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Danny Coulombe , fresh off the two best seasons of his career, is mow an unrestricted free agent and looking for a new contract. Coulombe, 35, spent the majority of the early stage of his career bouncing between the major leagues and minor leagues. His MLB debut came for the Los Angeles Dodgers in 2014. Then, Coulombe headed to the Oakland Athletics, where he spent the next five years of his career. In 2017, he had a career year, appearing in 72 games for the Athletics, while posting a 3.48 ERA. After Oakland, Coulombe found his way to the New York Yankees’ minor league system, then to the Minnesota Twins, where he appeared in 41 games over parts of three seasons. Just before the start of the 2023 season, Coulombe was traded to the Baltimore Orioles and immediately made the MLB roster. During his two seasons in Baltimore, Coulombe became a shutdown reliever and was a key part of the team’s back-to-back postseason appearances. However, the Orioles non-tendered Coulombe following the 2024 season. Now, he is a free agent looking for a place to provide his services. Danny Coulombe Free Agent Profile Coulombe’s Time In Baltimore In Baltimore, Danny Coulombe was excellent. The soft-throwing lefty was extremely reliable and consistent and was ready to step up whenever the Orioles needed him. In 2023, Coulombe pitched in 61 games and finished with a 2.81 ERA. He struck out 58 batters while walking just 12, and had just a 1.110 WHIP. Although he dealt with an elbow injury during a large part of the 2024 season, Coulombe managed to appear in 33 games. In those outings, Coulombe had just a 2.12 ERA and a minuscule 0.674 WHIP. Coulombe was dominant in every sense of the word when he pitched over his two seasons in Baltimore. What Coulombe Brings To The Table As a shutdown lefty, Coulombe already has a lot of value. The advanced side of the veteran’s stats shows how truly dominant–and valuable–he is. Although his fastball velocity is consistently in the bottom 10 percent of MLB, Coulombe routinely shuts down opposing hitters. He does this by limiting hard hits and forcing ground balls. His cutter, his primary pitch, constantly forces low exit velocity. In 2023, Coulombe was in the 96th percentile for average exit velocity allowed. Then, his offspeed pitches force a lot of whiffs. Danny Coulombe, Filth. pic.twitter.com/ZXh81gQGQA — Rob Friedman (@PitchingNinja) May 24, 2024 Overall, the skillset of Coulombe is a valuable one to have. His ability to force weak contact and generate outs is incredibly impressive. Projected Contact for Coulombe As an older reliever, Coulombe will not command much. Spotrac projects Coulombe to earn a one-year contract worth $1.2 million. That is about $1 million lower than the deal he was on in 2024. It makes sense that the price would be a tad lower due to Coulombe’s injury in 2024 and his age. Coulombe is a Strong Option For Bullpen Neady Teams Although he is already 35 years old, Coulombe has just begun to hit his peak. He should be widely sought after by a variety of teams, including many playoff contenders. The Orioles may want to bring him back, but teams like the Kansas City Royals or Boston Red Sox, whose bullpens struggled during the 2024 season, could also use his services. This article first appeared on Last Word On Sports and was syndicated with permission.Fox News Flash top sports headlines are here. Check out what's clicking on Foxnews.com. Dontae Walker, a former Mississippi State Bulldogs running back who played in more than 40 games for the team from 1999 to 2002, has died, the school announced Saturday. He was 44. Mississippi State put out a statement on X: "The Mississippi State Family mourns the passing of Dontae Walker. Our thoughts and prayers go out to his family, friends and teammates." CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Mississippi State Bulldogs (Maria Lysaker-USA TODAY Sports) Walker got his start with the Bulldogs in 1999 and put together a solid freshman season, running for 384 yards and three touchdowns. He really broke out in 2000 and 2001 as he ran for more than 1,200 yards with 14 touchdowns over the course of those seasons. He also played in the 2000 Independence Bowl , known as "The Snow Bowl." However, Walker’s tenure with Mississippi State came to a tumultuous end as he only appeared in eight games in 2002 and was cut from the team before the year was over. In the final game of his collegiate career, Walker heard boos from the fans when he heard his name. He then walked to the locker room. NICK SABAN 'OBVIOUS CHOICE' FOR POSSIBLE COLLEGE FOOTBALL COMMISSIONER, PENN STATE COACH SAYS He told the Clarion-Ledger in 2013 he wished he would have blocked out the noise at that time. "There was more cheering than booing, but when I heard that booing, I couldn’t take it," he told the newspaper. "I did a lot for Mississippi State with winning bowl games and helping recruit players there. It was a hurting feeling. But I learned from it." He finished his career with 1,875 rushing yards and 22 rushing touchdowns in his career. Walker’s life off the field was derailed when he was arrested for marijuana and cocaine possession in 2005. He was sentenced to 25 years in prison but was released in 2009. Walker was playing for the Birmingham Steeldogs of the Arena Football League at the time of his arrest. CLICK HERE TO GET THE FOX NEWS APP He never got a chance to play in the NFL, but he earned a bachelor’s degree from Belhaven University in 2013. Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter . Ryan Gaydos is a senior editor for Fox News Digital.
