Nigerians... About To Pay more % For Using Phones...
The Federal Government has disclosed that telecommunications subscribers would pay five per cent tax on calls, SMS and data services.
Meanwhile, stakeholders in the industry have expressed dissatisfaction over government’s resolve to implement five per cent excise duty on all telecommunications services in Nigeria.
Speaking in Abuja yesterday at the Stakeholders Consultative Forum on Implementation of Excise Duty, the Executive Secretary, Association of Telecommunications Companies of Nigeria (ATCON), Ajibola Olude, said taking cognizance of the hardship in Nigeria at a time like this, the government should rescind its decision to implement the five per cent excise duty on telecommunications operators.
He said government should channel its resources to other sectors to diversify the economy.
“What I am saying is that the proposed excise duty on all telecommunications companies is badly intended by the Ministry of Finance and National Planning and Nigeria Customs. And the current state of Nigerian communication is so bad that only about 756 Internet Service Providers (ISPs) were registered but only 10 is active because of issues of forex. Since it is coming from the Ministry of Finance, I think they should understand that currently Nigeria is faced with inflationary pressure, which is 18 per cent now. If you add this increase, the level of inflationary pressure will come to 19 or 20 per cent.
And this will further increase the level of poverty in the country. So, if you are going to pass this to Nigerians that are already burdened by the hardship in the country, this is not the best time to do so.
“For me, it is not something they should embark upon. It is something they should turn down and leave the country as it is. Nigerians won’t be able to pay this.
“And another direct effect is that it will lessen investment. As a matter of fact, the Foreign Direct Investment (FDI) or Capital Importation will go down because this is a further leakage. It is not just good and I think the best thing the government should do is to develop other sectors.
“They have been collecting tax from the people, they should channel it to steel industry, manufacturing and so many other sectors. That is diversification of fund. It is not something they should implement now. They should consider it and change their decision,” he said.
On his part, Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, insisted that the new tax burden would be passed to subscribers.
According to him, “it is a strange move, it appears a bit unusual. Excise duty is supposed to be apportioned to goods and products, but we are surprised this is on services. We will continue to support government but ALTON won’t be able to subsidise this on behalf of subscribers in addition to the 7.5 per cent VAT, making it 12.5 per cent payable by subscribers to the Federal Government.
“We currently pay a lot of taxes, running into 39 of them, so we can’t add more to the existing burden. We won’t be able to absorb this on behalf of subscribers.”
The Federal Government has disclosed that telecommunications subscribers would pay five per cent tax on calls, SMS and data services.
Meanwhile, stakeholders in the industry have expressed dissatisfaction over government’s resolve to implement five per cent excise duty on all telecommunications services in Nigeria.
Speaking in Abuja yesterday at the Stakeholders Consultative Forum on Implementation of Excise Duty, the Executive Secretary, Association of Telecommunications Companies of Nigeria (ATCON), Ajibola Olude, said taking cognizance of the hardship in Nigeria at a time like this, the government should rescind its decision to implement the five per cent excise duty on telecommunications operators.
He said government should channel its resources to other sectors to diversify the economy.
“What I am saying is that the proposed excise duty on all telecommunications companies is badly intended by the Ministry of Finance and National Planning and Nigeria Customs. And the current state of Nigerian communication is so bad that only about 756 Internet Service Providers (ISPs) were registered but only 10 is active because of issues of forex. Since it is coming from the Ministry of Finance, I think they should understand that currently Nigeria is faced with inflationary pressure, which is 18 per cent now. If you add this increase, the level of inflationary pressure will come to 19 or 20 per cent.
And this will further increase the level of poverty in the country. So, if you are going to pass this to Nigerians that are already burdened by the hardship in the country, this is not the best time to do so.
“For me, it is not something they should embark upon. It is something they should turn down and leave the country as it is. Nigerians won’t be able to pay this.
“And another direct effect is that it will lessen investment. As a matter of fact, the Foreign Direct Investment (FDI) or Capital Importation will go down because this is a further leakage. It is not just good and I think the best thing the government should do is to develop other sectors.
