{"id":671293,"date":"2026-01-03T14:09:14","date_gmt":"2026-01-03T14:09:14","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/671293\/"},"modified":"2026-01-03T14:09:14","modified_gmt":"2026-01-03T14:09:14","slug":"new-tax-law-man-shares-experience-after-sending-n1m-debunks-extra-charges-rumours","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/671293\/","title":{"rendered":"New Tax Law: Man Shares Experience After Sending N1m, Debunks Extra Charges Rumours"},"content":{"rendered":"<ul>\n<li><strong>A young Nigerian man shared his experience with the new tax law on social media, and it got many people talking<\/strong><\/li>\n<li><strong>The young individual showed how much he sent on January 1, after the law started, and what he noticed<\/strong><\/li>\n<li><strong>His post and screenshot sparked discussions on social media about his experience and the new tax law<\/strong><\/li>\n<\/ul>\n<p class=\"align-left\">As the implementation of <a href=\"https:\/\/www.legit.ng\/nigeria\/1690353-breaking-tax-laws-commence-january-1-2026-planned-fg\/\" target=\"_blank\" rel=\"noopener\">the new tax<\/a> law kicks off in line with the federal government\u2019s announcement, a Nigerian man has shared his experience after sending a huge amount of <a href=\"https:\/\/www.legit.ng\/business-economy\/money\/\" target=\"_blank\" rel=\"noopener\">money<\/a>.<\/p>\n<p class=\"align-left\">Before his statement, there were rumors of unexpected deductions from bank accounts and charges on tax payments as the new tax system rolls in.<\/p>\n<p><img class=\"article-image__picture\"  src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/d7079f94efdb1b2b.jpeg\"  alt=\"Man reacts to misinformation as new tax law takes effect\" title=\"Man reacts to misinformation as new tax law takes effect\" width=\"1120\" height=\"630\" decoding=\"async\" fetchpriority=\"high\"\/>Man debunks rumors as new tax law kicks off in Nigeria. Photos for illustration purposes only. Photo Credit: Getty Images\/Vadym Pastukh\/Tolu Owoeye<br \/>Source: Getty ImagesMan speaks about the new tax law<\/p>\n<p class=\"align-left\">Despite the government\u2019s explanation regarding how individuals will be taxed and who will be exempted, some <a href=\"https:\/\/www.legit.ng\/people\/\" target=\"_blank\" rel=\"noopener\">people<\/a> have continued to spread rumors.<\/p>\n<p class=\"align-left\">In the middle of this, a man, <a href=\"https:\/\/x.com\/olopzeze\" target=\"_blank\" rel=\"nofollow noopener\">@olopzeze,<\/a> took to his media page to reveal that he made a <a href=\"https:\/\/www.legit.ng\/sports\/\" target=\"_blank\" rel=\"noopener\">transfer<\/a> of over \u20a61 million.<\/p>\n<p><a href=\"https:\/\/www.legit.ng\/people\/1690766-new-tax-law-lady-cries-online-extra-deduction-n16000-transfer-mentions-amount\/\" class=\"c-article-read-also__image-wrapper\" target=\"_blank\" rel=\"noopener\"><img src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/8a8db0fb0648d58d.jpeg\"   loading=\"lazy\" decoding=\"async\"\/><\/a><a href=\"https:\/\/www.legit.ng\/people\/1690766-new-tax-law-lady-cries-online-extra-deduction-n16000-transfer-mentions-amount\/\" class=\"c-article-read-also__headline\" target=\"_blank\" rel=\"noopener\"><\/p>\n<p class=\"c-article-read-also__caption\">Read also<\/p>\n<p class=\"c-article-read-also__headline-wrapper\">New tax law: Lady cries out online after extra deduction on her N16,000 transfer, mentions amount<\/p>\n<p><\/a><\/p>\n<p class=\"align-left\">He also shared his <a href=\"https:\/\/x.com\/olopzeze\/status\/2006832026184274381\" target=\"_blank\" rel=\"nofollow noopener\">experience with the tax law <\/a>after making the transfer.<\/p>\n<p class=\"align-left\">His statement:<\/p>\n<blockquote><p>&#8220;I did over 1 Million Naira transactions across my bank accounts today, without Una yeye Descriptions.&#8221;<\/p><\/blockquote>\n<p><img class=\"article-image__picture\"  src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/5cadd443ddb35248.jpeg\"  alt=\"Man posts about \u20a61 million transfer, sees only \u20a650 stamp duty\" title=\"Man posts about \u20a61 million transfer, sees only \u20a650 stamp duty\" width=\"1120\" height=\"630\" decoding=\"async\" loading=\"lazy\"\/>Man shares experience under new tax law after \u20a61 million transfer. Photo source: Twitter\/olopzeze<br \/>Source: Twitter<\/p>\n<blockquote><p>&#8220;No extra charges, just 50 naira stamp duty only on the money I sent out, no debit on the 400k I received.