PLAINS, Ga. (AP) — Newly married and sworn as a Naval officer, Jimmy Carter left his tiny hometown in 1946 hoping to climb the ranks and see the world. Less than a decade later, the death of his father and namesake, a merchant farmer and local politician who went by “Mr. Earl,” prompted the submariner and his wife, Rosalynn, to return to the rural life of Plains, Georgia, they thought they’d escaped. The lieutenant never would be an admiral. Instead, he became commander in chief. Years after his presidency ended in humbling defeat, he would add a Nobel Peace Prize, awarded not for his White House accomplishments but “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” The life of James Earl Carter Jr., the 39th and longest-lived U.S. president, ended Sunday at the age of 100 where it began: Plains, the town of 600 that fueled his political rise, welcomed him after his fall and sustained him during 40 years of service that redefined what it means to be a former president. With the stubborn confidence of an engineer and an optimism rooted in his Baptist faith, Carter described his motivations in politics and beyond in the same way: an almost missionary zeal to solve problems and improve lives. Carter was raised amid racism, abject poverty and hard rural living — realities that shaped both his deliberate politics and emphasis on human rights. “He always felt a responsibility to help people,” said Jill Stuckey, a longtime friend of Carter's in Plains. “And when he couldn’t make change wherever he was, he decided he had to go higher.” Defying expectations Carter's path, a mix of happenstance and calculation , pitted moral imperatives against political pragmatism; and it defied typical labels of American politics, especially caricatures of one-term presidents as failures. “We shouldn’t judge presidents by how popular they are in their day. That's a very narrow way of assessing them," Carter biographer Jonathan Alter told the Associated Press. “We should judge them by how they changed the country and the world for the better. On that score, Jimmy Carter is not in the first rank of American presidents, but he stands up quite well.” Later in life, Carter conceded that many Americans, even those too young to remember his tenure, judged him ineffective for failing to contain inflation or interest rates, end the energy crisis or quickly bring home American hostages in Iran. He gained admirers instead for his work at The Carter Center — advocating globally for public health, human rights and democracy since 1982 — and the decades he and Rosalynn wore hardhats and swung hammers with Habitat for Humanity. Yet the common view that he was better after the Oval Office than in it annoyed Carter, and his allies relished him living long enough to see historians reassess his presidency. “He doesn’t quite fit in today’s terms” of a left-right, red-blue scoreboard, said U.S. Transportation Secretary Pete Buttigieg, who visited the former president multiple times during his own White House bid. At various points in his political career, Carter labeled himself “progressive” or “conservative” — sometimes both at once. His most ambitious health care bill failed — perhaps one of his biggest legislative disappointments — because it didn’t go far enough to suit liberals. Republicans, especially after his 1980 defeat, cast him as a left-wing cartoon. It would be easiest to classify Carter as a centrist, Buttigieg said, “but there’s also something radical about the depth of his commitment to looking after those who are left out of society and out of the economy.” ‘Country come to town’ Indeed, Carter’s legacy is stitched with complexities, contradictions and evolutions — personal and political. The self-styled peacemaker was a war-trained Naval Academy graduate who promised Democratic challenger Ted Kennedy that he’d “kick his ass.” But he campaigned with a call to treat everyone with “respect and compassion and with love.” Carter vowed to restore America’s virtue after the shame of Vietnam and Watergate, and his technocratic, good-government approach didn't suit Republicans who tagged government itself as the problem. It also sometimes put Carter at odds with fellow Democrats. The result still was a notable legislative record, with wins on the environment, education, and mental health care. He dramatically expanded federally protected lands, began deregulating air travel, railroads and trucking, and he put human rights at the center of U.S. foreign policy. As a fiscal hawk, Carter added a relative pittance to the national debt, unlike successors from both parties. Carter nonetheless struggled to make his achievements resonate with the electorate he charmed in 1976. Quoting Bob Dylan and grinning enthusiastically, he had promised voters he would “never tell a lie.” Once in Washington, though, he led like a joyless engineer, insisting his ideas would become reality and he'd be rewarded politically if only he could convince enough people with facts and logic. This served him well at Camp David, where he brokered peace between Israel’s Menachem Begin and Epypt’s Anwar Sadat, an experience that later sparked the idea of The Carter Center in Atlanta. Carter's tenacity helped the center grow to a global force that monitored elections across five continents, enabled his freelance diplomacy and sent public health experts across the developing world. The center’s wins were personal for Carter, who hoped to outlive the last Guinea worm parasite, and nearly did. As president, though, the approach fell short when he urged consumers beleaguered by energy costs to turn down their thermostats. Or when he tried to be the nation’s cheerleader, beseeching Americans to overcome a collective “crisis of confidence.” Republican Ronald Reagan exploited Carter's lecturing tone with a belittling quip in their lone 1980 debate. “There you go again,” the former Hollywood actor said in response to a wonky answer from the sitting president. “The Great Communicator” outpaced Carter in all but six states. Carter later suggested he “tried to do too much, too soon” and mused that he was incompatible with Washington culture: media figures, lobbyists and Georgetown social elites who looked down on the Georgians and their inner circle as “country come to town.” A ‘leader of conscience’ on race and class Carter carefully navigated divides on race and class on his way to the Oval Office. Born Oct. 1, 1924 , Carter was raised in the mostly Black community of Archery, just outside Plains, by a progressive mother and white supremacist father. Their home had no running water or electricity but the future president still grew up with the relative advantages of a locally prominent, land-owning family in a system of Jim Crow segregation. He wrote of President Franklin Roosevelt’s towering presence and his family’s Democratic Party roots, but his father soured on FDR, and Jimmy Carter never campaigned or governed as a New Deal liberal. He offered himself as a small-town peanut farmer with an understated style, carrying his own luggage, bunking with supporters during his first presidential campaign and always using his nickname. And he began his political career in a whites-only Democratic Party. As private citizens, he and Rosalynn supported integration as early as the 1950s and believed it inevitable. Carter refused to join the White Citizens Council in Plains and spoke out in his Baptist church against denying Black people access to worship services. “This is not my house; this is not your house,” he said in a churchwide meeting, reminding fellow parishioners their sanctuary belonged to God. Yet as the appointed chairman of Sumter County schools he never pushed to desegregate, thinking it impractical after the Supreme Court’s 1954 Brown v. Board decision. And while presidential candidate Carter would hail the 1965 Voting Rights Act, signed by fellow Democrat Lyndon Johnson when Carter was a state senator, there is no record of Carter publicly supporting it at the time. Carter overcame a ballot-stuffing opponent to win his legislative seat, then lost the 1966 governor's race to an arch-segregationist. He won four years later by avoiding explicit mentions