Minister of Finance, Mrs. Kemi Adeosun, on Tuesday, disclosed that the Federal Government revenue from Value Added Tax (VAT) between January and October stood at ₦797.51 billion, even as she assured the aggressive tax compliance drive will be extended to the private sector and Ministries Department and Agencies (MDAs). Adeosun, who disclosed this in a […]
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Four months after the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS), which commenced on July 1, an estimated $50 million has already been raised by tax authorities. The Chairman of Federal Inland Revenue Service (FIRS), Babatunde Fowler, made the disclosure at the Nigeria Governors’ Forum Secretariat (NGFS) annual IGR Peer Learning […]
Read More Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has said the Federal Government would soon start collecting luxury taxes. Addressing newsmen at the annual meeting of the World Bank and International Monetary Fund, IMF, in Washington DC on Sunday, Mrs Adeosun said people with higher income must bear a greater part of the tax burden. “The […]
Read More The Executive Chairman of the Federal Inland Revenue Service’s, Tunde Fowler yesterday said that a total of ₦2.5 trillion was added to the Federal Government’s coffer by the agency between January and August, 2017, despite the harsh economic climate. Speaking at a public lecture organised by Finance Correspondents Association of Nigeria (FICAN) Abuja branch to mark […]
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The informal sector of the Nigerian economy comprising of people at the bottom of the pyramid are the biggest tax evaders. Minister of Finance, Mrs. Kemi Adeosun, said this while fielding questions from the media at a campaign in Lagos on the Voluntary Asset and Income Declaration Scheme (VAIDS). Asked whether proceeds from begging are […]
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The Federal Government has engaged Kroll, a United Kingdom-based forensic and assets-tracing firm, and some other foreign firms to trace the assets of very wealthy Nigerians at home and abroad. According to reports, the names of 150 very wealthy Nigerians are on the list for the first batch of the exercise, which is expected to […]
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Federal Government yesterday, said that the recently-launched Voluntary Assets and Income Declaration Scheme (VAIDS) will attract over $1 million into the nation’s coffers. Speaking during a sensitization workshop on the scheme organised by PricewaterhouseCoopers (PWC) in Lagos, Minister of Finance, Mrs Kemi Adeosun, said that the Federal Government has a target of about $1 billion […]
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Acting President Yemi Osinbajo, has offered nine months grace to tax payers to regularise their tax status or face criminal prosecution for tax evasion. Osinbajo gave the ultimatum in Abuja on Thursday at the inauguration of the Voluntary Assets and Income Declaration Scheme (VAIDS). He said the scheme was specially targeted at taxpayers who are […]
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