VAIDS only upped tax base, not revenue—FIRS
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has opened up on the true performance of the Voluntary Assets and Income Declaration Scheme (VAIDS) regime during the first term of President Muhammadu Buhari (2015-2019). In an interview…
With structures in place, we expect 45m Nigerians in tax net by July—FIRS
The Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has revealed that all things being equal, Nigerians that regularly fulfill their tax obligations to the Federal Government will hit about 45 million before the end of July. In…
FG’s VAIDS only achieved 10% success with huge cost—Fasua
Fresh insights have emerged on the failure of the Federal Government’s success target on Voluntary Assets and Income Declaration Scheme (VAIDS), one of the measures instituted by Muhammadu Buhari administration to improve tax collection. It was brought in via executive…
Buhari cedes to PEPs outcries, extends VAIDS deadline to June 30
Considering unprecedented pleas from supposedly politically exposed persons (PEPs) and business leaders who had issues in approaching the Federal Inland Revenue Service (FIRS) for their voluntary tax declarations before March 31st deadline, President Muhammadu Buhari has approved the extension of…
VAIDS: Only Act of NASS can establish Special Tax Courts, not ministry—Ubani
Indications have emerged showing that the trending announcement by the Minister of Finance, Mrs. Kemi Adeosun, that federal government will from April 1, this year begin the trials of identified 130,000 high profile tax evaders, may not work after all….
Experts blame Ministry for porous, unsecured tax campaign architecture on VAIDS
Digital fraudsters have cashed in on the observed weak, unsecured and poorly structured tax awareness drive of the Ministry of Finance through the Voluntary Assets and Income Declaration Scheme (VAIDS). Analysts say what may have prompted the fraudsters to cash…
Sorrow awaits tax evaders’ who fail to take VAIDS advantage from month end—Minister
The Minister of Finance, Mrs. Kemi Adeosun in Kaduna on Thursday, called on tax evaders’ or those who have not declared their income or pay taxes accordingly to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS) or…
VAIDS, tax amnesty deal to yield a total of N23bn in 6 months—Fowler
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler has revealed that the Voluntary Assets and Income Declaration Scheme (VAIDS), a tax amnesty programme introduced to encourage defaulting tax payers regularize their tax records without recourse…
Sanctions await tax defaulters’ who failed to comply with VAIDS – FG
The federal government is still tightening its strategic efforts to capture everybody in its massive tax net, using the newly introduced Voluntary Assets and Income Declaration Scheme (VAIDS). To raise awareness and quicken compliance to the amnesty-styled scheme, the Minister…
Only technology can capture SMEs into Nigerian tax basket—IMF
The International Monetary Fund (IMF) has argued that beyond tax reforms targeting mega businesses, “Another way Nigeria’s Federal and State Governments could enhance compliance is by encouraging businesses of all sizes to use technology to streamline capturing of transactions and…
