WHAT THE SAY (in small letters) ABOUT THE COMPONENTS OF THE TAX REFORM BILL VERSUS WHAT COMRADE IG WALA SAID (IN CAPS).

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Any business with less than N50million turnover are exempted from tax payment.

REGIONS AND STATES THAT HAVE MORE OF SMALL SCALE BUSINESSES WILL NOW BE CONTRIBUTING LESS IN THE FEDERAL COFFERS AND WILL BE EARNING LESS FROM THE DERIVATION.

over 90% of workers in public and private sector will no longer pay income tax.

SO THAT THEY WILL NOT HAVE A SAY AS TAXPAYERS OR PSYCHOLOGICALLY EXEMPTED FROM HOLDING THE GOVERNMENT ACCOUNTABLE.

Over 82% of what low income persons consume will be VAT free.

LIKE FOOD STUFF AND ALCOHOL SO THAT REGIONS THAT ARE KNOWN FOR FOOD PRODUCTION WILL NOT EARN MUCH AND WILL NOT CONTRIBUTE MUCH

scrapping over 50 nuisance tax suffered by local businesses.

LIST THOSE NUISANCE TAX HERE FOR US TO EXAMINE ALL.

VAT will no longer be calculated base on where the companies have their headquarters but where their goods are consume.

O’ YES! BECAUSE THERE WILL BE NO VAT ON WHAT THE LOW INCOME PERSONS CONSUME. ALSO, THE COMPANIES ARE FREE TO ALSO HAVE THEIR OFFICES ACROSS THEIR CUSTOMERS LOCATIONS. WHAT A MANIPULATION!

the rich to pay more tax while the poor will stop paying taxes.

AND THE POVERTY LINE BECOMES WIDER, WHAT A SMART WAY TO ELIMINATE THE MIDDLE CLASS WITHIN THE ECONOMIC SYSTEM. BESIDES, EVERYTHING IS OWNED BY THE RICH, SO, IT IS THE POOR THAT WILL SURE PAY THE TAX WHEN PATRONISING THE RICH VIA RENTS, PRODUCTS OR MEDIAL TREATMENTS, ETC.

Consumption tax collected by states will be eliminated completely.

BECAUSE SUCH PRODUCTS ARE MADE FROM LOCAL AGRICULTURAL PRODUCE. THOSE FARMERS ARE TURNED INTO SLAVES. BREWERIES WILL BE BUYING GRAINS CHEAPLY BECAUSE THE COST WILL SURELY DROP.

FG share of VAT to reduce from 15% to 10% as states and LGAs now get 90%.

FOR LG AND STATE GETTING 90% OF 60%, THEY ARE TRICKED BY THOSE WHO HAVE TAKEN 40% TO SHARE IT BASED ON THEIR SELFISH MOTIVE.

Those earning less than N1.7m monthly will now pay less income tax.

MEANING MAJORITY OF THE CITIZENS WILL BE REDUCED TO A CLASS OF IRRELEVANT AND NON TAX PAYERS WHOSE OPINION DOES NOT COUNT OR MATTER.

Customs, NUPRC and other govt agencies will no longer collect tax as only one Agency will be responsible for collection of all taxes in NGR.

AND SO WHAT? WHEN THE TAX WILL STILL BE COLLECTED BY THOSE UNDER THE CONTROL OF YOUR POLITICAL STOOGES! BESIDES DOES IT STOP CORRUPTION?

Those receiving less than N9million per anum could have their income tax cut by half.

BECAUSE THEY ARE AMBUSHED IN OTHER SERVICES RELATED TO SCHOOLS, HOSPITAL, ELECTRICITY, BANK CHARGES, ETC.

The bill could lead to abolition of other multiple tax laws like the stamp duty act.

COULD LEAD TO… THIS IS SPECULATION.

Over 90% of small business would no longer pay profit tax.

BECAUSE MANY OF THEM WILL BE ELIMINATED AND THOSE EXISTING WILL ONLY BE WORKING TO PAY RENT IN PLAZAS AND HOUSE THAT ARE OWNED BY THE RICH. THE BANK CHARGES, ELECTRICITY AND LAND CHARGES ARE MORE THAN THE SO CALLED TAX YOU ARE SINGING.

Gradual increase of VAT from 10% in 2025 to 15% in 2030… With almost every goods consume by low income earners exempted from VAT.

GRADUAL EMPOWERMENT OF THOSE STATES THAT ARE SEEKING FOR SPECIAL STATUS AND GRADUAL IMPOVERISHMENT OF THOSE COLLECTING LOWER TAX.

Many NGR companies pay over 60 types of different tax & levies. The bill seeks to end this factor killing NGR industries.

CONSOLIDATING NUISANCE TAX VIA A SELFISH REFORM CANNOT BREATH LIFE INTO INDUSTRIES, BUT PROVISION OF SECURITY AND ELECTRICITY BACKED BY GOOD ECONOMIC POLICIES ARE THE LIVEWARE OF INDUSTRIALISATION.

THANK YOU.
COMRAGE IG WALA

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