The Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has advised Nigerians with tax liabilities to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS), as political, social or economic prominence will not insulate them from sanctions for non-declaration.
Fowler gave the advice in an interview in Lagos on Saturday. According to Vanguard, VAIDS offers all categories of tax debtors the opportunity to regularize their tax status and warned that failure to take advantage of the tax amnesty programme, which ends on 31 March, 2018, will attract a number of sanctions. These, he said, includes payment of penalties and interests on owed taxes, tax audits and prosecution.
He said no matter how highly placed tax evaders are, action would be taken against them when the window closes.
“I am a nominee of the President. I was confirmed by the Senate. We work with the Vice President who is the head of the Economic Team, and the Federal Ministry of Finance. We have not been instructed to avoid, on account of political or corporate position, taking necessary actions to recover taxes.
“I do not think it will happen. VAIDS is for all Nigerians old enough to pay tax. It will speed up development of the country,” said Fowler.
He hinted that FIRS was in possession of huge volumes of transaction and financial data obtained from banks, payment platforms and government agencies.
