Barring any extension, the Voluntary Asset and Income Declaration Scheme (VAIDS) will come to an end on March 31, 2018. VAIDS, an initiative by the Federal Government to allow Nigerians regularise their tax status, started back in July 2017. It is believed that the scheme will give the government access to a sustainable revenue source

Babatunde Fowler, executive chairman, Federal Inland Revenue Service (FIRS), says the federal government is processing court documents that will allow it sell properties of companies who have been evading taxes. Speaking on Wednesday on The Core, a Channels Television programme hosted by Kadaria Ahmed, Fowler said the N20 billion realised from the voluntary assets and

With less than a week to the end of the period afforded tax debtors to declare their indebtedness by the Voluntary Assets and Income Declaration Scheme (VAIDS), individual and corporate tax debtors have been approaching federal and state tax authorities to seek information on how to declare their previously unpaid taxes before the window shuts

As a remedial measure, VAIDS has a lot of positives. First, the awareness of the need to pay tax is becoming more pronounced. A lot of Nigerians that were totally disconnected from the tax system are starting to hear about it. With the advocacy in the media, it is drumming home the need to develop