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Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by postbox: 6:59am On Feb 15, 2018
On July 1st, 2017, the Federal Government of Nigeria (FG) launched the Voluntary Asset and Income Declaration Scheme-VAIDS, granting a 9-month amnesty period to all defaulters to voluntarily declare their assets and income within and outside Nigeria for the purpose ascertaining their outstanding tax liability or face criminal prosecution at the expiration of the grace period.

Nigeria Tax/GDP ratio is lowest in the world at 6% (compared to 15-30% for peers). Thus, the Scheme provides a one-time opportunity for defaulters to regularize their tax status relating to previous tax periods; pay all outstanding taxes and prevent/stop tax evasion.


The 9-month amnesty period is expected to expire on 31-March-2018. Hence, the FG has vowed not to extend the deadline. To help our clients navigate their way through the process, United Capital Research Daily insight will be focused on key provisions of the scheme over the next few days while further creating awareness on the importance of adherence to the provisions of VAIDS.

Specifically, we will look at;

Benefits of compliance vs. penalties for non-complianceEligible assets, incomes, and participantsThe requirement for valid declaration; and methodology, structuring, and flexibility of payment under VAIDS.Other issues such as declaring anonymously, tax already paid, confidentiality.


SOURCE:https://brandspurng.com/voluntary-assets-and-income-declaration-scheme-vaids-what-you-need-to-know/

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by rodeo0070(m): 7:19am On Feb 15, 2018
Make una declare your assets o

1 Like

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by BrandSpurNG: 7:03am On Feb 16, 2018
ok na
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by nony43(m): 7:09am On Feb 16, 2018
B
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by B3sty(m): 7:10am On Feb 16, 2018
Buhari and his cronies should first declare their Assets, Government of Scam.

20 Likes 2 Shares

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by vicfajeze: 7:10am On Feb 16, 2018
nony43:
B
STAIRI
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by Alejoas(m): 7:10am On Feb 16, 2018
Noted!
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by anibirelawal(m): 7:10am On Feb 16, 2018
Is it for everyone to declare his or her assets or to some selected individuals.
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by kollinz1234(m): 7:11am On Feb 16, 2018
This administration self! Everything is threat threat and more threat. I keep telling ppl that this is a new system of government which only Nigeria practice. It is called 'military democracy'. And it was founded in Nigeria 2015

8 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by BruncleZuma: 7:12am On Feb 16, 2018
grin grin grin grin

Please lead by example...you want to compare countries where things work and institutions are independent and respected by the government to Nigeria,
abeg which of those countries dey struggle to supply electricity, water and a stable economy? Peers my ****

13 Likes 4 Shares

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by iammarvellux(m): 7:12am On Feb 16, 2018
Ok....


Seat booked.
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by eliok(m): 7:13am On Feb 16, 2018
wish they continue to follow through. help the graduate s fresh opening and recruit here
www.youwinconnectng.tk
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by deepwater(f): 7:13am On Feb 16, 2018
Lol
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by tiredoflife(m): 7:14am On Feb 16, 2018
Buhari don declare him own
Why I go delcear my own
undecided

5 Likes 1 Share

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by SpaceAngel: 7:15am On Feb 16, 2018
I'll declare mine if the tax will truly used for what it is mean't for.

1 Like

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by shanaka4u(m): 7:16am On Feb 16, 2018
Have My Itel 5130 Phone.Three Simcards Glo,Mtn,etisalat,my Two Certs,no Money,two Black Shoes,2 Outdated Suits,no Wife Nor Girlfrnd(who Go Even Marry Me). These Are My Assets And I Declare Dem Voluntarily.Do Same.Thanks

5 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by Nobody: 7:18am On Feb 16, 2018
As beautiful as this sound, there is is a lot of ways to avoid complying with it, i think government should put PROPERTY VERIFICATION NUMBER (PVN) in use and u will see what will be recover from those bigot looters.

