So we (I) have started doing the numbers. It would appear we will be trading one form of taxation for another form of taxation when we move back to Naija. At the moment I currently pay Income Tax, National Insurance Tax, Car Tax, Road Tax, Council Tax etc. These are the ones that come easily to mind. Oh yes we also have to pay a daily tax to drive into London as well as paying to actually park in London because if we don't we will end up with a parking ticket ( not classified as a tax but might as well be. Have you tried parking in London recently?)
So my intel tells me that I can leave all this behind and escape to Naija where as far as I am aware there is no tax. So immediately I will be holding on to at least 45% to 50% more of my salary. This sounds fantastic and I cannot wait.
To prepare I have done a spreadsheet for myself and Iyawo (after patiently explaining that this does not mean we can afford more guns) to show where our money will be going when we get "on ground". So far I have:
School fees - with four chllin it would appear that a large part of my moolah will be disappearing into the pockets of private school proprietors. I have no issue with this having attended private school myself back in the day (ADRAO). However I do not recall American International\BIS charging $12k per annum (ouch) or a $6k entrance fee. (For that sort of fee I would expect to be entering Beyonce!) or is it just relative?. I am sure it will be worth it (the school, not Beyonce as I am already taken. Obviously) as an investment for their future.
Rent - we will need a serviced flat for at least a year in order to get everyone settled in. The last thing I want is to be carrying jerry can around looking for diesel and water for middle of night. Trust me Iyawo would be back in blighty on the next flight. (She is already demanding a standby ticket so that she can leg it at the earliest opportunity. Whatever happened to for better for worse? She says she can't actually remember uttering those words during the wedding ceremony. Must have been all the champers.)
Support services- house helps and drivers. We will probably need at least two of each. We have decided that we will also get a nanny from abroad for the first year with local help to support whilst the kids pick up the lingo and culture. Don't want to drop them in at the deep end. Ajebutter to aje akara in one go could prove a bit too much.
As far as I can work out that is it. Or is there income tax in Naija and if so how much? Otherwise it appears that I will be living high on the hog as I will have so much spare cash from not paying those UK taxes (making me even more attractive to armed robbers). Or am I missing something?
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8 comments:
No you are not missing anything...yet.
Best Wishes as you relocate. I pray you will have good testimonies only to tell us about ur relocation to naija nad not bad tales. As for being attractive to armed robbers, I pray God's protection upon you all. Cheers!!!
I have you bookmarked, will definitely be checking for updates.
Who knows this could be the start of "the return of naijas in the diaspora", as life in the UK becomes tougher by the day (interest rate rises, energy bill rises,chavs,immigration,crime,terrorist fears,house prices,taxes etc).
I think one thing i realised from my recent trip to naija is that a lot of us 'equate Lagos to Naija'. My advice to anyone relocating, is to avoid living in Lagos if you can. Ibadan or Abeokuta are close enough and offer a better quality of life.
Surely you're missing out on the highest tax of all in Naija - family tax. Big oga don return. I can see the queue lining up now..
You know what they say “East or West Home is the Best” go for it the more the merrier, I’m hoping that soon there will be critical mass, and we can claim back our Country, however…………
Taxes in Gidi, where do you want to start from, 1st and foremost, checkpoint tax, if you don’t pay it personally, then your workers will.
Then there is your uncles 2nd cousins’ brother in law tax, then I suppose u want to build a house in Lagos prob Lekki, N600k for Mr. Tinubu, untold amounts for the area boys while your purchasing materials and labour.
Remember the reason you pay taxes, not for Mr. Prescott’s Jags but to provide social services, so no NHS, go and register at one of the better Hospitals see how much that cost you, God forbid you need serious medical treatment.
Remember that because of the roads you might need 3 or 4 cars in the house and talking about cars, forget waiting 2 yrs between services, oh and when was the last time u had a puncture, insurance is 5% of the value per yr, forget about claiming unless its a write-off welcome to the land of Okadas and drivers (necessary evil), look outside at your immaculate 5 yr old car, give it a yr in Gidi.
But I'm sure you've taken all that into consideration..
Hey Toks don't let Babatunde scare you.
It's not that bad. Really.
i dont think its that bad either, except that you might have to consider those people that will sell you product and services at exorbitant price, just because you are from ilu oyinbo.
and watch out for aso ebi as well.
LOL at Jeremy's comment on family tax - how true!! Jeremy are you heavily taxed? LOL!!!
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