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FIRS, JTB deepen move to cage high-income earners, 12 states sign VAIDS

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The federal government has stepped up its drive to capture several Nigerian high income earners who had been evading taxes as the Joint Tax Board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing data of high net worth individuals.

The key target is to profile income earners and taxpayers in order to get them pay appropriate taxes.

Besides, 12 states have signed the Memorandum of Understanding (MoU) under the Voluntary Assets and Income Declaration Scheme (VAIDS), a new strategy to deepen tax awareness and drive amongst Nigerians.

According to an announcement by JTB, it had engaged a consultant to ensure that the databases of the state tax authorities and the FIRS could connect to each other for seamless harmonization capable of limiting cases of double taxation.

Executive Chairman of FIRS and JTB, Mr. Tunde Fowler, who announced the MoU with states on VAIDS in Abuja during the 138th meeting of the JTB, explained that the integration of data among the states between the FIRS and the JTB would help to identify high net worth individuals, track their tax status and compliance.