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Nairaland Forum / Nairaland / General / Politics / Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue (23897 Views)
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Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by Mariory(m): 4:16pm On Aug 20, 2019 |
chinedu234: Most economists worth their salt know that the value of the Naira flunctuates with the price of oil becuase it is currently our major export. So your calculation must acknoweldge that the price of oil between the two periods is vastly diferrent. |
Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by chinedu234(m): 5:29pm On Aug 20, 2019 |
Mariory:A look at the entire economy is different from the issue of vat that Fowler threw up. But in case you have a more elaborate explanation than the one he brought forward to compare 2012 and 2018 vat collections please put it up. We shall dissect it. Just bear in mind the actual meaning of vat. What I accuse the present government and Mr Fowler of is either hypocrisy or ignorance. |
Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by Mariory(m): 7:07pm On Aug 20, 2019 |
chinedu234: No we're talking about the value of the naira to the $ which you brought up. You cannot compare the value of Tax revenue of both periods in $ without taking into consideration the value of oil in both periods due to the type of economy we have in Nigeria. As a result I do not see any hypocrisy or ignorance. |
Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by chinedu234(m): 7:37pm On Aug 20, 2019 |
Mariory:Okay. 1. The factor responsible for the fluctuations in forex rate brought about inflation rates which were responsible for the different nominal values of the vat collections. In other words,the underpinning factor of usd is the only acceptable denominator to ascertain estimated values of the collections. Since the government and Fowler were interested in comparing nominal values over time without inputting the impact of other variables (hypocrisy),it became a duty to inform them about the availability of the appropriate economic viewpoint. I rest my submissions here believing that those who truly wanted to be informed have benefited immensely from both theoretical and practical economics experience of some decades. |
Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by hawwal84: 10:22pm On Aug 20, 2019 |
chinedu234: Thanks for your kind insights. |
Re: Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue by Mariory(m): 9:01am On Aug 21, 2019 |
chinedu234: That's all well and good but before you "rest" your submissions, can you tell me what variables they failed to input when they compared the Tax revenues from both periods? Discerning minds want to know. |
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