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Nairaland Forum / Nairaland / General / Politics / Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget (25835 Views)
63 Items Exempted From VAT Under New Fiscal Reforms By Tinubu (LIST) / FG Exempts LPG Importation From VAT, Customs Duty / Sanitary pads, 19 others excluded from VAT hike (2) (3) (4)
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Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by samorobo: 11:22pm On Oct 08, 2019 |
Bridget95: Nigerians should not talk about tax cos we don't pay tax...we have one of the lowest tax to GDP ratio in the world...I am willing to pay so long as I would see that money work most especially in infastructure and health care 2 Likes 1 Share |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Naijaarchive(m): 11:31pm On Oct 08, 2019 |
Scam.... Why would you add VAT before? Kuku add VAT for air now 2 Likes |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by stormborn28(m): 11:38pm On Oct 08, 2019 |
seunmohmoh:look at you 1 Like |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by baby124: 11:39pm On Oct 08, 2019 |
Buhari de try though. The only foolish thing in this administration was RUGA |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Nevergree: 11:40pm On Oct 08, 2019 |
seunmohmoh: Chaii!
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Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by HappyPagan: 11:45pm On Oct 08, 2019 |
YorubaNinja:It's easy to shit on Naija youths - call them foolish, lazy, useless, and all other negative words. We are only victims of an unjust society. Maybe you could teach us to think - explain the article in simple words. Show an example to the lazy. 6 Likes 1 Share |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by seunmohmoh(f): 11:59pm On Oct 08, 2019 |
Nevergree:Lol |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by 9gerian: 12:00am On Oct 09, 2019 |
Well, these guys aren’t leaving any stone unturned. They expect Nigerians to be very grateful for this consideration else they VAT / Tax everything. Tax is the only strategy that they know. On a lighter note, I’m happy that these guys (PMB / APC) got their chance after all the castles they had been building in the air for years promising all sorts dramatic improvements. Just like PDP, their time shall surely pass too! klas: 1 Like 2 Shares |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by kaaybest(m): 12:03am On Oct 09, 2019 |
I think the budget is nice and well written but I prayed they gonna act towards this. |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Nobody: 12:07am On Oct 09, 2019 |
[quote author=klas post=82967417]Raw food items have never been vatable items at any time even if you buy them in supermarkets. What is news here?[/] Nothing, except that the unschooled will continue to hail their oppressors. Non processed food items have never been Vat-ed so they have made no concessions to anyone. Wondering why they can’t reduce the cost of governance to reduce expenditures. Why they want to keep squeezing and squeezing already poor, hapless and hard working Nigerians is beyond me. Cut their coat according to their material, they no gree. 5 Likes 1 Share |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by nextstep(m): 12:30am On Oct 09, 2019 |
ursullalinda: Oh don't worry, with 12% inflation, food will cost more next month. But the removal of VAT is very very good... not that most people pay it... when's the last time you paid VAT for any food you bought in the market (not supermarket)? |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by 9jaRealist: 12:52am On Oct 09, 2019 |
1 Like |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by 9jaRealist: 1:01am On Oct 09, 2019 |
Bridget95: VAT is NOT a tax on investment (but rather on consumption)... Nonetheless, one has strike a careful balance in respect of tax policy. It should be too high as to depress consumer spending, but properly applied and employed it could be used to direct investment in certain areas and industries, and to generate additional revenue to support investment in infrastructure (including soft infrastructure in education, healthcare, etc.) that would in turn support private investment. > |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by 9jaRealist: 1:03am On Oct 09, 2019 |
samorobo: You can say that again... That's why I like that the Ambode government usually puts a "Your Taxes at Work" sign on most Lagos projects! > |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by temitopealabi: 1:11am On Oct 09, 2019 |
Take control of your money. [url]Afriex.co[/url] |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by obstead200(m): 1:16am On Oct 09, 2019 |
klas:the news here is bad news, for those who know. We shud expect an FIRS circular telling us that any food item not specifically exempted from VAT becomes chargeable to VAT |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by netflicks(m): 1:23am On Oct 09, 2019 |
DOMINGOPAPI: Ooh! Lord u just said my mind bro 2 Likes |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by sinkhole: 2:12am On Oct 09, 2019 |
SABA2002:oxygen is free? May God not allow you need one in Nigerian hospital! 1 Like |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Edu3Again: 2:18am On Oct 09, 2019 |
ZombieTAMER: You say you defeat Igbos yet you have sleepless nights becos of Igbos! We must all leave you almajiris soon |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by ikorodureporta: 2:42am On Oct 09, 2019 |
They are mostly sold by abbokkis |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by BitCraftman: 2:54am On Oct 09, 2019 |
I am guessing Meat will be next. |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by liverpudian9(m): 2:59am On Oct 09, 2019 |
Food items are exempted from vat under Nigeria tax law |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Bridget95(f): 3:19am On Oct 09, 2019 |
9jaRealist:VAT;Value added tax ,increases the value on products and services and indirectly affect investment choice. Tanzania like many African countries for instance ,placed over 25% VAT on everything goods and services consumed there,this made everything expensive. VAT is a micro Portion of TAX on companies spread on goods and services which is shouldered by end users.investors run away from countries with high taxation.Tax policies are often made by dept redden countries to impress their creditors that they can service their loans ,but the indirect implication is decreased foreign investment. |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by anonimi: 3:19am On Oct 09, 2019 |
ursullalinda: How many of Nigeria's estimated 200 million people buy foodstuff in places where they have to pay VAT? 2%, 5%, 10%? What percentage of the people? Why do you fall easily for cheap gimmicks and miss the real gist of heavier taxes all round for rogues to rob, steal and loot for hiding in London by their messengers? lackren: www.nairaland.com/attachments/10344924_20191005221644_jpeg128b40d59de98d0245ae9fa538e36823 www.nairaland.com/attachments/2529890_image_jpeg9f360c5ab7736510df54c882e9dbf188 1 Like |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Bridget95(f): 3:30am On Oct 09, 2019 |
samorobo:Nigerians are indirectly over taxed. You are made to pay for NEPA bill weather or not you used the system every month. If a company tries that in developed countries like USA ,it will pay huge amount in dollars for theft. Look at petroleum for example,are we supposed to spend that much?There are many like that.There are indirect taxation going on. 1 Like |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by od501: 3:37am On Oct 09, 2019 |
Who be this stray baboon? |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by Softgamer: 3:52am On Oct 09, 2019 |
ki |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by yetunsbay(m): 3:56am On Oct 09, 2019 |
If I see VAT on my bread receipt wey I buy fr Shoprite.....chai......na to sue them ooo |
Re: Yam, Egg, Milk, Fish Exempted From VAT — Highlights Of 2020 Budget by chibyk92: 4:20am On Oct 09, 2019 |
*Buhari said he has directed the stoppage of the salary of any federal government staff that is not captured on the Integrated Payroll and Personnel Information System (IPPIS) platform by the end of October 2019. The current administration had introduced the platform to help manage personnel costs among other reasons. He added that the proliferation of zonal, state and liaison offices by MDAs will no longer be tolerated as part of efforts to “sustain our efforts in managing personnel costs.” “All agencies must obtain the necessary approvals before embarking on any fresh recruitment and any contraventions of these directives shall attract severe sanctions,” he added.* I know some govt officials won't like this part. |
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