November 30, 2016

Here's What Is Killing Many Small Businesses In Nigeria

Exorbitant taxes and rates by government agencies...is a big issue. Someone put money together and sets up a business, employing people without any support whatsoever from the government.

And what next? In less than one month government agencies have hit the business with taxes of over N800,000. The latest one they just got is N200,000 and they are expected to pay in 3 days.

This is a restaurant, not even a factory. How reasonable are these taxes?

13 comments:

Chioma Ujo said...

And the huge part of that money goes to their individual pockets and not the treasury. It's frustrating and annoying.

Iliyasu sulaiman sani said...

Seriously! it's the truth.

Hassan Aderemi said...

Government is meant to protect & encourage small scale entrepreneur not to drive them away from the business with excessive tax.

cheeks said...

omg..sad

Afoke Maleke said...

These rates are too Exorbitant...coupled with steady buying of fuel,how much profit will one make..indeed Naija is not ready for small Business ..cos these rates would discourage any enterpreneur..there increasing the unemployment Rate..

Ay360 said...

Hmmmm, we really dnt have government, if dos taxes are used for development, we'll b glad 2 pay it

ope alliu said...

Is this not too much,how do we grow in this country with such exorbitant fee

olisayemk said...

This so unfair, how do they now expect small business to grow when all the profit is going on tax. Government should try and do something about this issue

Rosemary Ezeji said...

Very correct including the shop money

Anslem Caesar said...

this is it o! And we don't see what they do with the money. They are indirectly trying to force the person out of business thereby making those working for him/her unemployed. Government! Government! Government! How many times I call una?

Uyi Osamwonyi said...

My brother, those tax are not fixed, they are negotiable to even 10,000 if you follow the right process,that process is illegal and wrong though..

Government are trying their best but the workers in charge are causing all the wahala,i have been able to follow a barrister friend of mine to tax office and found out that,the tax offices in Nigeria are so corrupt that government are not even aware of their shady deals..

For example,they we give you a big money as tax to pay, like 200k and if you prove stubbornness, they will invite the police and lock you up,till you pay that amount and that money is surely going to Government revenue but if you responds well and promise them to come in two days time that you we give them 20,000 they we agree and come to pick the money that very day you promise,no receipt,no tax person we ever visit you again,till the following next payment time, guess where that money is going without receipt?..
Many example plenty jare..All sector in Nigeria need total overhauling.

#GodSaveUsAll.

eniola lawal said...

Thieves

Harbolarkale Niyi said...

I sincerely agreed with you sir OLUFAMOUS