The Federal Inland Revenue Service (FIRS) said Monday that it has realised $50 million through the Voluntary Assets and Income Declaration Scheme (VAIDS), which commenced July, 2017.
This was disclosed by the chairman of FIRS, Mr. Babatunde Fowler, at the Nigeria Governors’ Forum Secretariat (NGFS) annual IGR Peer Learning Event in Abuja.
VAIDS is an initiative designed to encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities.
“I am glad to note that a lot of enquires have been made both at the state and federal level. At the federal level over $50 million have been realised through this scheme today.
“I will like also to use this opportunity to call on the general public to give total support to tax authorities and revenue agencies to enable us efficiently discharge our duties by collecting the needed revenue to fund government projects and services.
“We believe that payment of tax is your contribution towards the society we live. As tax administrators, we have created a platform where other revenue agencies such as Nigeria Custom Service, Immigration and Federal Road Safety Corps work hand in hand to optimise revenue collection,” he said.
The FIRS boss said by the end of the year, the database on those who pay tax would be completed, stressing that defaulters may not enjoy government services from next year.
“I will like to inform everyone here that the consolidation of our tax database is now being completed, this means that before end of the year 2017, wherever you are as long as you are a tax administrator, you hit the button and know the tax status of any individual and organisations regardless of where they are located.
“There will be also be a time when we ask other revenue agencies such as Customs and Immigration that services should be offered to only tax inclined corporation and individuals. We highlighted sometimes last year that before you get service from any of these organisations be it immigration for your passport renewal, issuance, you have to show evidence of your tax payment,” he said.
He said the Memorandum of Understanding (MOU) signed between the FIRS and various revenue generating bodies across the country is making progress, stressing that the collaboration between the federal and state governments was necessary, especially at a time the nation is facing economic challenges.
