Buhari extends VAIDS deadline to June 30
President Muhammadu Buhari has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30. The approval for the extension of the deadline is contained in a statement issued by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Wednesday. According to the statement, the short…
‘Nigeria’s tax: GDP ratio remains one of the poorest in Africa’
Financial experts have lamented the country’s tax to GDP ratio, describing it as one of the poorest in Africa. The figure, which stands at just 6 per cent is significantly lower than Ghana and Egypt...
We have resources to prosecute tax debtors after VAIDS
Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has warned individuals and corporate entities, who refuse to take advantage of the Voluntary Assets...
FG detects 130,000 high net worth persons, firms in tax fraud
The Federal Government’s data mining strategy through the Federal Ministry of Finance has identified a new batch of over 130,000 high net worth individuals and companies that have potential tax underpayments.
‘VAIDS will help states to increase their IGR’
VAIDS cuts across companies income tax, petroleum profit tax, personal income taxes, stamp duties, withholding tax, education tax, and any form of taxation that is previously under declared or not declared at all come within the body of it.
Adeosun, FIRS boss for tax amnesty symposium
The Minister of Finance, Mrs. Kemi Adeosun, will on March 1, lead a high-powered Federal Government’s delegation to the Voluntary Assets and Income Declaration Scheme (VAIDS) stakeholders’ symposium in Kaduna State.
‘No sacred cows under VAIDS’
Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has advised prominent Nigerians with tax liabilities to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS), as political, social or economic prominence will not insulate them from sanctions for non-declaration.
IoD boss seeks extension of VAIDS deadline, says compliance still slow
President and Chairman of Council, Institute of Directors (IoD), Nigeria, Ahmed Mohammed, has called for an extension of the Voluntary Assets and Income Declaration Scheme (VAIDS). He said this would provide greater awareness and increased compliance with the scheme. Following Federal Inland Revenue Service (FIRS) on-going publicity of the scheme, he said the response to…
VAIDS to expose tax debtors with data on property, bank accounts, shares
Minister of Finance, Mrs. Kemi Adeosun, has advised wealthy Nigerians to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS) to regularize their tax status...