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Acting President Yemi Osinbajo, on Thursday, signed an Executive Order to back the Voluntary Asset and Income Declaration Scheme.
The signing of the Executive Order was done during the formal launch of the VAIDS scheme at the Banquet Hall of the State House.
The signing ceremony had in attendance Minister of Finance, Mrs. Kemi Adeosun as well as governors of Ogun, Kaduna and Zamfara states among other government functionaries.
The Acting President said the new initiative was targeted at increasing tax awareness and compliance, as well as grant tax payers a time-limited opportunity to regularise their tax status without penalty.
The scheme to be jointly executed by the Federal and state governments.
Osinbajo maintained that the law would concentrate on the obligations of all Nigerian companies and citizens to pay their taxes, wherever their income is earned, wherever they reside and no matter how rich they are.
Details later…
