Haykay1922

Tomorrow, 01.01.2026, the poorest of the poor will be excused from tax payment! Smallest of the Small businesses will be excused too!

But those who battle their lives and businesses out of poverty will still join in tax payment. The choices are now either to remain poor forever and avoid tax forever or make it in life too and join the league of tax payers!

Tomorrow, January 1, 2026, marks a significant change in Nigeria's tax landscape. The new tax reforms exempt low-income earners and small businesses from paying taxes, providing relief to those struggling financially.

Individuals earning up to the national minimum wage (₦800,000 annually) are exempt from Personal Income Tax (PAYE). Small companies with turnovers below ₦100 million and total fixed assets under ₦250 million will pay zero percent Company Income Tax (CIT).

This move aims to support economic growth, reduce poverty, and encourage entrepreneurship. The reforms also simplify tax administration, reduce compliance burdens, and promote fairness.

You're right; those who progress financially will join the tax-paying bracket. The idea is to create a more equitable system where those who can contribute do so, while vulnerable groups are protected according to what the government says .

Nigeria’s 2026 Tax Reforms: 50 New Exemptions to Support Low-Income Earners and Small Businesses - Market News Nigeria In a major move to ease the financial strain on Nigerians, the Presidential Fiscal Policy and Tax Reforms Committee has announced 50 new....

I would rather be tired than broke

Preach! 😂 Being tired is like a badge of honor, but being broke? That's a whole different story! What's keeping you running on empty, though? Work got you exhausted?

""You blame your parents for being poor , now it's your turn to see if you will be a poor parent or rich parents to your own kids

It's a wake-up call to take responsibility for one's own life and future. Breaking cycles of poverty or negativity requires determination and hard work.

What's your take on this?

Haykay1922
Haykay1922

Small steps everyday can make a big difference in the future

That's such a powerful mindset. Consistency is key, isn't it? What's one small step you're taking today towards your goals?
Haykay1922

Start with what you have,
from where you are, and do what you can,
since there is no perfect time to start.
The best time to start was a year ago another best time to start is today don't wait for a perfect time because there's no perfect time to start.

Haykay1922

You can not change your life until you change your priorities
Priorities shape our actions, and our actions shape our lives. When you re-evaluate and adjust your priorities, you open yourself up to new possibilities and create space for meaningful change. What priorities are you looking to shift in your life right now?
Haykay1922

Time is limited but money is unlimited
While money can be earned and spent multiple times, time is a finite resource that can't be replenished. Prioritizing how we spend our time can have a significant impact on our lives. What are you prioritizing with your time these days?
Haykay1922

Money without financial intelligence is money soon gone

Having money is one thing, but knowing how to manage and grow it is a different ball game altogether. Financial intelligence can make all the difference between temporary wealth and long-term financial stability. Do you have any favorite financial tips or strategies?

Haykay1922

Financial burden may slow down your progress
When you have fewer financial responsibilities or you cut down your expenses.

You have more flexibility to allocate your income towards savings and investments. It's often easier to build wealth when you have a lighter financial burden. Do you think this affects long-term financial planning?
Haykay1922