of race and campaigning to the right of his rival, who he mocked as “Cufflinks Carl” — the insult of an ascendant politician who never saw himself as part the establishment. Carter’s rural and small-town coalition in 1970 would match any victorious Republican electoral map in 2024. Once elected, though, Carter shocked his white conservative supporters — and landed on the cover of Time magazine — by declaring that “the time for racial discrimination is over.” Before making the jump to Washington, Carter befriended the family of slain civil rights leader Martin Luther King Jr., whom he’d never sought out as he eyed the governor’s office. Carter lamented his foot-dragging on school integration as a “mistake.” But he also met, conspicuously, with Alabama's segregationist Gov. George Wallace to accept his primary rival's endorsement ahead of the 1976 Democratic convention. “He very shrewdly took advantage of his own Southerness,” said Amber Roessner, a University of Tennessee professor and expert on Carter’s campaigns. A coalition of Black voters and white moderate Democrats ultimately made Carter the last Democratic presidential nominee to sweep the Deep South. Then, just as he did in Georgia, he used his power in office to appoint more non-whites than all his predecessors had, combined. He once acknowledged “the secret shame” of white Americans who didn’t fight segregation. But he also told Alter that doing more would have sacrificed his political viability – and thus everything he accomplished in office and after. King's daughter, Bernice King, described Carter as wisely “strategic” in winning higher offices to enact change. “He was a leader of conscience,” she said in an interview. Rosalynn was Carter's closest advisor Rosalynn Carter, who died on Nov. 19 at the age of 96, was identified by both husband and wife as the “more political” of the pair; she sat in on Cabinet meetings and urged him to postpone certain priorities, like pressing the Senate to relinquish control of the Panama Canal. “Let that go until the second term,” she would sometimes say. The president, recalled her former aide Kathy Cade, retorted that he was “going to do what’s right” even if “it might cut short the time I have.” Rosalynn held firm, Cade said: “She’d remind him you have to win to govern.” Carter also was the first president to appoint multiple women as Cabinet officers. Yet by his own telling, his career sprouted from chauvinism in the Carters' early marriage: He did not consult Rosalynn when deciding to move back to Plains in 1953 or before launching his state Senate bid a decade later. Many years later, he called it “inconceivable” that he didn’t confer with the woman he described as his “full partner,” at home, in government and at The Carter Center. “We developed a partnership when we were working in the farm supply business, and it continued when Jimmy got involved in politics,” Rosalynn Carter told AP in 2021. So deep was their trust that when Carter remained tethered to the White House in 1980 as 52 Americans were held hostage in Tehran, it was Rosalynn who campaigned on her husband’s behalf. “I just loved it,” she said, despite the bitterness of defeat. Reevaluating his legacy Fair or not, the label of a disastrous presidency had leading Democrats keep their distance, at least publicly, for many years, but Carter managed to remain relevant, writing books and weighing in on societal challenges. He lamented widening wealth gaps and the influence of money in politics. He voted for democratic socialist Bernie Sanders over Hillary Clinton in 2016, and later declared that America had devolved from fully functioning democracy to “oligarchy.” Yet looking ahead to 2020, with Sanders running again, Carter warned Democrats not to “move to a very liberal program,” lest they help re-elect President Donald Trump. Carter scolded the Republican for his serial lies and threats to democracy, and chided the U.S. establishment for misunderstanding Trump’s populist appeal. He delighted in yearly convocations with Emory University freshmen, often asking them to guess how much he’d raised in his two general election campaigns. “Zero,” he’d gesture with a smile, explaining the public financing system candidates now avoid so they can raise billions. Carter still remained quite practical in partnering with wealthy corporations and foundations to advance Carter Center programs. Carter recognized that economic woes and the Iran crisis doomed his presidency, but offered no apologies for appointing Paul Volcker as the Federal Reserve chairman whose interest rate hikes would not curb inflation until Reagan's presidency. He was proud of getting all the hostages home without starting a shooting war, even though Tehran would not free them until Reagan's Inauguration Day. “Carter didn’t look at it” as a failure, Alter emphasized. “He said, ‘They came home safely.’ And that’s what he wanted.” Well into their 90s, the Carters greeted visitors at Plains’ Maranatha Baptist Church, where he taught Sunday School and where he will have his last funeral before being buried on family property alongside Rosalynn . Carter, who made the congregation’s collection plates in his woodworking shop, still garnered headlines there, calling for women’s rights within religious institutions, many of which, he said, “subjugate” women in church and society. Carter was not one to dwell on regrets. “I am at peace with the accomplishments, regret the unrealized goals and utilize my former political position to enhance everything we do,” he wrote around his 90th birthday. Pilgrimages to Plains The politician who had supposedly hated Washington politics also enjoyed hosting Democratic presidential contenders as public pilgrimages to Plains became advantageous again. Carter sat with Buttigieg for the final time March 1, 2020, hours before the Indiana mayor ended his campaign and endorsed eventual winner Joe Biden. “He asked me how I thought the campaign was going,” Buttigieg said, recalling that Carter flashed his signature grin and nodded along as the young candidate, born a year after Carter left office, “put the best face” on the walloping he endured the day before in South Carolina. Never breaking his smile, the 95-year-old host fired back, “I think you ought to drop out.” “So matter of fact,” Buttigieg said with a laugh. “It was somehow encouraging.” Carter had lived enough, won plenty and lost enough to take the long view. “He talked a lot about coming from nowhere,” Buttigieg said, not just to attain the presidency but to leverage “all of the instruments you have in life” and “make the world more peaceful.” In his farewell address as president, Carter said as much to the country that had embraced and rejected him. “The struggle for human rights overrides all differences of color, nation or language,” he declared. “Those who hunger for freedom, who thirst for human dignity and who suffer for the sake of justice — they are the patriots of this cause.” Carter pledged to remain engaged with and for them as he returned “home to the South where I was born and raised,” home to Plains, where that young lieutenant had indeed become “a fellow citizen of the world.” —- Bill Barrow, based in Atlanta, has covered national politics including multiple presidential campaigns for the AP since 2012.
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President-elect Donald Trump Sunday evening sent a tribute to the Carter family in the wake of Jimmy Carter's death at 100 years old. Trump said in a statement on X: "I just heard of the news about the passing of President Jimmy Carter. Those of us who have been fortunate to have served as President understand this is a very exclusive club, and only we can relate to the enormous responsibility of leading the Greatest Nation in History. "The challenges Jimmy faced as President came at a pivotal time for our country and he did everything in his power to improve the lives of all Americans. For that, we all owe him a debt of gratitude. "Melania and I are thinking warmly of the Carter Family and their loved ones during this difficult time. We urge everyone to keep them in their hearts and prayers." The kind words juxtapose Trump and Carter's political divides over the years. Carter's administration was seen by Trump and his conservative supporters as a time of American decline. Carter claimed that Trump's campaign had "tapped a waiting reservoir... of racism" during the 2016 election. Carter's opinion of Trump seemed to changed in 2017 when he told a New York Times reporter the media treated then-president Trump worse than any other president. Many family members, acquaintances, and fellow politicians expressed their condolences for the longest-serving president in US history.Leslie's, Inc. Announces Fourth Quarter & Fiscal 2024 Financial Results; Provides First Quarter Fiscal 2025 Outlook
