Tomiwa69:

10 times keh
200 times sef
Person dey tell them Next level. Dey no look back on the level dem dey before Advancing to next level.
We die here together.
I pray any APC zombie Trying to run.may His/her visa not be Approved. If approved.Xenophobia fall on them

Amen!

jkendy:

Next level go sweet Die Aje

Ghana in 2017 introduced a new VAT flat rate scheme (VFRS) of 3% for retailers as against the existing normal rate of 17.5%. Debate, similar to that VAT, as to the tax incidence and the cascading effect on businesses in the distribution chain ensued. The Revenue Authority and retail businesses are content that VFRS will mitigate the tax burden of consumers and simplify its calculation.

https://ideas.repec.org/a/asi/adprev/2018p213-225.html

No wonder that country is growing fast.

awgumayor:
7% vat. No wonder Nigeria is undeveloped. People want good road, constant power supply, other good infrastructures but don't want to pay tax. How can the country develope with meagre 7% vat.

You don't want to have sense still ko ? Na your type no dey contribute anything to family or country oo..Swear to God do you have 50k cash anywhere on Earth?

Buhari is a curse to Nigeria

awgumayor:
7% vat. No wonder Nigeria is undeveloped. People want good road, constant power supply, other good infrastructures but don't want to pay tax. How can the country develope with meagre 7% vat.

Never compare apples to oranges.

Think about unemployment rate, income per capita and other key development indices before you make such pronouncements, else you end up sounding like an 'educated' illiterate, or worse, a buffoon.

salbis:
Canada, Singapore and UAE pays 5%, 7% and 5% respectively, and they are under developed countries abi?

Don't mind the Dullard

Klington:

.....a man who goes to bed with itching anus must be sure to wake up with smelling fingers

Tomiwa69:
Next level go sweet Die Aje

Like seriously ehhh!!!

jchioma:
From 5% to 7.5%; they should make it 10%. Abi no bi next level dem call am?

lol

This too shall pass

FarahAideed:


You don't want to have sense still ko ? Na your type no dey contribute anything to family or country oo..Swear to God do you have 50k cash anywhere on Earth?

Haha Lmao .

bros nawa fr you o

HummeSage:




So what happens to the millions barrels of crude oil been exported out of the country on a daily basis. What are they using the money for?
And including the so called recovered looted funds, what are they using it for that they are still trying to milk us dry?
What a clueless and failed government.

well, the problem with Nigeria is corruption and mismanagement. In a sane country, most money from the crude oil will be used to subside some commodities, subside electricity, grant free medical treatment, free education for primary and secondary schools etc. Over here it's three times to Nigeria and people don't joke with it. You can't tell them there is no electricity when they know they are paying tax.

awgumayor:
well, the problem with Nigeria is corruption and mismanagement. In a sane country, most money from the crude oil will be used to subside some commodities, subside electricity, grant free medical treatment, free education for primary and secondary schools etc. Over here it's three times to Nigeria and people don't joke with it. You can't tell them there is no electricity when they know they are paying tax.

U already said it all ........corruption and mismanagement is our greatest problem here in Nigeria. I bet you, if u come down here to my area and see how many vessels depart with crude oil on a daily basis, u will be wondering where the whole of the money realised from all the crude oil sale going to.
They are constantly loading here in Ecravos and also Forcados terminals too in Delta State. Different different vessels comes in and load crude oil constantly and still the federal government is still increasing tax for the citizens. What a failed system.

Next level. Sai baba

When a government has no fresh ideas to innovate, they resort to taxation.

Other economies are cutting taxes to stimulate the economy, these ones think the only way to raise revenue is to collect from the already suffering population

bonnylight003:
Nice one from the president .... Shebi Dem dey celebrate on the rogue judgement..like say one part of the country dey enjoy pass another..

Increase pump price and make vat 10... Some section of this country must recieve sense byy force..

..there is an adage in Yoruba that says ,Alfa to o ni iyan aamu ọmọ rẹ ko ni jẹ tira (..a Muslim cleric that saw a revelation of onset of famine in the land , his household will surely shares from the suffering...so ,keep praying for hard time ,or keep getting happy for evil that is befallen the country,your families, in-laws, friends,well wisher, confidant,will surely shares from it ,even if u bolt away

awgumayor:
7% vat. No wonder Nigeria is undeveloped. People want good road, constant power supply, other good infrastructures but don't want to pay tax. How can the country develope with meagre 7% vat.

