 Views)
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Re: Why The N50 Charge By Fg Is Corruption In Itself by Emyogalanya: 11:10pm On Jan 20, 2016 |
MaziOmenuko:shallow ignorance? Education required lecture me but Pls compare and contrast with sheer ignorance/ shallow knowledge thank me later |
Re: Why The N50 Charge By Fg Is Corruption In Itself by kachnov(m): 11:13pm On Jan 20, 2016 |
obasiken: |
Re: Why The N50 Charge By Fg Is Corruption In Itself by Nobody: 11:14pm On Jan 20, 2016 |
This is a constructive criticism, thumps up. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by Nicur: 11:14pm On Jan 20, 2016 |
Tokt: 1 Like
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Re: Why The N50 Charge By Fg Is Corruption In Itself by erico2k2(m): 11:15pm On Jan 20, 2016 |
chukstel:if you check it says STAMP DUTY,I think most people are misinformed here about its meaniing |
Re: Why The N50 Charge By Fg Is Corruption In Itself by tempest01(m): 11:18pm On Jan 20, 2016 |
erico2k2: My point there is that the base amount is too low, naive or not...my argument was speculative. I've not had chance to see the cbn publication. Taxes should be more for the high class...If minimum wage is this low, then start taxing from minimum wage or around that range at least so we know you are sensitive. I still stand on cutting cost of governance at this critical period. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by erico2k2(m): 11:32pm On Jan 20, 2016 |
tempest01:I will refer you back again to the CBN doc b4 you put 4ward ur nxt argument.*This is STAMP DUTY* not tax,there is no % if there was then it would directly effect the ordinary man.this has nothing to do with PMB or GEJ,its all of the CBN |
Re: Why The N50 Charge By Fg Is Corruption In Itself by devonpaul(m): 11:32pm On Jan 20, 2016 |
otitokoroleti:lol, can we reduce ur brothers and sisters working in oil companies salary to 50k too so DT it can balance. let everybody be earning 100k. equality. Nigerians only want to experience CHAnGE, none of us really wants to change. if all d Rules and bye laws enacted in dz country are enforced. Many of u will know what d developed country residents are going thru. ask a UK resident |
Re: Why The N50 Charge By Fg Is Corruption In Itself by Nobody: 11:34pm On Jan 20, 2016 |
easrael: Mr Isreal, the last time I checked, I do not remember seeing any of the commercial banks in operation in Nigeria as being listed as a Government Institution. So please tell me how a private institution will pay directly into a Federal account. I may not know much about such things but at least I do know that much. Ofcourse there has to be a central point of collection and since the CBN is the only link to the Federal account, it only makes sense. As to the nomenclature assigned.....that is a discussion for another day. Considering that you failed to take into account the small detail I pointed out above, I find it difficult that you actually read 1800 pages. Please tell me what the sum allocated to Expenditure Sundries (mischievous grin). |
Re: Why The N50 Charge By Fg Is Corruption In Itself by solidman59(m): 11:34pm On Jan 20, 2016 |
NavierStokes: |
Re: Why The N50 Charge By Fg Is Corruption In Itself by gcof(m): 11:37pm On Jan 20, 2016 |
tempest01:am sure alot of Nigerians will not have a problem wuth cutting cost of governance if everybody will partake in it for instance the government has been complaining of empty treasury yet they mapped out millions of naira for purchase of vehicles for Senators. Even the outcry of many concerning their allowances yet nithing is done about it and the senators still take millions home every month. My point is this, everybody has to sacrifice something if cost must be cut |
Re: Why The N50 Charge By Fg Is Corruption In Itself by chukstel(m): 11:39pm On Jan 20, 2016 |
erico2k2: Thank you dear, this is reason must of them argue blindly. I doubt if some do listen to news or even read very well. they just want to comment. most are being biased politically, tribally or based on religion so they fail to see reason to other people's opinion. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by devonpaul(m): 11:40pm On Jan 20, 2016 |
Nigerians jump into conclusions like our lives depend on it.. some of you don't even take time to understand what d Stamp duty means, the history, existence, reason for enactment and what it's all about. una don rush go DT popular slang ' ehn, shebi u want change, u are having it na' kai, pls dats so uncool, its an Ill-habit.. when u see a gist on social media, try to read and digest 1st then give ur own opinion. Dont let ur stupidity and uncivilized manners reflect in ur post. thank you |
Re: Why The N50 Charge By Fg Is Corruption In Itself by tempest01(m): 11:41pm On Jan 20, 2016 |
erico2k2: Oga...Stamp duty, tax, whatever we call it, it is a means of revenue drive for fg. It shouldn't be. Given the state of our economy. All nigerians shouldn't be paying from our meagre income. What happens to someone that sells a widget for 1500 with a 100naira gain and depends on bank payments and internet transfers? taking out 50naira for each transaction to buy luxury cars, feed fat, pay hardship allowance and wardrobe allowance does not make sense. Increasing corporate tax or taxing luxury/imported items will increase the drive to find cheaper alternatives, which will encourage investors to locally produce widgets looks like a better way to increase revenue under present circumstances. Again, FG should review the base amount as 1000naira is not an optimum amount for the current situation in nigeria if they go ahead with this plan. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by NavierStokes(m): 11:44pm On Jan 20, 2016 |
SeanDada1: What will poor bubu do? He only knows to "pight kwarofshun" so he will indirectly remain tinubu's economic "halleluyah boy", we should expect more from where all these are coming from. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by tempest01(m): 11:45pm On Jan 20, 2016 |
gcof: The painful part is including the name of the foreign manufacturer they plan to buy the vehicles from....they want the ordinary man to contribute his quota, but they cant just also try and contribute theirs at this trying times. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by otitokoroleti: 11:47pm On Jan 20, 2016 |
devonpaul:bro, I have people residing in UK, Canada & UAE. The taxt they are paying over there counts. I dnt just comment anyhow because to the glory of God, I'v been to Uk & Canada. Legislative jobs should be turned to part time job. How many bills have they passed into law that will favour common men on the street? |
Re: Why The N50 Charge By Fg Is Corruption In Itself by oluwasegun007(m): 11:57pm On Jan 20, 2016 |
d sad tin is dat am not sure baba is a member on naira land to rid diz...... BT wait ooooo, u rid d 1800 pages of d budget? ok, I will try 2 bliv u |
Re: Why The N50 Charge By Fg Is Corruption In Itself by 2n2k(m): 12:07am On Jan 21, 2016 |
[b]@ OP, your post reek of ignorance and deceit. You claimed that stamp duty is illegal in banking transactions. Have you read stamp duties act at all? Study the picture of the cheques below in case you don't operate current account and tell us what does 'stamp duty paid' written in circle round the coat of arm on the cheques mean. What just happened since around early 90s was that banks stopped collecting/remitting stamp duty in contravention of the laws with impunity. You should get a copy of any version of Stamp duties Act as amended or re-enacted since 1900 to date to read and purge yourself of ignorance. On your deceitful claim of having read the whole budget document without seeing revenue from stamp duties in it. Really? Currently in Nigeria, there are very few registrable legal commercial documents that do not require assessment and collection of stamp duties by the Commissioner of Stamp Duties - be it, share capital registration, bonds and debentures, deeds of assignment, power of attorney, deeds of mortgage, power of administration etc. so where are the revenue from these captured? Office of the Commissioner of Stamp Duties was created even before Nigeria was amalgamated. (See a 1908 official document picture below). For your education, the next step to be implemented (it is in the stamp duties law already) is that all commercial receipts must bear at least N50 postage stamp. So if your buy a phone from Okey shop at ikeja along, he must affixed the stamp on the receipt and sign across it. So get ready to carry your ignorant fight to the United Nations.[/b] 1 Like
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Re: Why The N50 Charge By Fg Is Corruption In Itself by idupaul: 12:13am On Jan 21, 2016 |
Utchman1: Its not my fault that you still can't grasp what we are talking about..it's actually the fault of ur below par brain |
Re: Why The N50 Charge By Fg Is Corruption In Itself by PrinceVictorE(m): 12:13am On Jan 21, 2016 |
Tokt: You are the one talking rubbish. Be it implementation of new law or creating new one, The point is that this law is not favorable to the citizen. Get that straight. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by olanshi: 12:29am On Jan 21, 2016 |
. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by excelbeing099(m): 12:31am On Jan 21, 2016 |
That's suck ....its scam anyway!!! |
Re: Why The N50 Charge By Fg Is Corruption In Itself by erico2k2(m): 12:40am On Jan 21, 2016 |
tempest01:I will remind you again its not tax as there is no % hence its a duty,it is taxed to the piece of paper you receive when you make a lodgement,it has nothing to do with all what you wrote up there.Talking of paying out of profits, the Nigerian trader already does that ie in the instance of POS you are charged a % which the retailer passes unto the Buyer.When you say review the base amount, to waht extent, N1M? even at that people will still complain,moreover if you only operate savings account then you got nothing to worry about,I have just a savings account in Nigeria and I wont open a current one cos I do not need it.Back in the days the only benefit of current accounts where the issuance of cheques.If you trade ask your POS and Online transaction to go straight to your savings account then you can transfer to your current account of teh bank of your choice is that so hard to do?.Look in teh world of finance there are loads of loopholes and loads of charges,one has to dig themselves out of the mud and find these loopholes.Nigerians should learn these.You said if they go ahead,its with immidiate effect.So kill your current account asap. 2 Likes |
Re: Why The N50 Charge By Fg Is Corruption In Itself by erico2k2(m): 12:48am On Jan 21, 2016 |
2n2k:Ahah Take it easy on these guys, the problem is most of them are just plain lazy to read and educate themselves,they still wont go and read up the meaning of stamp duty for those still in the dark a STAMP DUTY simply is*** a duty levied on the legal recognition of certain documents** in this case acknowledgement of receipt of funds unto your current account,hence 2n2k gave an example of carrying stamps on receipts.But 2n2k I don't think there will be a physical stamp we have past that stage though. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by cocu25(m): 1:06am On Jan 21, 2016 |
NavierStokes:U deserve an award!... In fayose tone "this government is like nollywood" |
Re: Why The N50 Charge By Fg Is Corruption In Itself by Eluwilussit(m): 1:11am On Jan 21, 2016 |
easrael: Thanks. God bless you, bro. Let the idiiots enjoy their change. Some of us warned them but they refused to listen. Nigerians, ntorrrrrrr! |
Re: Why The N50 Charge By Fg Is Corruption In Itself by tempest01(m): 1:15am On Jan 21, 2016 |
erico2k2: well, it doesnt affect me right now, but i worry when I come back, how it will. That said, I am for anything that will move the country forward. Let the revenue be used mostly for capital projects and used judiciously and there should be a review of salaries at the top level to reflect current conditions. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by nike4love: 1:25am On Jan 21, 2016 |
Yorubago:Don't mind the arrant nonsence guy,so building economy that doesn't depend on oil is collecting N50 from every nigeria. Hahahahahahaaa nigeria is the funniest place on earth. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by poseidon12: 1:56am On Jan 21, 2016 |
We have really entered one chance with this dubious man Buhari as president. Hopefully in 2019, Nigerians would be more careful in voting. |
Re: Why The N50 Charge By Fg Is Corruption In Itself by labishop: 2:13am On Jan 21, 2016 |
[b][/b]Join the trending gist on twitter #50stampduties ;DJoin the trending gist on twitter #50stampduties
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Re: Why The N50 Charge By Fg Is Corruption In Itself by samofson: 2:47am On Jan 21, 2016 |
I thought the stamp duty act of 2004 referred to securities transactions ....where did it say it's for every bank transactions including deposits of over 1k U learn everyday in this naija .stamp duties are normally for immovable properties,credit card transactions (ireland) securities,bonds etc. I have never heard were your day to day bank transactions are charged a stamp duty yax . What is Nipost even providing that they have to charge this tax ? Or are we now in 1939? If they have called it galaxy back bone or IT services Tax it would have been more believable but stamp duty tax in 2016!!!!! Give me a break. |
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