ALBANY, N.Y. (AP) — Justin Neely's 16 points off the bench led Albany (NY) to a 77-70 victory against Stony Brook on Sunday. Neely also contributed nine rebounds for the Great Danes (8-7). Amar'e Marshall scored 15 points, going 6 of 9 (3 for 6 from 3-point range). Kacper Klaczek had 10 points and shot 4 for 8 (0 for 3 from 3-point range) and 2 of 3 from the free-throw line. Ben Wight led the way for the Seawolves (4-9) with 19 points and seven rebounds. Joseph Octave added 13 points and five steals for Stony Brook. Jared Frey finished with 13 points. Albany (NY) took the lead with 19:30 left in the first half and did not give it up. Marshall led their team in scoring with 10 points in the first half to help put them ahead 36-31 at the break. Albany (NY) used an 8-0 run in the second half to build a 19-point lead at 55-36 with 14:01 left in the half before finishing off the win. Albany (NY) plays Saturday against UMass-Lowell at home, and Stony Brook visits Monmouth on Thursday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .About N3.87 trillion has been allocated for recurrent expenditure across 13 Nigerian states in their proposed budgets for the 2025 fiscal year. The governors of these states have presented budgets that prioritise administrative costs, including salaries and overheads, while also allocating significant funds for capital projects aimed at boosting infrastructure development. The total proposed budget across the 13 states for 2025 stands at N9.07tn. Of this total budget, N3.87tn is allocated for recurrent expenditure, which covers the ongoing costs of running the government and providing essential services. The remaining N5.845tn is directed towards capital expenditure, reflecting the states’ focus on long-term projects. The figures provided in this report were derived from details of the budget submitted by the state governors to their respective State Houses of Assembly. The reports were posted on each state’s official website. Recurrent expenditure refers to the regular and ongoing costs that a government or organisation incurs in the day-to-day running of its activities. Capital expenditure, on the other hand, refers to the funds used by the government or an organisation for the acquisition or construction of long-term assets that will contribute to future growth and development. In Lagos State, Governor Babajide Sanwo-Olu proposed a budget of N3.005tn, with N1.24tn allocated for recurrent expenditure, representing a portion of the total budget. The state also earmarked N1.76tn for capital expenditure, highlighting its focus on infrastructural development. Bauchi State Governor, Bala Mohammed, presented a N465.09bn budget, with N182.74bn allocated for recurrent expenditure, which makes up 39.3 per cent of the total budget. The remaining N282.34bn is set aside for capital expenditure, underscoring the state’s commitment to development. In Bayelsa State, Governor Douye Diri proposed a N689.4bn budget with N263.38bn earmarked for recurrent expenditure, accounting for 38.2 per cent of the total budget. A larger portion, N404.76bn, was allocated for capital expenditure. Osun State Governor, Ademola Adeleke, presented a N390.03bn budget, allocating N245.8bn (62.9 per cent) for recurrent expenditure, with N144.23bn dedicated to capital expenditure. Oyo State’s budget, presented by Governor Seyi Makinde, is N678.09bn, with N325.57bn allocated for recurrent expenditure. This represents 49.41 per cent of the total budget. The state has also proposed N349.29bn for capital expenditure. Anambra State Governor, Charles Soludo, presented a N606.9bn budget with N139.5bn allocated for recurrent expenditure, representing 23 per cent of the total. A larger share of N467.5bn is dedicated to capital expenditure, though the state faces a projected deficit of N148.3bn. Related News Mufwang presents Plateau's N471bn budget to Assembly Tinubu may present 2025 budget this week – Senate 2025 budget will underperform, stakeholders caution In Gombe State, Governor Muhammadu Yahaya proposed a N320.11bn budget, allocating N111.09bn for recurrent expenditure and N209.02bn for capital expenditure. Ekiti State Governor, Biodun Oyebanji, presented a N375.7bn budget, with N192.3bn (51 per cent) allocated for recurrent expenditure and N183.4bn (49 per cent) for capital expenditure. Additionally, Cross River State Governor, Bassey Otu, presented a N498bn budget, with N170bn allocated for recurrent expenditure, representing 34 per cent of the total. The bulk of the budget, N328bn, is focused on capital expenditure, aimed at supporting infrastructure growth. In Akwa Ibom, the state’s executive council approved a N955bn budget, with N300bn set aside for recurrent expenditure and N655bn for capital projects. This was disclosed in a statement issued by the state Commissioner of Information, Ini Ememobong after the council’s meeting presided over by Governor Umo Eno, on Wednesday. Delta State Governor, Sheriff Oborevwori, presented a N936bn budget, allocating N348bn for recurrent expenditure and N587bn for capital expenditure. Governor Caleb Mutfwang of Plateau State presented a budget estimate of about N471.1bn to the State House of Assembly for the 2025 fiscal year on Monday. In Plateau State, Governor Mutfwang proposed a N471.1bn budget, with N201.5bn allocated for recurrent expenditure, representing 43.46 per cent of the total budget. The capital budget estimate is N258.8bn, representing 56.54 per cent of the total budget. Governor Dikko Radda of Katsina State on Monday presented the State’s 2025 Budget Proposal to the state House of Assembly. Katsina’s recurrent expenditure stands at N157.97bn, representing 23.15 per cent of the total budget, while capital expenditure is N524.27bn, representing 76.85 per cent of the budget. Commenting, the Chief Executive Officer of Cowry Treasurers Limited, Charles Sanni, shared his insights, “The huge budgeted recurrent expenditures speak to the fact that little is available for capital projects. This will lead to capital investment rationing. A low capital expenditure budget simply tells us that not much growth and contribution to GDP will be expected because only significant capital budgets will promote economic, human, and social investments.” He further suggested two primary options for improving the financial health of the states: “Cost optimisation—stop leakages, adopt strict budget control measures, and cut down on the size or cost of personnel, particularly political aides—and increasing internally generated revenue through more public-private partnership deals, multilateral organizations’ direct budget financing support, and diaspora engagement for special projects funding.” An economist and investment specialist, Vincent Nwani, also weighed in, by stating that “the budget is small; some Nigerian universities’ annual budgets are even larger. It is too small for any significant development, and for infrastructure, it is still a small amount. “What’s worse is that a large portion of the capital is being used for non-productive purposes, such as buying cars, instead of funding long-term projects that can drive economic growth. There are issues of corruption and a lack of transparency that need to be addressed. The states need to start generating more income to meet their obligations, as they have borrowed before and need to repay.” The PUNCH reports that economic stakeholders have projected that the 2025 proposed budget of N47.9tn may underperform due to its bullish assumptions.
