VAIDS Executive Order & Form | Voluntary Asset and Income Declaration Scheme
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Voluntary Assets and Income Declaration Scheme (VAIDS) has been launched
You can now Declare your assets and income honestly, pay the taxes due correctly, then go and sin no more or ... READ DETAILS HERE
VAIDS
Few weeks ago, the Acting President, Prof. Yemi Osinbajo, SAN formally launched the Voluntary Assets and Income Declaration Scheme (VAIDS).
Generally speaking, the Scheme has already commence since 1st July 2017 and last for a period of 9 months which will be in April 2018. Furthermore, VAIDS is an initiative designed to encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities.
As can be seen on their website, the Scheme would be implemented by the Federal Inland Revenue Service (FIRS) in collaboration with all 36 State Internal Revenue Services and the FCT IRS.
As a matter of fact, Government would gather intelligence locally and through various international conventions and multilateral agreements to obtain information required for prosecution of defaulting taxpayers or those who make false declarations.
On the other hand, an international forensic and asset tracing company has been engaged to support this process.
Comparatively, the tax man has been busy! Sneak a peek into some of the tax profiles they have put together.
READ: Voluntary Assets and Income Declaration Scheme (VAIDS) Form Online Portal
READ: Voluntary Assets and Income Declaration Scheme (VAIDS) Form Online Portal
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