Tax evaders that fail to key into the Voluntary Assets and Income Declaration Scheme (VAIDS) window by March 31, 2018, will be liable for interest on overdue tax balances, forfeiture of assets, as well as imprisonment of up to five years, Minister of Finance, Mrs. Kemi Adeosun, has said.

Speaking at a one-day stakeholders meeting on VAIDS in collaboration with the Kaduna State Government yesterday in Kaduna, the minister alluded that Nigeria had just 14 million tax payers out of 70 million who were economically active.

She frowned at the fact that so many people who should be paying taxes were not, adding that, “It is the development of taxes that will help the States and the Federal Government to achieve their true potentials.

“In addition to the above, the scheme also offers tax defaulters the option of spreading payment of outstanding liabilities over a maximum period of three years as might be agreed with the relevant tax authority.

“Job creation is one of the spin-offs of the VAIDS initiative, with the scheme expected to create a total of 7,500 opportunities for Nigerians as Community Tax Liaison Officers (CTLOs) through the N-Power scheme of the Federal Government,” she said.

She added that predictable tax revenue inflow would lead to more investment by the Federal and State Governments in infrastructure and job and wealth creation across the nation.

On his part, the Executive Chairman, Kaduna State Internal Revenue Service (KDIRS), Mukhtar Ahmed said the state generated more than N200 million from the Voluntary Assets and Income Declaration Scheme (VAIDS) between June 2017 and now.

“Kaduna State has benefited from the initiative, as some individuals and companies have taken advantage of the amnesty and declared their income and assets,” he said.

https://www.dailytrust.com.ng/tax-evaders-ll-face-full-wrath-of-law-after-deadline--minister.htmlnister

I hope you go after gun-weilding cattle merchants who default tax and not just office men on N40,000/mth

What do you do with our tax?

Come and collect tax na....idiots!!

Do Fulani herdsmen pay tax?? hope you won't start coming up to people collecting 20k stipends and ask them to pay tax...

Cursed people.....

Tax that would be swallowed by snake

Before you can tax Nigerians, you need to demonstrate good leadership.

Present to us with a comprehensive work plan on how are tax will be used.