That is not the only Tax piad in this country oooo and moreover why is it taking them so long to pay the new minimum wage and so quick to increase VAT? That's how they are. They have collected what will be given and more

Hallmark of the redundant. Clueless. Lifeless, self serving coupist!
.....and damn the useless father of any bind asslicker that quotes me to spit trash in advance! Baaaaastards!

Dee60:


You dont understand the dynamics. There is a large percentage that they cannot get 1% VAT from due to the way business is done here and due to lack of transparency.

So, Mr A sells a phone and does not charge VAT because FIRS cannot move near him and because the phone came through illegal channel into the country. Mr B sells the same phone at a price that is 7.5% higher than Mr A. Who will you buy from? Will you buy the cheaper or the more expensive? That is why the increase is counter-productive. They are killing genuine businesses who are paying their dues!

The fight should have been to make everybody pay, but is seems they lack the will or the drive to make that happen.

We have dumb people leading us.

Instead of tightening our fiscal policies and cut out waste they are tightening the wedge around people's neck.

Nigeria thrives on inefficiency and like passing the buck and looking for quick fixes. I guess this is one of those. In their head, they are looking at the numbers and thinking they could increase income by the stroke of a pen. They are forgetting that consumer purchase index is at an all time low(people only buy neccessities) and VAT is a tax on the end user which invariably would deter more purchases.


I wouldn't be surprised if the country ended up in another recession in the next 1 to 2years.

CharleyBright:
Buhari the Holy Looter.
You increase VAT by 2% to make more monies for Abba Kyari to loot on your behalf.


Buhari what has happened to all the Abacha loot that was returned to your govt?
What has happened to the monies derived from the pump price increment by your govt?
What has happened to the stamp duties your govt introduced?
What has happened to all the monies you have been borrowing upandan and putting the country into huge debts?
And yet you have refused to pay the 30k minimum wage that you deceived Nigerians that you will pay in order to get their votes.
The next thing will be for you to increase pump price again.
All in all, nothing to show for it.
You are just a wicked corrupt looter.
A petty thief in Aso Villa. Wolf in sheep clothing.
Continue to inflict hardship on Nigerians while you eat our monies dry.

I don't blame you, I blame the useless people that calls themselves your supporters.
God will judge you and your crook uncle Abba Kyari.

It's actually 50% increase.

The next level loading

The Rubber stamp National Assembly will stamp and approve anything and everything. We know how they came in. Like the Judiciary they are in Buhari's pocket also. Next level thing even going higher.

olatade:


https://www.thecable.ng/breaking-fec-approves-increase-in-vat-to-7

hehehe... no more Restaurants, Eateries and anything that charges extra 7% to the cost of goods again..

am beginning to love this man.

scammers. Wetin tax don ever do for us? That 7.2na to bring confusion in calculation. Una for kuku say 10%

GidiWoodsMan:


Never compare apples to oranges.

Think about unemployment rate, income per capita and other key development indices before you make such pronouncements, else you end up sounding like an 'educated' illiterate, or worse, a buffoon.

You did justice with your response.... God bless you

a lot of blind Buhari followers with little or no understanding of basic economics are all over this place...

Nigeria we hail thee,this tenor will soon be over Is a matter of time

That simpleton or simpleo or whatever he calls himself. That worships buhari like an Oracle will never comment on this type of topic. To those who brought him back or supported his rigging . That is what I have for you guys.

I believe he raised the tax to compensate for the impending minimum wage increase.


I have always said that the minimum wage increase was a bad idea but people did not listen.
Improve working condition like free health, free education for at least 2 family members . Free transportation but they wanted salary increment. How do you expect the govt to effectively fund it?. I am expecting fuel price increase very soon.

The govt will always find a way to compensate..

awgumayor:
7% vat. No wonder Nigeria is undeveloped. People want good road, constant power supply, other good infrastructures but don't want to pay tax. How can the country develope with meagre 7% vat.

How much vat do you think should be charged? Do you know how much Nigeria is making from oil?

Minimum wage u no give