“They have been collecting tax from the people, they should channel it to steel industry, manufacturing and so many other sectors. That is diversification of fund. It is not something they should implement now. They should consider it and change their decision,” he said.
On his part, Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, insisted that the new tax burden would be passed to subscribers.
According to him, “it is a strange move, it appears a bit unusual. Excise duty is supposed to be apportioned to goods and products, but we are surprised this is on services. We will continue to support government but ALTON won’t be able to subsidise this on behalf of subscribers in addition to the 7.5 per cent VAT, making it 12.5 per cent payable by subscribers to the Federal Government.
“We currently pay a lot of taxes, running into 39 of them, so we can’t add more to the existing burden. We won’t be able to absorb this on behalf of subscribers.”
Simple tips that can help you manage your business better.
- Record all your expenses:
This include receipts, invoices, quotations and other paper-proof documents.
- Anytime you receive funds from a customer or client through a corporate bank account, and the client requests for a part of full refund, ensure you return the funds using the same bank account/medium it was used to receive it.
-Don't receive funds from into your corporate bank account from those you don't have business relationship with. Don't receive funds on peoples' behalf.
- Track your business figures :
This could be done either in soft or hard form. You can either input them on an excel sheet (soft form) or get a diary (hard copy). Remember, once it's not documented, then, it's considered not done.
- Bank statements :
Always ensure to put proper narrations after making any bank transfer. This should also apply anytime you're on the verge of issuing payment cheques for services rendered to your business. Just scribe some wordings on the cheque stub.
Wordings like "Payment for Rent" and " Transfer for vehicle Licence " will give your accountant less stress during accounts reconciliation or preparation.
- If your business is heavily cash based, you can inform your cashier to always tell the bulk teller at the bank to give proper narrations to all your transactions.
Narrations like " Cash Sales for Monday 30/07/2020” and "Deposit from Aunty Shade of Ijora photography " would be helpful to your business
The banks on their part should on work their USSD and other related payment platforms in order to make it possible for customers to insert narrations while effecting transfers.
Happy weekend
- Record all your expenses:
This include receipts, invoices, quotations and other paper-proof documents.
- Anytime you receive funds from a customer or client through a corporate bank account, and the client requests for a part of full refund, ensure you return the funds using the same bank account/medium it was used to receive it.
-Don't receive funds from into your corporate bank account from those you don't have business relationship with. Don't receive funds on peoples' behalf.
- Track your business figures :
This could be done either in soft or hard form. You can either input them on an excel sheet (soft form) or get a diary (hard copy). Remember, once it's not documented, then, it's considered not done.
- Bank statements :
Always ensure to put proper narrations after making any bank transfer. This should also apply anytime you're on the verge of issuing payment cheques for services rendered to your business. Just scribe some wordings on the cheque stub.
Wordings like "Payment for Rent" and " Transfer for vehicle Licence " will give your accountant less stress during accounts reconciliation or preparation.
- If your business is heavily cash based, you can inform your cashier to always tell the bulk teller at the bank to give proper narrations to all your transactions.
Narrations like " Cash Sales for Monday 30/07/2020” and "Deposit from Aunty Shade of Ijora photography " would be helpful to your business
The banks on their part should on work their USSD and other related payment platforms in order to make it possible for customers to insert narrations while effecting transfers.
Happy weekend
*Perhaps He Had A Death Wish... Man Got Electrocuted While Trying To Steal Transformer Cable In Lagos
A suspected cable thief was electrocuted while tring to steal from a transformer in the Isale Agbede, lagos island area of Lagos state.
The deceased suspect was said to have been electrocuted when the electricity company restore power while he was trying to steal from the transformer.
A twitter user @hartunday shared a video of the deceased suspect lying unconsciouslyby the side of the transformer.
https://hgsmediaplus.com/2022/07/29/cable-thief-electrocuted-while-trying-to-steal-from-a-transformer-in-lagos/
A suspected cable thief was electrocuted while tring to steal from a transformer in the Isale Agbede, lagos island area of Lagos state.