Boyd Gaming's CEO Keith Smith sells $2.15 million in stockAnd even when the Chicago Bears brain trust decided they no longer could justify keeping Matt Eberflus as head coach of their team, they still waited until he conducted one more news conference — telling us everything was fine and he was preparing for next week’s game against the San Francisco 49ers — before they actually pulled the trigger. Remember, this is an operation worth an estimated $6.4 billion, not a local hardware business trying to decide whether a store clerk should be let go for putting the wingnuts and screws in the wrong aisle. Fittingly, the Bears were the Bears until the last drop. “It’s been a normal operation,” Eberflus said Friday morning on a Zoom call with reporters before being Zoomed out of the NFL. The sad part is the Bears truly believe they are a normal operation when it’s quite obvious they’re the laughingstock of football. Who else would let Eberflus continue to fail time and time again after he repeatedly proved he wasn’t fit for the job. His .304 winning percentage was third-worst in Bears history, ahead of only John Fox (.292) and Abe Gibron (.274). And at least Abe had Melody to help take our minds off all the losing. (Google it, kids.) Eberflus’ days had been numbered since the Hail Mary loss to the Washington Commanders. The 19-3 loss to the lowly New England Patriots on Nov. 10, in which he and his team were booed off the field, would’ve been a perfect time to say sayonara. The Bears had eight games remaining to try to salvage the season, and at 4-5 there was still some hope it could be done. But, no, the McCaskeys don’t fire head coaches in season, we’ve been told a thousand times. Instead they got rid of the sacrificial goat, offensive coordinator Shane Waldron, who was replaced by Thomas Brown . Fans would have to suffer through three more brutal endings before George McCaskey finally got it into his head that this marriage was not going to work. The Thanksgiving Day clock blunder will be remembered as the fatal blow, of course, because we all watched in a collective stupor as the clock ticked down and Caleb Williams kept barking out signals, seemingly oblivious to the fact the game was about to end. Even your Aunt Martha, who doesn’t know a football from a drumstick, was yelling: “What is he doing, for crying out loud?” It made for an unforgettable Thanksgiving, with everyone in the living room calling for Eberflus’ head. Then came the “everything is fine” news conference Friday morning that made it appear as though the Bears were actually trying to gaslight their fans. I’m not sure what made McCaskey agree to change the long-standing policy — whether it was Jimmy Johnson’s rant or a tweet by The Wieners Circle — but whoever it was should get a medal of valor for saving the city from a mass mental breakdown. We all saw this coming, except perhaps the Three Amigos: McCaskey, Warren and Poles . That still doesn’t make it any more palatable. Related Articles Chicago Bears | Matt Eberflus’ Chicago Bears timeline: 32 losses, multiple coach firings and too many late-game missteps Chicago Bears | Chicago Bears fire Matt Eberflus — the 1st time they’ve dismissed a head coach during a season Chicago Bears | Column: In promoting Thomas Brown to interim head coach, are the Chicago Bears putting Caleb Williams’ development at risk? Chicago Bears | Column: After Matt Eberflus’ firing, the onus is on Kevin Warren and Ryan Poles to put the Chicago Bears on the right path Chicago Bears | Another critical breakdown for the Chicago Bears. Brad Biggs’ 10 thoughts on the Week 13 loss on Thanksgiving. The Thanksgiving hangover firing bookends the most famous “hiring” in Bears history, when Mike McCaskey told the media Dave McGinnis would be the head coach before actually informing McGinnis, thus losing both the coach and the rest of his own dwindling credibility. That embarrassing moment would be the lowlight of Mike McCaskey’s career, just as this will be remembered as George’s unshining moment. How will Eberflus be remembered? Was he a poor man’s Pedro Grifol or a poorer man’s Jim Boylen? Until Thursday’s debacle, perhaps the moment that best epitomized the Eberflus era was, during a lopsided loss to the Los Angeles Chargers in October 2023, when he threw the red challenge flag after the Bears scored a meaningless touchdown late in the game. He meant to throw it before the play, but Eberflus was never one to react quickly to any situation. And because there wasn’t any video replay of the actual touchdown, it was no harm, no foul. What comes next for Bears fans is the hard part. Do they trust these executives to hire the right replacement? Almost as much as they trust Mayor Brandon Johnson to manage the city budget . The easiest solution is to throw money at Bill Belichick and see if he bites. If Williams is truly a game-changing quarterback then it makes sense to give the keys to the guy who coached the greatest quarterback of his generation. But making sense is not really the Bears’ thing, so expect them to go for someone they don’t have to give any real power to and will be blander than their last five coaches combined. Someone disposable by 2027. It’s just normal operating procedure at Halas Hall.
The Winnipeg Jets, owners of the highest point total (53) and the most wins (26) in the NHL, will host the struggling Nashville Predators on Monday. Winners of three straight, the Jets trailed the visiting Ottawa Senators 2-0 early in the second period on Saturday night before scoring four straight goals en route to a 4-2 victory. Kyle Connor and Mark Scheifele, Winnipeg's leading goal-producers with 22 apiece, tied the contest in the second period and Gabriel Vilardi and Nikolaj Ehlers scored within a span of 1:32 in the middle of the third period. Vilardi's winner came on the power play 9:47 into the third and was set up by a one-touch pass from Ehlers. "Our power play, when we play it the right way and play it fast, get pucks to the net and get some chaos going, that's when we're at our best," Ehlers said. "When we work it around slow, it's not very good. ... I think with the skill that we have on both our power plays, things will open up once you get that chaos going." Ehlers had two assists to go along with his goal while Scheifele and Connor each added an assist. Connor Hellebuyck made 33 saves for the Jets, who have points in seven of their last eight (6-1-1). "We didn't try to chase it, I think that was the biggest thing," said Scheifele, who has 10 goals and eight assists in his last 12 games. "When we got down 2-0, there was still lots of game left. Sometimes you can go and try to chase offense, but we just tried to stick to our game. We knew that if we did the right things over and over, good things would happen. It showed." Connor leads Winnipeg with 49 points, while Scheifele is second with 44. The Predators fell 7-4 to the St. Louis Blues on Friday night in St. Louis. Nashville was 3-0-1 in its previous four games before the loss. "There were some opportunities there to win the hockey game," Nashville coach Andrew Brunette said. "Unfortunately we did some things early in the game that was hard for us to come back and obviously taking a penalty there late, I thought we had good momentum. That one hurt. "I didn't like our mindset early in the game right from the first goal against. We didn't do that the whole (previous) homestand. ... We weren't playing quite as direct as we have been playing." The Blues scored the first two goals of the game and led 4-2 after the opening period. Steven Stamkos and Jonathan Marchessault each had a goal and Mark Jankowski and Nick Blankenburg also scored for the Predators. Juuse Saros gave up five goals on 15 shots before being replaced by Justus Annunen in the second period. Annunen made 12 saves. "It was just too sloppy early," Stamkos said. "I know it's coming off (the Christmas break), but those are the games you want to be on the right side of, to build the momentum off of what we did before the break. I thought it was a missed opportunity, but ... too sloppy with just giving them some chances with our own mistakes." --Field Level MediaDallas Cowboys star guard Zack Martin is doubtful for Sunday's game against the Washington Commanders due to ankle and shoulder injuries. Martin didn't practice at all this week. He also physically struggled during Monday night's loss to the Houston Texas. Martin, who turned 34 on Wednesday, has started all 162 games played in 11 seasons with the Cowboys. He's a nine-time Pro Bowl selection and a seven-time first-team All-Pro. Tight end Jake Ferguson (concussion) and safety Markquese Bell (shoulder) have been ruled out. Neither player practiced this week after being hurt against the Texans. Cornerback DaRon Bland (foot) practiced in full this week and will make his season debut. He was injured in August. Star wideout CeeDee Lamb (back/foot) was a full practice participant on Friday and is good to go. Cornerback Trevon Diggs (groin/knee) and receiver Brandin Cooks (knee) are among six players listed as questionable. The others are offensive tackle Chuma Edoga (toe), guard Tyler Smith (ankle/knee), defensive end Marshawn Kneeland (knee) and linebacker Nick Vigil (foot). --Field Level MediaUNITED States President-elect Donald Trump, whose very existence is already unsettling enough, has rattled the entire world by reiterating the threat he repeatedly made during his campaign, to wit, that he would immediately impose high tariffs on many goods coming into the US. Trump, who was never very bright to begin with and is now hobbled by rapidly advancing dementia, apparently believes that tariffs are a kind of "tax" that would be paid to the US by exporting countries and would thus fund some of his other planned projects, such as deporting 20 million undocumented migrants and other non-US citizens. That is what he frequently told attendees at his many political rallies, at any rate, even after being called out by every economist on Earth for being completely wrong about tariffs work. In a rant earlier this week, Trump announced that he would "on day one" of his presidency impose a blanket 25-percent tariff on all imports from Mexico and Canada and add 10 percent to the existing tariffs on goods from China. As of this writing (Nov. 29), neither China nor Canada has responded strongly to the announcement, but Mexico's new President Claudia Sheinbaum certainly did. Register to read this story and more for free . Signing up for an account helps us improve your browsing experience. OR See our subscription options.
