The Federal Government is set to raise an additional N6billion from the implementation of the Voluntary Assets and Income Declaration Scheme (VAIDS) before the end of the year.
This is in addition to the N17billion already yielded by the scheme within six months.
Executive Chairman, Federal Inland Revenue Service (FIRS), Babatunde Fowler, disclosed this in Lagos on Wednesday, at a media workshop on VAIDS.
According to Fowler, the scheme has generated enthusiasm among taxpayers, many of whom are coming forward to declare previously undeclared incomes.
Fowler argued that VAIDS is necessary at this time in the nation’s evolution, particularly with shrinking oil revenues.
