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| Chairman, FIRS, Mr. Babatunde Fowler |
Fowler made this known on Monday while
speaking at an event organised by the Nigeria governors’ forum secretariat in
Abuja.
Pointing to VAIDS as a key to revenue
generation, Fowler said the scheme should not be taken lightly by taxpayers as
the tax waiver they currently enjoy will cease by March 2018.
“I am glad to note that a lot of enquires have
been made both at the state and federal level,” he said.
“At the federal level over $50 million have
been realised through this scheme today.
“I will like also to use this opportunity to
call on the general public to give total support to tax authorities and revenue
agencies to enable us efficiently discharge our duties by collecting the needed
revenue to fund government projects and services.
“To address the challenges we have discussed,
the government has proposed to access and obtain information from all
categories of tax payers through VAIDS.
“Under this scheme, all taxpayers who are in
default of payment will be required to voluntarily declare their income before
March 31, 2018.
“We hope from this month on, all states will
be complaint with remittance of VAT and holding tax as at when due. This
will not only increase IGR at the state level but will also increase IGR at the
federal level.”
The ministry of finance introduced VAIDS on
July 1 to ensure that individuals and corporate entities are given a
time-limited opportunity to voluntarily declare their income and assets as the
basis for tax assessment.
Source: The Cable
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