The Reserve Bank of India 's ( RBI ) move to draw capital flows by allowing banks to offer higher interest rates for foreign currency deposits for a specific period appears to have had few takers in the three weeks since the plan's announcement. Bankers said the rupee's recent sharp fall and a narrowing in the interest rate gap between the US and India will make it even more difficult to attract depositors. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for In its December monetary policy, the RBI temporarily raised the ceiling on interest rates banks can offer on foreign currency non-resident accounts or FCNR (B) deposits. Yet, the relevant pages on their respective websites showed that none of the commercial lenders raised interest rates since the central bank gave them the leeway. The RBI allowed banks to raise deposits at a spread of 400 basis points over an Alternate Reference Rate (ARR) for one to three years as against 250 bps spread earlier. For deposits between three and five years, the spread is raised to 500 bps over ARR against a cap of 350 bps. One basis point is a hundredth of a percentage point. "Banks were generally not even offering deposits close to the earlier ceiling," said Madan Sabnavis, chief economist at Bank of Baroda . "Hence, the new ceiling has not made much difference for most banks." 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"Some of the niche private banks will find this useful as they cater more to the expat population. Banks typically match such deposits with foreign currency loan requirements," Sabnavis said. "With this being stable at lower levels, it may not be economical given that the rupee is falling and forex risk is borne by banks." Forex Stockpile The RBI's move to raise the ceiling is to shore up foreign exchange (forex) reserves, which have fallen by $60 billion after touching an all-time high of $706 billion at the end of September. The forex reserves have declined as the RBI is selling dollars to support the rupee, which has consistently weakened against the greenback and hit new record lows of 85.80 Friday. Bankers say the existing spreads of 250-350 bps already offer sufficient flexibility and room for banks to adjust FCNR rates upward. "The spread between US and Indian interest rates has narrowed to its lowest level in recent years, making Indian foreign currency deposits less appealing to the Indian diaspora," said VRC Reddy, head of treasury, Karur Vysya Bank . "On the other hand, demand for export credit in rupee terms remains robust due to interest subvention benefits for MSME borrowers, reducing the attractiveness of borrowing in foreign currency for export credit, particularly when hedging costs are factored in. Even when using FX deposits for rupee-based purposes, the landed cost often exceeds that of rupee deposits, further limiting their appeal." Rather, many banks are offering rates that are lower than the earlier ceiling. The ARR for dollar deposits is pegged around 4.24% for December and an increase in the ceiling by 400 bps allows lenders to offer 8.24% on dollar deposits. However, most banks are offering just about 150-200 bps above the ARR. For instance, the State Bank of India (SBI) is giving savers 5.35% on one-year rate dollar deposits under the FCNR (B) scheme, and the rate has remained the same since mid-October. This shows the rates are lower than the previous spread of 250 bps. SBI offers 3.90% for five FCNB (B) deposits, which is still lower than the revised 500 bps spread. The revised caps announced in the monetary policy review are applicable only until the end of March 2025. "The cash reserve ratio (CRR) exemption on incremental FCNR deposits may encourage banks to raise FCNR deposit rates, thereby attracting more foreign exchange flows-an essential measure in the current economic context," Reddy said. Foreign currency deposits mobilised by banks in rupee equivalent stood at ₹1.98 lakh crore as of March 31, 2024, up 46% over the previous financial year, according to the latest Trends and Progress of Banking report published last week. In 2013, the then governor, Raghuram Rajan, launched the FCNR (B) plan, wherein the RBI effectively provided banks with a cushion against risks of adverse currency movements through the period of a committed deposit. This programme helped banks mobilise nearly $30 billion in overseas deposits. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )
TWIN FALLS — It took time for College of Southern Idaho men’s basketball freshman Amarco Doyle to adjust to the United States. Time to adjust to a 17-hour time difference from his hometown of Brisbane, the capital city of Queensland, Australia. Time to adjust to being without his mom’s cooking, something no amount of Chipotle, Mo Bettah’s or Panda Express can replace. Time to adjust to the quickness and physicality of the game in the U.S. So far, Doyle looks like a quick adjuster on the court. Entering this weekend's Wright Physical Therapy Shootout, Doyle is averaging a team-high 17.1 points per game and his 8.1 rebounds per game rank second on the team. No. 21 CSI (7-2) will host Eastern Wyoming College at 7 p.m. Friday and Lane Community College (Oregon) at 7 p.m. Saturday. “He’s versatile,” CSI head coach Jeff Reinert told the Times-News . “He can handle it. He’s not a one dimensional type of player. He can step out and hit threes, he’s a good post up player. He plays the game the right way.” CSI’s Amarco Doyle dunks during the CSI Basketball Bash on Tuesday evening, Oct. 1, 2024, at CSI in Twin Falls. Doyle has averaged 17.1 points and 8.1 rebounds per game in the Golden Eagles' first nine games this season. This year isn’t the first time Doyle has had to adjust. He moved around quite a bit for high school to try to find the best opportunity for his basketball career. Then he spent the past year playing for the Mackay Meteors in NBL1, a semi-pro league in South Australia that featured players 10 years his senior. Possibly his biggest adjustment though, came on the fly this summer. Doyle was set to attend NCAA Division II Seattle Pacific University but the NCAA blocked his amateurism certificate in July because he repeated 11th grade, Doyle told the Times-News . That meant he lost a year of eligibility, though he entered CSI as a freshman. He’s still not sure the number of years he has left, though is working with interested Division I schools to try to get three years so he can have the full four-year college experience. Reinert watched Doyle’s AAU team this summer when they played in Phoenix and Wichita, Kansas, but looked for point guard at the time. Reinert decided to take a flier when Doyle became available. Doyle had never been to Idaho before coming to CSI. So, he did his research on Twin Falls and realized it was like other places he had been in Australia. There isn’t a ton to do outside of basketball, but that helps him become a better player on the court. Plus he liked the sense of community at CSI, not just on the team but being in a place that cares about junior college basketball. “I was big on community,” Doyle told the Times-News . “The community here is amazing, they support us every game win or loss. We just hope to keep the crowd entertained and have an amazing season.” Doyle is comfortable playing on the wing or inside, with the ability to knock down 3-pointers or soar for dunks in transition. There’s a physicality to his game too, something he learned growing up playing Australian football and playing against grown men in NBL1. Even while being held back from practice this past week because of a knee injury, he still scored 20 points and