Buhari Extends Amnesty For Tax Evaders Till June 30

 

President Muhammadu Buhari has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30, 2018.

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According to a statement by the Presidency, the short extension after the original March 31 date is based on the appeals of professional bodies and individual taxpayers.

Mr Buhari however warned that there will be no further extension of the VAIDS after the June 30 deadline elapses.

The VAIDS programme, which had offered tax defaulters room to regularise their taxes without prosecution, ended on March 31.

Recall that Kemi Adeosun, Minister of Finance had promised to name and prosecute all tax evaders following the expiration of the programme.

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The minister also warned Nigerians evading tax, that the Federal Government had put in place a data mining mechanism to fish them out.

But Mr Buhari on Wednesday said the new approval was based on the conviction of the finance ministry that the overall objective to increase compliance will be attained, and additional revenue will accrue.

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Launched in July 2017, VAIDS is a weekly public enlightenment campaign to sensitize Nigerians to embrace voluntary declaration and prompt payment of taxes.

Following the development, the government declared every Thursday “Tax Thursday”, earmarked to sensitize citizens on the importance of tax and its role in the development of the country.

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