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the economy part 4 - tax structures

Nigeria has the worst Tax structure- is so expletive we don't have to bother to define it - if you are self employed you would understand what I am saying better- now, if you do a government contract upon payment govt deducts 5% vat and 5% withholding tax - now u have used your own personal money to fund this contract, the money leaves your personal account, the job is done and comes back with tax deductions into your corporate account (because they only give contracts to companies) - this inflows have been charged already, ie tax paid (or taxes deducted from source) now the tax authorities would tell you to come with ur statement of account every month end and tell you, from your own personal money again you have to pay taxes- after they have deducted taxes from source previously- let's not forget N50 stamp duties - COT and VAT charged by banks on your withdrawal and deposits - now, to the 2nd phase- money is then wired from your corporate account, into your private account and you are told to pay personal income tax (pit) again, isn't Nigerian government the biggest fraudster in the world like this?- all the above hasn't included tax consultant fees- (now what the hell concerns me with a tax consultant, when my statement of account is showing my in flows and out flows, that is if I have to even pay for something that I shouldn't be paying for, they go has high as 2-4% of my income- their is tetfund/education taxes another 4% and still their exists dichotomy in the educational system- and they are still going on strike, we haven't talked about local government taxes and tenement rate charges, but you see- some idiots would be talking about Arabic inscriptions on N100 notes - what a shame expletive idiots

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