FG rakes in N30bn from VAIDS

The Chairman of the Federal Inland Revenue Service (FIRS), Tunde Fowler, yesterday disclosed that N30 billion was received from individuals and organisations during the Voluntary Assets and Income Declaration Scheme (VAIDS) amnesty period.
Mr. Fowler said this at the unveiling of the VAIDS Declaration Certificate yesterday in Abuja. The ceremony also had chairmen of states’ tax revenue agencies in attendance.
According to Mr. Fowler, while the FIRS have collected about 90 per cent of the figure, the States were responsible for collecting 10 per cent.
The FIRS boss noted that the Scheme led to a significant increase in tax payers’ database from under 14 million before 2016 to over 19 million in 2018 saying that it further heightens the need for increased collaborations between the federal government and the states to increase the number of tax payers.
With the positive response from Nigerians, Mr. Fowler expressed confidence that in the next 12-15 months the number would hit 40 million.
He admonished State Revenue Chairmen to constantly engage in enlightening tax payers about voluntary tax compliance as a way of building a friendlier tax environment.
Introducing the VAIDS declaration certificate, Executive Secretary, Joint Tax Board (JTB), Oseni Elamah explained that Certificates being issued was to tax payers that voluntarily declared their assets and income.
The Executive Secretary used the occasion to clarify between the VAIDS Declaration Certificate and the Tax Clearance Certificate.
“While the VDC is issued as evidence that the tax payer has declared previously undisclosed assets and income, the Tax Clearance Certificate is issued after the tax payer has totally paid all the tax dues,” he further explained.