VAIDS implementation: FG To Train Professionals
BY AMOS DUNIA, ABUJA – As part of measures aimed at ensuring the successful implementation of the recently-launched Voluntary Asset and Income Declaration Scheme (VAIDS), the Federal Government on Tuesday said it is committed to providing free training to accountants, lawyers, wealth managers, stockbrokers and other professional advisers to the public on the scheme.
Minister of Finance, Mrs Kemi Adeosun, who announced this in a message to the Conference of the Chartered Institute of Stockbrokers held at the Trasncorps Hilton Hotel in Abuja, said the free training will equip them to advice their clients that are ready to participate in the scheme.
Adeosun said professional advisers were critical to the success of the VAIDS scheme due to their role in financial management.
In the message with the theme; “Transiting from Recession to a Global Economic Power,” the minister said those who manage wealth and undertake transactions on behalf of their clients are best placed to advise them to take advantage of the VAIDS offer by declaring their assets and income honestly.
She enjoined Stockbrokers to join hands with the Federal Government in improving tax-payer education and compliance, crediting their side customer network as a key advantage.
The Finance minister specifically commended Stockbrokers for their role in the recently launched Federal Government Savings Bonds, which relied on their distribution network.
According to her; “The success of this product shows that you continue to have a wide reach and therefore must partner with Government.”
Adeosun also commended the role of the stock brokers in the recent successful Eurobond and Diaspora Bond issuances, saying that despite the debt issuances, Government is focused on changing its financing mix and raising more revenue.
She affirmed that Nigeria is on the road to recovery and emphasised the role of investments in infrastructure to enhance productivity and competitiveness.
Citing the N1.2Trillion already released for capital projects under the 2016 budget, Adeosun assured that much more could be done if every citizen paid the correct taxes.
“It would be like thinking the unthinkable; it is time that Nigerians said Nigeria First,” Adeosun stressed.