&#8221;<\/p><\/blockquote>\n<blockquote><p>&#8220;No extra Tax like Banger boys and Una hungry influencers claimed. Wetin misinformation go cause for this Naija en.&#8221;<\/p><\/blockquote>\n<p>Reactions as as tax law takes effect <\/p>\n<p class=\"align-left\">@wisdomthefunds stressed:<\/p>\n<blockquote><p>&#8220;I keep wondering if they will take me even if i make transactions way over 800k this year. I thought it was just for salary earners. I don\u2019t just get this thing yet.&#8221;<\/p><\/blockquote>\n<p class=\"align-left\">@laide0 shared:<\/p>\n<blockquote><p>&#8220;So you actually believed 20% of your money would be deducted from any amount you sent or received?? Wow wawu wawest.&#8221;<\/p><\/blockquote>\n<p class=\"align-left\">@kenjith3creator noted:<\/p>\n<blockquote><p>&#8220;Do you think they\u2019ll be deducting it as you\u2019re transacting lol?. It\u2019s a cumulative thing, when you file your taxes.&#8221;<\/p><\/blockquote>\n<p class=\"align-left\">@Freemahn999 said:<\/p>\n<blockquote><p>&#8220;I am charge 50 naira every transfer above 10k. Tax has started<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.legit.ng\/people\/1690754-man-cries-market-woman-warns-gift-narration-avoid-2026-tax-deductions\/\" class=\"c-article-read-also__image-wrapper\" target=\"_blank\" rel=\"noopener\"><img src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/8a5bd8b06c685004.jpeg\"   loading=\"lazy\" decoding=\"async\"\/><\/a><a href=\"https:\/\/www.legit.ng\/people\/1690754-man-cries-market-woman-warns-gift-narration-avoid-2026-tax-deductions\/\" class=\"c-article-read-also__headline\" target=\"_blank\" rel=\"noopener\"><\/p>\n<p class=\"c-article-read-also__caption\">Read also<\/p>\n<p class=\"c-article-read-also__headline-wrapper\">Tax law: Man cries out as market woman warns him to use \u2018gift\u2019 narration to avoid deductions<\/p>\n<p><\/a><\/p>\n<p class=\"align-left\">@toyosialliowe noted:<\/p>\n<blockquote><p>&#8220;20% kheee..  No naaa.  You have a threshold of 800k taxfree. Then the tax starts and gets progressive as your income increases.&#8221;<\/p><\/blockquote>\n<p class=\"align-left\">@heis_dinma noted:<\/p>\n<blockquote><p>&#8220;They would tax you at the end of the year!! Not the beginning that\u2019s how tax works.&#8221;<\/p><\/blockquote>\n<p class=\"align-left\"><strong>Read the post below:<\/strong><\/p>\n<p class=\"align-left\">In a trending video, Mr. Taiwo Oyedele, chairman of tax reform, explained everything about the new tax law.<\/p>\n<p class=\"align-left\">In a similar story, Legit.ng recently reported that a Nigerian man raised <a href=\"https:\/\/www.legit.ng\/tags\/questions\/\" target=\"_blank\" rel=\"noopener\">questions<\/a> about the tax policy set to be implemented in 2026. The man asked <a href=\"https:\/\/www.legit.ng\/people\/1690590-nigeria-tax-law-stirs-controversy-twitter\/\" target=\"_blank\" rel=\"noopener\">why he should pay tax <\/a>when, according to him, he does not benefit from the government.<\/p>\n<p>Tax law: Nigerian fears huge 2026 deductions<\/p>\n<p class=\"align-left\">Meanwhile, Legit.ng recently reported that<a href=\"https:\/\/www.legit.ng\/people\/1690560-tax-payment-nigerian-man-laments-total-amount-entered-account\/\" target=\"_blank\" rel=\"noopener\"> Tax law worries a Nigerian <\/a>man after he saw his bank statement for 2025. Tax law concerns him because he thinks he will pay a lot of tax in 2026.<\/p>\n<p class=\"align-left\">The man shared on social media how much money came into his account and how much he sent out from January to December.<\/p>\n<p data-exclude-audio=\"\">Source: Legit.ng<\/p>\n","protected":false},"excerpt":{"rendered":"A young Nigerian man shared his experience with the new tax law on social media, and it got&hellip;\n","protected":false},"author":2,"featured_media":671294,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-671293","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115831568359676858","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/671293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=671293"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/671293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/671294"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=671293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=671293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=671293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}