nine rebounds against Western Nebraska on Friday night and 17 points against Northeastern Junior College on Saturday night. Doyle knew he was versatile when he came here, but is working to improve his ballhandling ability in his time at CSI. “The guards over here are a lot better, a lot quicker,” Doyle said. “Everyone’s handles one through four, even the five over here, their handles are amazing compared to back home where you could get away with it.” His teammates have picked up some of his Australian slang like “mates,” which means friend, and “heaps,” which means many. Doyle tried to introduce them to Vegemite, a popular spread back home, but they didn’t take. After hanging out with teammates all day, he spends night time talking to his family and friends back home on WhatsApp or Messenger. It’s a routine Doyle will likely continue for the next few years as he continues his basketball career in the U.S. He already has offers from Oakland and Weber State. Reinert expects him to commit before the year is over. Reinert isn’t complaining though. In his ideal world, everyone would leave after one year because he’s done his job. But until then he’ll be happy to have Doyle as part of a deep team chasing an NJCAA National Tournament appearance and more after missing out last season. “The pieces are there,” Reinert said. “The main pieces are there and if everyone buys into the role, we can do a lot of things.” Your story lives in the Magic Valley, and our new mobile app is designed to make sure you don’t miss breaking news, the latest scores, the weather forecast and more. From easy navigation with the swipe of a finger to personalized content based on your preferences to customized text sizes, the Times-News app is built for you and your life. Don’t have the app? Download it today from the Apple App Store or Google Play Store. Justin Fitzgerald is the sports reporter for the Times-News. Prior to coming to Twin Falls, he was the sports reporter at the Cherokee Scout in Murphy, North Carolina for 2.5 years. Despite growing up in Maryland and graduating from the state's flagship university, he thinks Old Bay is overrated. Get local news delivered to your inbox! Sports Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.Daily Post Nigeria Muhammad Nami: VAT attribution and derivation: A personal appeal to all parties Home News Politics Metro Entertainment Sport Opinion Muhammad Nami: VAT attribution and derivation: A personal appeal to all parties Published on November 25, 2024 By Daily Post Staff I have read a ton of views on the proposed Nigeria Tax Administration and other tax reform bills. On one hand, some stakeholders decry the bills as being a contrast to the current administration’s championing for local government autonomy. Some, like the National Economic Council (NEC), last month recommended the withdrawal of the bills, stating that there were too many controversies surrounding it. They called for more inclusion in the stakeholder consultation process. The Northern Governors Forum (NGF) in similar fashion rejected the new derivation-based model for Value Added Tax (VAT) distribution in the bills. On the other hand, some wholly support the bills and believe that their benefits are transformational and necessary. Each stakeholder and commentator holds their view in light of information that is available to them. And that is valid and fair. But before I go into the lengthy details of my thoughts on this matter, let me share the definition of the two subjects that are crucial to this conversation: attribution and derivation. The principle of derivation in revenue sharing ensures that revenues from taxes are distributed to the region or jurisdiction where they were generated. For example, if a company generates revenue through sales in a particular state, a portion of the taxes or royalties from that economic activity is returned to the state. The principle of attribution, on the other hand, involves allocating tax revenues based on predefined criteria, such as population size, geographical size, need, national interest, expenditure responsibilities, etc., rather than the location of a tax-generating entity. Thus, revenues are collected nationally and are distributed to states according to agreed-upon formulas. MY VIEW “The present controversy is based on the VAT sharing formula proposed in Section 77 of the Nigeria Tax Administration Bill. I have come to appreciate that the myriad of criticisms against this well-intended bill may be a result of the lack of clarity or understanding of Section 22 (12) of the Bill, which provides for Attribution of VAT Revenue, requiring companies to file their returns on the basis of derivation by location (place of consumption). “This provision, from my understanding, was included to cure an existing problem with our current VAT administration. As it stands today, in the existing system, VAT returns by companies are not filed on the basis of the place of consumption but reported based on the head office locations of these companies. This means that a whopping 20% of VAT returns are distributed back to states where these head offices are located—whether consumption took place there or not; it explains why Lagos, FCT and Rivers always take the largest chunk of VAT under the current regime. “The proposed amendments of the Nigeria Tax Administration Bill offer a different position that emphasises fairness and more equitable distribution of VAT returns. It proposes that VAT will now be reported based on the place of consumption, which will ensure that most of the amounts currently reported for Lagos, FCT and Rivers states will now be reported by where the consumption takes place. “The new rule will ensure that places where consumption took place get 60% of the amounts reported for them. For instance, if consumption happens in Niger State, the state would receive 60% of the VAT generated from its jurisdiction, while the balance would be put in a VAT sharing pool, which it (Niger State) would further benefit from. “In my view, this will result in a more favourable outcome for most states when compared to the current regime that favours Lagos, Rivers and FCT. It will more or less redistribute most of the present allocation received by those 3 states. My appeal to NEC, NGF and NEF as well as other stakeholders, is thus: A. We must not make the misjudgment of throwing away the baby with the bathing water. B. Let us carefully look at the benefits of these reforms and weigh the impact on our tax and fiscal space versus the proposed amendments’ ‘perceived shortfalls’. C. There is no single problem on earth that is without a solution. In this light, we should think out of the box and suggest workable solutions to address or fix these perceived shortfalls, or we will be condemned to having our cap in hand at the doorsteps of the World Bank and IMF Headquarters more frequently than ever. D. On a personal note and based on my little experience as a tax accountant, consultant and administrator, I would suggest to all stakeholders, particularly the National Assembly, to go ahead and consider the bill, pass it to law, and have Mr. President sign same, but provided the proposed amendments to the VAT law will be implemented in phases bearing in mind the following: 1. FIRS is currently undergoing its own reforms; the FIRS Establishment Act has been re-presented to the NASS and is receiving their attention simultaneously. For FIRS to be able to function as envisaged by the proposed changes or amendments to the FIRS Act, then it must first fix the roof over its head to ensure that if any storm arises tomorrow, revenue administration officials and our money entrusted in their hands would be safe. 2. FIRS must also fix the issue of fiscalisation within the next three to five years from now. The need for fiscalisation is one of the key amendments proposed in the Nigeria Tax Administration Bill before the NASS. Fiscalisation is the process of using technology, like cash registers or POS systems, to ensure businesses comply with tax laws by automatically recording and reporting their sales to tax authorities. It is an expensive project and will not only require political will at the centre but also at the sub-national level. To achieve it, the FG, FIRS and FAAC must be ready to jointly fund this project. It is important because it will bring about transparency and accountability as well as address the issue of subjectivity, which is mainly the fear of the members of NEC, particularly the NGF. I must emphasize that Fiscalisation cannot happen without data. This brings me to my third point. 