chronique:
I'd keep on telling Nigerians how useless the man called buhari is, and why he isn't fit to occupy his current office or any political office at all.

buhari signed an executive order tagged VOARS(voluntary offshore assets regularization scheme) with the view to checking money laundering. Under this law, Nigerian tax payers are expected to voluntarily declare all offshore assets and incomes earned to the federal government. This normally should have been a bright idea in fighting corruption but as usual, the dull thing had to spoil it by insisting that holders of such offshore assets would be mandated to pay taxes on those assets.

Now, there are Nigerians who live and work both in Nigeria and outside Nigeria. Most of these people are business men. So when they hold assets in Nigeria, they are mandated to pay taxes to the government. This isn't a problem. Where there is a problem, is asking them to pay taxes on offshore assets that are already being heavily taxed by foreign governments of those countries thereby, leading to multiple taxation. How on earth do you want to collect taxes for assets that are not under your control and jurisdiction? What benefits would accrue to the holders of these assets "if" they pay these taxes? Would the government be providing security for these assets or providing infrastructures that would improve and enhance the value of these assets? If there are no visible benefits the holders of these assets are getting, what then is the need to tax them? This is just a blatant attempt to take advantage of the citizens while offering them nothing in return. This executive order is totally unacceptable and should not be allowed to stand without modifications. I am in support of declaring all assets but taxing them is tantamount to committing armed robbery.

Ihateyoumod:


Do u have a business abroad??....does this order affect u in any way. Do u even have d capacity to set up a business here not to talk of offshore. U DT doesn't have a penny will wail more than those tht d order affects

Have u asked urself if other countries, western countries do d same??...let those who it affects speak for themselves, what u should be concerned is his it affects u, does it affect u positively or negatively. I don't see how this order affects d common man negatively

Jaideyone:
mumu talk. keep making a fool of yourself.

the law is targeted at getting money from Nigerians that are rich so the money can be used to repair roads and build public hospitals and schools that the poor and average people like you and I will benefit from more but you are still complaining.

your education is a waste!!!

Ihateyoumod:


Do u have a business abroad??....does this order affect u in any way. Do u even have d capacity to set up a business here not to talk of offshore. U DT doesn't have a penny will wail more than those tht d order affects

Have u asked urself if other countries, western countries do d same??...let those who it affects speak for themselves, what u should be concerned is his it affects u, does it affect u positively or negatively. I don't see how this order affects d common man negatively

Racoon:
What utter cluelessness! Violating the sovereignity of a country by coming to collect tax therein? Are Nigerians residing off-shore not paying taxes already to their host countries

Will this misplace policy applies to foreign multi-conglomerate companies doing business in Nigeria with branches/headquarters oversea e.g.MTN, Shopright, UAC etc?

See how the president is disgracing Nigeria still by exporting his cluelessness internationally This will definitively lead to diplomatic row with any country concerned.Any wonder he have F9 in economics and maths?

Rooy57:


Actually I had to quote you on this point. The man is not wrong if you must know. There is what we called "Income from abroad" while calculating National income in economics. It is sometimes refers to as GNP and it does not lead to double taxation or violate tax law. Please read up, we are all learning

sokera:
I swear Nigeria youths are disgraceful, how can a country with a large unemployment rate be angry at a policy that would eventually discourage Nigerians from investment abroad ... Buhari they hate you so much that they can’t even see anything positive from all you have done ... Anyway Sowore is my president

Racoon:
What utter cluelessness! Violating the sovereignity of a country by coming to collect tax therein? Are Nigerians residing off-shore not paying taxes already to their host countries

Will this misplace policy applies to foreign multi-conglomerate companies doing business in Nigeria with branches/headquarters oversea e.g.MTN, Shopright, UAC etc?

See how the president is disgracing Nigeria still by exporting his cluelessness internationally This will definitively lead to diplomatic row with any country concerned.Any wonder he have F9 in economics and maths?

unitysheart:


Before you rant, check if USA and other countries do the same.

Google is your friend.

chronique:


Idiot, me and you no be mate. I've been running a fully registered business in Nigeria for more than 10 yrs now and of course, the policy concerns me cos in the coming years, I'm definitely moving into that category. So speak for your pathetic self. Not everyone online is a riff raff like you.

FarahAideed:


Keep kwayet and learn from her jare ..she is far smarter than you will ever be

AmazingELixir:


PMB is inviting both corporate and billionaires gang up against his government

ezigr8:
How 9ja go take better when hatred don blind our judgement? Nigeria can't move forward with such mentality of ours.

Instead of us analysing it possibility and legality critically we jump in to condemn the scheme. Advanced countries have such laws in place.

Some persons did not even read the content before commenting to condemn Buhari to know whether or not it is beneficial to the country. No wonder a scholar once said, the illiterate of the 21st century is not one who can not read nor write but one who can not learn, relearn and unlearn.

Jaideyone:
you are definitely out of your senses.

the question is do many other countries have similar laws?

and this is a government that is trying to get money from the 0.01% and give it to build Hospitals and roads 99.99% will benefit from!!!

of the money will be used well then it's a good thing!!!

he's trying to take from the rich to better the lives of the poor!!!

Timi1990:


Why would anyone in Nigeria not invest abroad ? The govt haven’t done anything to attract investors

Jaideyone:
see a lot of illiterates insulting buhari when it's obvious developed countries have similar laws


a simple Google search could have saved this multitude from embarrassing themselves.


btw 99.9999% of the people crying don't even own a pin abroad o


https://www.telegraph.co.uk/finance/personalfinance/expat-money/9760320/How-to-escape-the-offshore-property-tax-trap.html

https://international-adviser.com/surprise-dip-offshore-held-property-tax/


https://www.which.co.uk/money/tax/income-tax/tax-on-property-and-rental-income/tax-on-overseas-property-acq0f5m4vw5v

unitysheart:


Before you rant, check if USA and other countries do the same.

Google is your friend.

Racoon:
What utter cluelessness! Violating the sovereignity of a country by coming to collect tax therein? Are Nigerians residing off-shore not paying taxes already to their host countries

Will this misplace policy applies to foreign multi-conglomerate companies doing business in Nigeria with branches/headquarters oversea e.g.MTN, Shopright, UAC etc?

See how the president is disgracing Nigeria still by exporting his cluelessness internationally This will definitively lead to diplomatic row with any country concerned.Any wonder he have F9 in economics and maths?

FarahAideed:
Buhari has gone mad ...The executive order is not even clear at all? Is it targeted at assets made from earnings in Nigeria ( earnings already taxed in Nigeria) or Asset owned offshore as result of income earned offshore ? Buhari is not sensible at all!!!

This is Clearly a ploy to arrest and lock up Atiku for Tax evasion ........I can read the dullard like a book

Racoon:

When all the government does is a propaganda media antigraft fight? Putting alleged corrupt persons on trial then go sourcing for incriminating evidence?

Still affiirming that the government lopsided anti-
corruption war is just a charade.Even this executive order is only directed to those on the government black book otherwise why was it not initiated when the Buratai Dubai assets were discoverd?

sokera:
Aiit , if companies from SA can come invest in Nigeria I see no reason Nigerians won’t invest here ... let me tell you those people investing abroad are corrupt politicians trying to hide their invest out of the country to avoid investigations... be wise and don’t be sentimental...

positivethought:
other countries collect taxes on properties own by offshore companies in their countries n not on properties own by the citizens in foreign countries, you are the type of people wrongly advising the dullard n cheering him on to his foolish political demised.

BeeBeeOoh:


https://www.premiumtimesng.com/news/top-news/289586-just-in-buhari-signs-new-executive-order-to-collect-taxes-on-foreign-assets-of-nigerians.html