This post made me realize that many of you don't even know what presumptive tax means.
Permit me to educate you.
First of all by law, everyone is required to file taxes by the 31st of March 2027.
That's approximately 2 months after the election, in case you haven't noticed.
Whether you are employed or unemployed, NRS no send your papa. You must file.
What happens if you don't file?
The Nigeria Tax Administration Act provides for:
- ₦100,000 administrative penalty in the first month of failure.
- ₦50,000 for each subsequent month the failure continues.
So what is Presumptive tax?
Presumptive tax establish a simplified tax framework for individuals and informal sector businesses whose income cannot be reliably calculated due to a lack of accounting records.
Now Imagine being a POS operator in Nigeria. Your personal bank account records ₦100 MILLION in transactions in one year. Then the taxman comes asking questions.
You are not a big businessman. You operate a POS stand, help people withdraw and transfer money, and earn commissions on transactions.
But because you use your personal bank account to run the business, ₦100 million has passed through that account in a year.
But if you cannot produce proper records showing what you earned, the tax authority may assess your business using the presumptive tax rules.
Here is where things get serious.
Under the 2026 regulations, qualifying businesses whose income cannot be reliably determined may face a presumptive tax of 1% of actual or estimated turnover or revenue.
If the tax authority lawfully determines that your taxable turnover was ₦100 million, 1% would be ₦1 million in tax.
For those that file taxes, if NRS looks at what you paid for taxes and decides it's too small, the law gives the tax authority to make an additional assessment if it determines that you were assessed below the amount properly payable. They can use presumptive tax to bill you more.
So they will send you additional amount to pay based on their own assessment.
If the tax debt becomes due and remains unpaid, the law also empowers the relevant tax authority, under specified conditions, to take that money from your bank, or from your business partner or your supplier or anyone that is doing business with you.
The scariest part is that they can do this without first obtaining a Court order.
Now ask yourself have you received clear, practical education on these rules before enforcement begins?
Government wants compliance, but compliance requires understandable rules, fair assessments, accessible filing and a genuine opportunity to challenge mistakes.
People should not have to discover their tax obligations through a penalty notice.
Elections have consequences.
You go vote abi you no go vote?
"Look at Nigeria with 45 million people, yet they don't enjoy our standard of living despite their vast natural resources...." -Former Prime Minister of Singapore, Lee Kuan Yew, around 1965.
Singapore observed the madness in Nigeria as an example of how not to be a country. 😭
*BREAKING*
*JARRETT TENEBE'S APC CARRIES OUT ITS THREAT TO SHOOT ADC MEMBERS IN IGUEBEN LOCAL GOVERNMENT AREA*
The Igueben Local Government Chairman has just led a team of gun totetting assailants to attack the entourage of Kenneth Imasuangbon and the Edo Central ADC Senatorial candidate, Hon Herbeta Okonofua. The hoodlum shot fatally at a young man, Jerry Oliha, from ADC ward 6, at the premises of the Enogie of Igueben. The young man has been rushed to the Irrua Specialist Hospital , where doctors are battling to save his life. This shooting is the third time the entourage was shot at today. First at ward 4, and then, at ward 5, of the Local Government Area.
Reports confirm that this is the climax of the series of violent attacks against ADC members and infrastructure that the APC has recently vowed Jarrett Tenebe's threat to unleash AK 47 on Edo people was after all premeditated. Attacks have been reported at Etsako East, Owan West and Owan East, before this one in Irrua. In each of the cases, they have been coordinated by the Local Government Chairmen of those places on the strength of Jarrett Tenebe.
Bullets have been recovered at the scene of the attack and handed over to the police and the Enogie. Canopies, chairs, musical instruments worth millions of naira were all destroyed at the palace premises.
ADC will come out with a comprehensive report on this unfortunate policy of violence of the APC shortly. The DPO of the Igueben Local Government Area has been informed and involved in the unfortunate incident.
Chris Ojeikere
State Publicity Secretary
Keeping everyone (including Africans) completely ignorant about Africa and the central role it plays in the economic and natural world is a core feature of Europeanised education, not a bug.
You're not supposed to know that the DRC is the most resource-rich country in the world, with an estimated $24 trillion sitting under its soil. You're not supposed to know that the rise of "western civilisation" from the 15th century on was entirely made possible by European contact with Africa, and that the resources and labour extracted from coastal West Africa from 1492 onwards are the entire reason why both American continents exist in their current form.
You're not supposed to know that both WW1 and WW2 were essentially wars fought over the right to African colonial domination and expansion, and that even the uranium that was used in "Little Boy" and "Fat Man" dropped on Hiroshima and Nagasaki came from Shinkolobwe uranium mine in eastern DRC. You're not supposed to know that the reason the country of France exists in its current form is because tens of thousands of conscripted West African soldiers fought and won against the Nazis in Europe, and the French thereafter shipped them back to West Africa and massacred them at Camp Thiaroye in Senegal to avoid paying them their due wages.
You're not supposed to know that there was nothing cold about the so-called Cold War, because the vast majority of the hot theaters it was physically fought in were on the continent of Africa. (Zimbabwe, DRC, Mozambique, Namibia, South Africa, Angola, Eritrea, Zambia etc). You're not supposed to know that the ongoing Ukraine war and the war in the Sahel are in fact the same conflict being fought by the same 2 sides, and that the reason France is desperately pushing funding and arms to Ukraine even as it falls into internal crisis is that Ukraine is acting as its proxy army in West Africa, as it tries to regain its lost colonial territories there, especially Niger where the cheap yellowcake uranium for its famously cheap nuclear energy used to come from before the 2023 revolution.
You're definitely not supposed to know that the entire global economy and system of trade as you know it is built on ruthless extraction from Africa and ensuring that Africa does not control anything it exports. You're not supposed to know that "Italian leather" doesn't come from Italy - it comes from Kano, Nigeria. You're not supposed to know that "Swiss chocolate" does not exist because cocoa does not grow anywhere in Switzerland or Europe - it comes from Ghana, Cote d'Ivoire and Nigeria. You're not supposed to know that Israel and the UAE control the global diamond and gold markets even though Israel has no diamond mine and the UAE has zero gold mines, because both resources are literally being stolen from the DRC and Sudan on an industrial basis.
You're basically not supposed to understand that the entire geopolitical world as you know it, rests entirely on extraction from Africa, poverty of Africans, and your own ignorance about where everything you use comes from.
Completely deliberate 500+ year-old feature, not accidental bug.
This is a Must watch!!! Every Single Nigerian needs to watch this and Reshare it Massively! Every one needs to see What APC Has done to Nigeria in the last 11years!
A MUST-WATCH VIDEO 🚨
Unbelievable video showing a doctor explaining the right sleeping position and revealing how certain sleeping positions may put people at risk while sleeping. 👀
Please repost to help others see this.