The Honourable Minister of Finance, Mrs. Kemi Adeosun, on Saturday confirmed that the Federal Government was currently reviewing the requests by the States and Private Sector for an extension of the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS). 


The tax amnesty programme, which expired on Saturday, offered a nine-month window of opportunity for taxpayers to regularise their tax liabilities. 

Adeosun, who responded to media enquiries in Abuja, said some States of the Federation and the private sector had asked for an extension of the deadline in order to allow them more time to comply. 

She said, “The Federal Government is reviewing the numerous extension requests by the States and the private sector, which have cited some logistic challenges such as non-availability of the declaration forms in some states and the declaration of public holidays to commemorate Easter.” 

The Minister stated that the tax evaders risk forfeiting their assets and prosecution as she noted that the Government’s data mining Unit in the Federal Ministry of Finance, Project Lighthouse, had compiled data of taxpayers from land registries from 36 States and Federal Capital Territory as well as their bank accounts. 

“We have also received tremendous support from foreign countries which provided data under the exchange of information protocols. The data include bank records and financial filings for tax purposes,” Adeosun said. 

The Project Lighthouse has identified the common violations by non-compliant taxpayers to include:

Under-declaration of and non-declaration of income earned including income from Government contracts and overseas trading;Collection of Value Added Tax (VAT) which is not duly  remitted to FIRS;Charging of non-allowable personal expenses to company accounts particularly with reference to overseas school fees;Inconsistency between income declared for tax purposes and the value of assets owned.

SOURCE: https://brandspurng.com/vaids-fg-reviews-states-private-sectors-pleas-for-extension-of-deadline/

Na was o

Na wa o

N-TAX

God bless BUHARI

What is she doing to businesses that are laying off staffs because of hight taxes. I'm disappointed with her on this one.

Everything About This Goverment Is A Scam.2019 DO REACH ABEG.

Hapi reviewing.

Useless govt. Useless president

Confused govt

I talk am

VAIDS ko? VAIDS ni

Those of us whose businesses have been making losses since we helped Buhari get into office nko? After declaring our losses, will we be compensated or bailed out?

nex:
Those of us whose businesses have been making losses since we helped Buhari get into office nko? After declaring our losses, will we be compensated or bailed out?

Ambode demolished the place where my brother dey hustle for oshodi so when I went to visit him sometime ago, I asked if he had done the voluntary assets declaration since the deadline was fast approaching, My guy simply looked at me and said "May Thunder fire you and Vaids there. The only assets I will declare are the ten bags of stone debris I will gather from my demolished shop, Nonsense!!" . he said it in Igbo though, I just translated as best as I can

Let osibande,femi the deeper life backslider ,or even bubu come and come complete

hmmmm

hmmmm

PDP will surely end VAIDS and clean out the $46bn foreign reserves from June 2019

coluka:
Ambode demolished the place where my brother dey hustle for oshodi so when I went to visit him sometime ago, I asked if he had done the voluntary assets declaration since the deadline was fast approaching, My guy simply looked at me and said "May Thunder fire you and Vaids there. The only assets I will declare are the ten bags of stone debris I will gather from my demolished shop, Nonsense!!" . he said it in Igbo though, I just translated as best as I can

He dey pay tax before?

kings09:
Hapi reviewing.

Useless govt. Useless president

the $46bn foreign reserves is PDP's target,
Oloshi people

dobrorhie:


the $46bn foreign reserves is PDP's target,
Oloshi people

Am sure Obasanjo was in APC wen he grew it to $65bn.

Ode-oloriburuku ppl