3. The FIRS HQ project should be completed and equipped as a world-class edifice while ensuring that the entire floor historically conceived as the “National Revenue Data Centre” becomes a reality. 4. Item 2 above (i.e., fiscalisation) will not only address the issue of transparency and accountability; it will also curtail the influence and excesses of vested interests, particularly the tax accountants who are accomplices in the whole of this VAT issue. If the amendment is passed into law and its implementation is not delayed, say by 3 to 5 years, the fear of the stakeholders would be justified because tax accountants are likely to be subjective (or used to being subjective) in the course of filing VAT returns (i.e., VAT attribution) in favour of the states of their choice or those of the choices of some of the political class. As a tax accountant of your company, you know where your customers are located if not all, especially the major ones. But when asked to file their companies’ monthly VAT returns based on the location of their customers, for instance, sentiments come into play. And even with the proposal in Section 77 of the Tax Administration Bill, the subjectivity is likely to continue. Though it was an administrative initiative at FIRS in 2020, I recall that we redesigned the VAT Form 002 that required companies to file their VAT returns based on attribution. Only a few companies (less than 10) complied with our directives nationwide (i.e., file VAT returns based on the location of their customers.) Fiscalisation will help our revenue administrators in many ways including boosting their capacity to generate more revenue for the Federation. It has the capacity to address or track transactions or sales of goods from a customer in one state to the other, particularly cashless transactions. It will also create room for the implementation of a system for immediate tax refunds. 5. Phasing the implementation of the two key controversial but necessary amendments to the VAT law would also assist the states to go back home, sit and weigh the level of financial inclusion in their respective states and address them accordingly. Recent reports on financial inclusion reveal that while you may have an estimated population of 10 million people in a given state for example, less than 2 million of that population would be financially inclusive. In some states, more than 70% of the population do not have a BVN not to talk of a bank account. So as a state governor, your argument that huge consumption is taking place in your state but the current ‘headquarters effect’ is affecting your share of monthly VAT revenue can only be addressed when your resident population are financially inclusive. It goes without saying that your problem would be compounded in the near future if buying and selling of goods continues to happen in your state using cash. Buying and selling of goods and services in this fashion will also affect your ability to improve on your state’s IGR. 6. The process of input-output mechanism in VAT input claim is another key issue that has been of keen interest to me, and equally needs to be emphasised here. The intended amendments and fiscalisation of Nigeria’s business environment will also help in addressing sharp practices or the abilities of businesses to manipulate the input claim in the course of filing their monthly VAT returns. This is because under the current regime, if an item is purchased in Lagos and taken to Kano for example, the Kano company will not be able to claim the input VAT if the Lagos company fails to correctly disclose the location of its output VAT. With fiscalisation the input claim of the Kano company will simply expose the Lagos company. In my view, the following four (4) factors will drive compliance with the proposed tax reform bills, and this will mean more revenue to share to the states: 1. Attribution is now clearly provided in the law. It is no longer an administrative decision or at the discretion of the FIRS or tax accountants working for or representing VAT agents nationwide. 2. There is now a strong political will to drive tax reforms, this means that tax laws will not only be passed but will be well enforced going forward in Nigeria. 3. Technology deployment for VAT invoicing and fiscalisation is clearly provided in the new bills, with the attendant administrative processes that are ongoing to implement same. It will no longer be at the discretion of companies to determine who bought what—technology will. 4. The processes and challenges in Input-Output mechanism in VAT input claims will now be addressed using technology. Finally, the many benefits of these bills are excellent. It behoves us to give the NASS our support to pass them into law. But I hold that we should do so on the following conditions: A. That the implementation of the Tax Administration Bill should be phased. B. That the implementation (i.e., the effective date) of the proposed amendments to Section 77 of the Tax Administration Bill should be delayed for at least three to five years to enable all parties to plan and invest in technology and the relevant infrastructure. C. FIRS should administratively prepare the minds of all stakeholders, particularly the VAT agents, lawyers and tax accountants, on the need to honestly file VAT returns based on attribution as a first step, because Section 26 of the FIRS Establishment Act (as it is today) is adequate enough for them to call for VAT returns based on attribution from all VAT agents in Nigeria. D. The current sharing formula should be used in distributing revenue accruable from VAT to all parties, and all parties within the next three to five years (that the amendment is expected to take effect) would have played their part so that there would be equity, transparency and accountability as intended by the proposed amendments to the VAT law. Muhammad Nami, a tax accountant and consultant, is the immediate past Executive Chairman of the Federal Inland Revenue Service (FIRS) and Joint Tax Board. He was also the President of the Commonwealth Association of Tax Administrators (CATA). Related Topics: Muhammad Nami Phyna VAT Don't Miss Aviation safety: Are airlines regulating the regulators? You may like Phyna disowns family, drops surname Arabinrin Aderonke: Tax Reform Bill: VAT as a consumption tax DNA test should be made compulsory after birth – Phyna Why VAT proposal is generating controversy – Oyedele, Tax Committee Chair Hardship: Nigerian govt removes VAT on cooking gas, CNG, diesel VeryDarkMan invites Phyna to a date amidst legal battle with Falanas Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd