FG rakes in N30bn from VAIDS

FacebookTwitterGoogle+PinterestLinkedInWhatsAppPinterestLinkedInWhatsApas raked in nearly N30 billion from tax the amnesty scheme, the Voluntary Assets and Income Declaration Scheme (VAIDS).

Chairman Federal inland Revenue Service (FIRS) Mr. Tunde Fowler made this disclosure in Abuja Wednesday at the official presentation of VAIDS certificate of declaration to chairmen of states’ tax revenue authority,

The VAIDS windfall Fowler said was championed by FIRS which was “responsible for the collection of 90% of the amount, while the states were responsible for the 10% collection balance.”

The N30 billion so far mopped up from tax amnesty programme he said is N3 billion higher than previous N27 billion recovered few months ago.

He reminded members of Joint Tax Board (JTB) that the beauty of VAIDS went beyond “financial gains but, rather its potential of expanding the tax net.” To this end he reiterated that the programme has also boosted the nation’s tax data base from 14 million to 19 million.