2 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by Flexherbal(m): 7:21am On Feb 16, 2018
Our challenge is what they do with taxes paid.

1 Like 1 Share

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by seanswitch(m): 7:21am On Feb 16, 2018
Let all the politicians that have tasted government money from 1999 declare there assets first. I bet you we will hear less siren on our roads and those houses without occupants in Abuja will become Orphans.

2 Likes 1 Share

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by kc2hansome(m): 7:23am On Feb 16, 2018
Our Presidiot should formally declare his asset and lead by example.
Every day this government keeps saying what others should do without looking at themselves first. Bloody hypocrite.

Modified: The way some forgotten moniker resurrected this campaign year (2018) is alarming.
Whatever they try, it's back to Daura 2019!!!.

2 Likes 1 Share

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by kings09(m): 7:23am On Feb 16, 2018
All d monies from normal tax accruals wat have u done wit it.

Stamp duty revenue nko.

1 Like 1 Share

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by TaiKuun(m): 7:27am On Feb 16, 2018
As long as it is still labeled VOLUNTARY. These people wouldn't take it seriously.


I am a graphic designer and web developer. see my signature for contact details. Thank you

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by ybalogs(m): 7:29am On Feb 16, 2018
Breaking News:

Prophet Joseph Ebun of Light of the Living Word Church in Lagos has awoken two people from the mortuary today at LASUTH. The two are John Amenyo, 32 years old and Gabriel Opara 29 years of age. They are guards at the said hospital, and he woke them up after finding them sleeping on duty.........

I'm coming... let me go and check the rice i'm cooking.
Good morning Nairalanders. TGIF

1 Like

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by ybalogs(m): 7:32am On Feb 16, 2018
Make I declare and become food for EFCC and their ilks abi Free me abeg.

1 Like

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by ybalogs(m): 7:33am On Feb 16, 2018
I will declare once Saraki gets prosecuted for declaring false assets. Once that's not done, it remains an exercise in futility.

2 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by mekaboy(m): 7:33am On Feb 16, 2018
I want to know what yusuf buhari does for a living to afford power bikes of 50 million.

3 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by israelmao(m): 7:34am On Feb 16, 2018
A lot of fraud in asset declaration is going on.

1 Like

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by OludareIsola(m): 7:37am On Feb 16, 2018
kollinz1234:
This administration self! Everything is threat threat and more threat. I keep telling ppl that this is a new system of government which only Nigeria practice. It is called 'military democracy'. And it was founded in Nigeria 2015
.

The declaration of income and assets is necessary because it's an obvious tax that people are evading tax in their droves in Nigeria. What makes it more important as at now is that the price of crude oil per barrel at the international market is on the low side people which means the oil that has always been our sustenance over the years it's no longer anymore hence the government needs to keep running reason
sourcing for revenue through tax which is compulsory anyway. Reason for VAIDS.
Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by TheKingIsHere: 7:39am On Feb 16, 2018
OludareIsola:
.

The declaration of income and assets is necessary because it's an obvious tax that people are evading tax in their droves in Nigeria. What makes it more important as at now is that the price of crude oil per barrel at the international market is on the low side people which means the oil that has always been our sustenance over the years it's no longer anymore hence the government needs to keep running reason
sourcing for revenue through tax which is compulsory anyway. Reason for VAIDS.

Tell the politicians starting from Buhari to declare his assets first.

They cant be imposing that the ordinary people declare assets meanwhile they the politifcians hide their assets

2 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by PrettySatan: 7:42am On Feb 16, 2018
When the president declares his own asset we will follow suit

2 Likes

Re: Voluntary Assets And Income Declaration Scheme (VAIDS): What You Need To Know by TheKingIsHere: 7:43am On Feb 16, 2018
tiredoflife:
Buhari don declare him own
Why I go delcear my own
undecided

You dey mind dem.

Buhari refused to declare his own but they want me to declare mine.

Big jokers

2 Likes

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