- Present certificates to taxpayers
BY EDMOND ODOK, ABUJA – The Federal Government has recovered over N30 billion from individuals and corporate establishments through the Voluntary Assets and Income Declaration Scheme (VAIDS)
Accordingly, it has approved the issuance of a Declaration Certificate to all taxpayers who voluntarily declared their previously undisclosed assets and income under the tax amnesty scheme.
Approved by the Minister of Finance, Mrs Kemi Adeosun, the Declaration Certificates are customised for each State tax authority, with several security features and would be issued to the taxpayers upon submission of their declaration forms
Unveiling the VAIDS Declaration Certificate at a Workshop organised for chairmen of States’ Inland Revenue Service in Abuja on Wednesday, Chairman of Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler said about 90 per cent of the amount was collected by FIRS with the remaining 10 per cent coming from the States.
Fowler, who also chairs the Joint Tax Board (JTB), also said the national taxpayers’ database had expanded from 14 million in 2016 to over 19 million in 2018, stressing that the number would translate into a positive growth in Nigeria’s Tax Revenue to GDP ratio.
The FIRS boss lauded many States of the federation for achieving considerable success in implementing the tax declaration policy, even as he challenged various tax administrators to adequately educate, enlighten and sensitize taxpayers to be fully alive to their tax obligations.