The deceased suspect was said to have been electrocuted when the electricity company restore power while he was trying to steal from the transformer.
A twitter user @hartunday shared a video of the deceased suspect lying unconsciouslyby the side of the transformer.
https://hgsmediaplus.com/2022/07/29/cable-thief-electrocuted-while-trying-to-steal-from-a-transformer-in-lagos/
HGS Media Plus
Cable Thief Electrocuted While Trying To Steal From A Transformer In Lagos - HGS Media Plus
A suspected cable thief was electrocuted while tring to steal from a transformer in the Isale Agbede, lagos island area of Lagos state.
Edo Index 👌 pinned «Edo Market here 👉https://chat.whatsapp.com/CTYazoYIiqR5jc5sPb2x7P»
Man who Killed Girlfriendand Buried Her In His Narrow Room Just Got Arrested!
The Bayelsa State Police Command has arrested a 27-year-old man identified as Joseph Fekali who allegedly murdered his 'girlfriend,' Kate Ogwoh, a graduate of Novena University, Delta State, NaijaCover Reports.
Fekala, Who Hails from Ikibiri Community, in Southern Ijaw Local Government Area of Bayelsa State allegedly strangled 26-year-old Ogwoh, to death on Thursday night, July 28.
After Allegedly killing her for yet-to-be verified reasons, Joseph reportedly buried her remains in a shallow grave in his bedroom, NaijaCover Learnt.
However, neighbours of the suspected killer claimed that the scene of the killing suggested that his intention was to use the late Miss Kate for a money ritual.
Another Version of the report claimed that the suspect is not a Yahoo boy but a youth pastor and that he killed her over N50,000 debt.
Spokesperson of the command, Asinim Butwat, who confirmed the incident in a statement on Friday, July 29, said the suspect has been arrested following a tip-off by neighbours.
"Joseph Fekala, 27 years of Ikibiri Community, but residing at Okaka, strangled one Kate Ogwoh, f, 26 years to death on 28th July 2022. He buried the deceased in a shallow grave in his bedroom," Butwat Stated.
"The Suspect was arrested following a tip-off by neighbours on 29 July 2022, at about 0800 hours. He is being detained at the State Criminal Investigation Department. The investigation is ongoing.” he added.
The father of the deceased, Sir Dick Oguoh who spoke to journalists at the State Police Command in Yenagoa, said his daughter, an enterprenuer left the house to visit her friend who happened to be a younger sister of the suspect.
He Said they became uncomfortable and frightened when the mother tried reaching her through her mobile phone but it was not reachable.
Ogwo further narrated that when they visited the house at Okaka, the suspect initially denied seeing his daughter, so they became suspicious and decided to report her disappearance to the Police.
He noted that it was in the process of laying a formal complaint to the police, he received a call that the suspect killed his daughter, dug a swallow grave, tied her hands and legs and buried her.
The Bayelsa State Police Command has arrested a 27-year-old man identified as Joseph Fekali who allegedly murdered his 'girlfriend,' Kate Ogwoh, a graduate of Novena University, Delta State, NaijaCover Reports.
Fekala, Who Hails from Ikibiri Community, in Southern Ijaw Local Government Area of Bayelsa State allegedly strangled 26-year-old Ogwoh, to death on Thursday night, July 28.
After Allegedly killing her for yet-to-be verified reasons, Joseph reportedly buried her remains in a shallow grave in his bedroom, NaijaCover Learnt.
However, neighbours of the suspected killer claimed that the scene of the killing suggested that his intention was to use the late Miss Kate for a money ritual.
Another Version of the report claimed that the suspect is not a Yahoo boy but a youth pastor and that he killed her over N50,000 debt.
Spokesperson of the command, Asinim Butwat, who confirmed the incident in a statement on Friday, July 29, said the suspect has been arrested following a tip-off by neighbours.
"Joseph Fekala, 27 years of Ikibiri Community, but residing at Okaka, strangled one Kate Ogwoh, f, 26 years to death on 28th July 2022. He buried the deceased in a shallow grave in his bedroom," Butwat Stated.
"The Suspect was arrested following a tip-off by neighbours on 29 July 2022, at about 0800 hours. He is being detained at the State Criminal Investigation Department. The investigation is ongoing.” he added.
The father of the deceased, Sir Dick Oguoh who spoke to journalists at the State Police Command in Yenagoa, said his daughter, an enterprenuer left the house to visit her friend who happened to be a younger sister of the suspect.
He Said they became uncomfortable and frightened when the mother tried reaching her through her mobile phone but it was not reachable.
Ogwo further narrated that when they visited the house at Okaka, the suspect initially denied seeing his daughter, so they became suspicious and decided to report her disappearance to the Police.
He noted that it was in the process of laying a formal complaint to the police, he received a call that the suspect killed his daughter, dug a swallow grave, tied her hands and legs and buried her.
Tiktok Is Looking To Go More Than Videos... Considering Music Service. What Do You Think?
The short-form video app is already a popular tool for discovering music, and oftentimes can lead to songs rising in popularity after they’re used in viral videos and trends. A report released by the company last year suggested that 175 songs that trended on the short-video platform ended up on the Billboard 100 chart.
In addition, a recent report published by a U.K.-based music investor suggested that songs that are popular on TikTok drive additional views on YouTube and streams on other platforms, like Spotify.
While TikTok drives these songs to be popular, it doesn’t have its own music streaming platform — at least in the U.S. — to make money from them.
Instead, users turn to popular services like Spotify or Apple Music to play their favorite TikTok songs. However, TikTok’s parent company ByteDance operates a music streaming service called Resso in India, Brazil and Indonesia, and we understand it had previously considered bringing this service to more markets.
A former ByteDance employee told TechCrunch the company had weighed launching Resso to various global markets under a “TikTok Music” moniker, in fact. Specifically, it had been considering launches in mature markets like the U.K. and Australia, the source said.
Resso’s app could be a viable threat to existing U.S. streamers given its close ties to TikTok and its social networking aspects. Currently, Resso offers a TikTok-like user interface where users can skip through the songs by scrolling up and down. It also has the option to comment on songs and albums, and edit the cover of users’ playlists — similar to what the TikTok Music trademark suggests.
The app has seen solid progress in its existing markets, mobile data indicates. According to analytics firm SensorTower, the company saw 42.3 million downloads from the App Store and Google Play from January to May this year — growth of 19% year over year for the same period. The music streaming app has had 184 million lifetime downloads overall.
ByteDance’s filing lists numerous use cases for the TikTok Music trademark. One use case listed in the filing for “TikTok Music” includes an app that would allow users to livestream audio and video, along with the option to “edit and upload photographs as the cover of playlists.”
The app would also allow users to leave comments on music, songs and albums, according to the filing. Another use case suggests that the service could be used to “livestream audio and video interactive media programming in the field of entertainment, fashion, sports, and current events.” The filing also suggests the app could be used to “provide users with podcast and radio broadcast content.” The addition of podcast content alongside music would make TikTok Music an even bigger competitor to Apple Music and Spotify.
The news of TikTok’s potential upcoming music streaming service comes as the company launched its own music marketing and distribution platform, SoundOn, a few months ago to help more artists get their music heard.
The platform allows artists to upload their music directly to TikTok and Resso, in addition to global streaming platforms including Apple Music, Spotify, Pandora, Deezer and Tencent’s Joox. With the launch of its own music streaming service alongside SoundOn, TikTok would be able to offer a complete solution for both listeners and artists in the U.S.
TikTok has dominated the short-form video market and was the first non-Meta app to app to reach three billion downloads globally, according to Sensor Tower. Its growth has caused the likes of Instagram and YouTube to reconsider their platforms and business approaches due to the threat they face from the short-form video app. That makes its plans to enter the music streaming space a potential threat to incumbents.
The short-form video app is already a popular tool for discovering music, and oftentimes can lead to songs rising in popularity after they’re used in viral videos and trends. A report released by the company last year suggested that 175 songs that trended on the short-video platform ended up on the Billboard 100 chart.
In addition, a recent report published by a U.K.-based music investor suggested that songs that are popular on TikTok drive additional views on YouTube and streams on other platforms, like Spotify.
While TikTok drives these songs to be popular, it doesn’t have its own music streaming platform — at least in the U.S. — to make money from them.
Instead, users turn to popular services like Spotify or Apple Music to play their favorite TikTok songs. However, TikTok’s parent company ByteDance operates a music streaming service called Resso in India, Brazil and Indonesia, and we understand it had previously considered bringing this service to more markets.
A former ByteDance employee told TechCrunch the company had weighed launching Resso to various global markets under a “TikTok Music” moniker, in fact. Specifically, it had been considering launches in mature markets like the U.K. and Australia, the source said.
Resso’s app could be a viable threat to existing U.S. streamers given its close ties to TikTok and its social networking aspects. Currently, Resso offers a TikTok-like user interface where users can skip through the songs by scrolling up and down. It also has the option to comment on songs and albums, and edit the cover of users’ playlists — similar to what the TikTok Music trademark suggests.
The app has seen solid progress in its existing markets, mobile data indicates. According to analytics firm SensorTower, the company saw 42.3 million downloads from the App Store and Google Play from January to May this year — growth of 19% year over year for the same period. The music streaming app has had 184 million lifetime downloads overall.
ByteDance’s filing lists numerous use cases for the TikTok Music trademark. One use case listed in the filing for “TikTok Music” includes an app that would allow users to livestream audio and video, along with the option to “edit and upload photographs as the cover of playlists.”
The app would also allow users to leave comments on music, songs and albums, according to the filing. Another use case suggests that the service could be used to “livestream audio and video interactive media programming in the field of entertainment, fashion, sports, and current events.” The filing also suggests the app could be used to “provide users with podcast and radio broadcast content.” The addition of podcast content alongside music would make TikTok Music an even bigger competitor to Apple Music and Spotify.
The news of TikTok’s potential upcoming music streaming service comes as the company launched its own music marketing and distribution platform, SoundOn, a few months ago to help more artists get their music heard.
The platform allows artists to upload their music directly to TikTok and Resso, in addition to global streaming platforms including Apple Music, Spotify, Pandora, Deezer and Tencent’s Joox. With the launch of its own music streaming service alongside SoundOn, TikTok would be able to offer a complete solution for both listeners and artists in the U.S.
TikTok has dominated the short-form video market and was the first non-Meta app to app to reach three billion downloads globally, according to Sensor Tower. Its growth has caused the likes of Instagram and YouTube to reconsider their platforms and business approaches due to the threat they face from the short-form video app. That makes its plans to enter the music streaming space a potential threat to incumbents.
Still, it’s worth noting TikTok hasn’t proved to be successful in translating all its services to new markets. The company, for example, recently shuttered its Shopping service in the U.K. after a disastrous launch and employee walkout.
TikTok’s U.K. employees had alleged a toxic work culture and employment law violations. This could set back plans to bring other services — including Resso, a service run by the Chinese tech giant ByteDance — to the U.S. or other regions.
ByteDance and TikTok did not respond to TechCrunch’s request for comment.
What do you think guys?... Tiktok having a music option, would that make sense or disrupthe apps purpose to users?
TikTok’s U.K. employees had alleged a toxic work culture and employment law violations. This could set back plans to bring other services — including Resso, a service run by the Chinese tech giant ByteDance — to the U.S. or other regions.
ByteDance and TikTok did not respond to TechCrunch’s request for comment.
What do you think guys?... Tiktok having a music option, would that make sense or disrupthe apps purpose to users?
*SELL FASTER AND BUY SMARTER*
When you
*ADVERTISE*FOR *FREE*
👉🏽 *📱 At
https://chat.whatsapp.com/CTYazoYIiqR5jc5sPb2x7P
When you
*ADVERTISE*FOR *FREE*
👉🏽 *📱 At
https://chat.whatsapp.com/CTYazoYIiqR5jc5sPb2x7P
WhatsApp.com
EDO MARKET SPOT đź’Ż
WhatsApp Group Invite