The Inconvienent Truth! 👊

Wie immer nichts Gewaehr

[The Inconvienent Truth! 👊 @riteousfada]

@elonmusk 😂😂😂😂 Eloonnnnnnnn! No one does it bera!!!! @elonmusk for a thousand years 😄 wins the day!

[The Inconvienent Truth! 👊 @riteousfada]

@lindaikeji I flew @EGYPTAIR once and swore never to use it again

[The Inconvienent Truth! 👊 @riteousfada]

@randomworldke This guy shld go and sit down somewhere and take pure water abeg 🤣. I was in Kenya as an expat working in Gigiri Nairobi. He has totally misrepresented Kenya ( for what ever reason I do not know). People are the same everywhere that don't mean say Kenya bad!! Oga which one 😂

[The Inconvienent Truth! 👊 @riteousfada]

@emma_bishop1 @FinPlanKaluAja1 @grok The thing tire me

[Narendra Modi @narendramodi]

Thankfully, this interaction required only a selfie, no undercover work! #Fauda

[The Inconvienent Truth! 👊 @riteousfada]

@narendramodi Hahaha 😂🤣 yea true! I loved the movie and still love the actors /actresses! 💕

[The Inconvienent Truth! 👊 @riteousfada]

@FinPlanKaluAja1 Is this picture real???? 😲😧

[The Inconvienent Truth! 👊 @riteousfada]

@RajiOer @SawyerMerritt @grok The thing tire me , tire grok sef! I no understand shishi 😂. Elon musk wound us 😂

[The Inconvienent Truth! 👊 @riteousfada]

@FinPlanKaluAja1 But again, .... The Russian Bear has been known to pull back from the brink , with fate seeming to favour it at the nick of time. It's an interesting time in world history ...again!

[The Inconvienent Truth! 👊 @riteousfada]

@amanwifname @FinPlanKaluAja1 Strategic I would say! But I agree with U totally

[Kalu Aja @FinPlanKaluAja1]

New Tax Reform

If you earn personal income below N800,000, you pay zero income tax

Your company has a turnover below N50m, and you pay zero corporate income tax

The significant change under this tax law is that you have to invest or make certain purchases to avoid taxes legally

Tax avoidance is legal, tax evasion is illegal

Under current law (until December 31st 2025), you get 20% of gross income plus a N200k or 1% of gross, whichever is higher, as tax relief automatically; the new law does not make this automatic, you have to invest to claim a deduction

Invest in what?

1. Open and contribute to a Retirement Savings Account
2. ⁠Buy life insurance for you and your spouse
3. ⁠Open and contribute to the National Health Insurance Scheme
4. ⁠Open and contribute to the national housing fund
5. ⁠If you pay rent, you get 20% relief on rent paid, subject to a cap of N500,000

Scenario

So I am unemployed, my uncle in the US sends me $100 paid to my Nigerian bank current account

1. Do I pay income tax? On N100,000 paid into my account? No, below N800,000, but I pay other taxes like VAT, electronic transfer

2. I buy BTC with my N100,000, sell for N200,000, make N100,000 profit, do I pay income tax on N100,000? No, below N800,000, but I pay other taxes like VAT, electronic transfer

3. I buy BTC with my N100,000, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? Yes, income above N800,000, plus I pay other taxes like VAT, and electronic transfer

4. ⁠I buy BTC with my N100,000, but under my company name, sell for N2,000,000, and make N1,900,000 profit. Do I pay income tax on N1,900,000 profit? No, profit made under the company name, but I pay other taxes like VAT, and electronic transfer

5. ⁠Does my business pay tax on N1,900,000 profit? No, turnover less than N50m, but the company pays other taxes like VAT, electronic transfer

Do you have a registered company?

What should you do next? Get tax advice.

6. Gather your friends, contribute money, and hire a tax professional to speak to your “club” and pay the fees.

7. Hire an accountant

Tax is not a Twitter discussion

[The Inconvienent Truth! 👊 @riteousfada]

@FinPlanKaluAja1 Sound analysis... Smiling. Simple but true

[The Inconvienent Truth! 👊 @riteousfada]

@FinPlanKaluAja1 Behold the black man! The Negro ...the Negro 😊😊

[The Inconvienent Truth! 👊 @riteousfada]

@FinPlanKaluAja1 @GQ23401 The skill with which you don't suffer fools is astonishing... Speaks of a steady hand and sound mind. Impressive Kalu! 😊

[The Inconvienent Truth! 👊 @riteousfada]

@ibytoria @MTNNG @AirtelNigeria @channelstv

[The Inconvienent Truth! 👊 @riteousfada]

@AirtelNigeria your 4Gsmartbox I bot last week sat has not worked once. Your customer care is a shame. True to what colleauges told me not to patronize ur service and adviced favouring @MTNNG @Spectranet_NG ... If it's not working just change the device ... But not Airtel

[The Inconvienent Truth! 👊 @riteousfada]

@AirtelNigeria your 4Gsmartbox I bot last week sat has not worked once. Your customer care is a shame. True to what colleauges told me not to patronize ur service and adviced favouring @MTNNG @Spectranet_NG ... If it's not working just change the device ... But not Airtel

[The Inconvienent Truth! 👊 @riteousfada]

Airtel will drown you in an avalanche of incompetence , horrible network and shameful customer service. If I had known would have stuck with @mtn or sprectranet @airtelng ... Horrible

[The Inconvienent Truth! 👊 @riteousfada]

@BeckyKadu Fate made me work and live in Nairobi for 6 months + ... The inscrutable ways of that trickster called fate 😂