Monday, October 15, 2018

Tag "Voluntary Assets and Income Declaration Scheme (VAIDS)"

    Adeosun: We’ve saved N125bn from reducing official allowances

Adeosun: We’ve saved N125bn from reducing official allowances

Kemi Adeosun, minister of finance, says the ministry has been able to reduce travel and stationery allowances by N125 billion in 2016 and 2017.In a document released on Sunday to review the performance of the ministry between 2015 and 2017, Adeosun said this was achieved by the efficiency unit set up by the ministry in November 2015."The government has saved [...]

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    VAIDS: FIRS sets EFCC on trail of tax defaulters, recovers N28bn

VAIDS: FIRS sets EFCC on trail of tax defaulters, recovers N28bn

The Federal Inland Revenue Service (FIRS) says it has partnered with the Economic and Financial Crimes Commission (EFCC) to go after tax defaulters and has so far recovered N28 billion.This partnership is coming after the close of the Voluntary Assets and Income Declaration Scheme (VAIDS).The programme, which had offered tax defaulters room to regularise their taxes without prosecution, ended on [...]

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    Adeosun: FG reviewing requests to extend VAIDS

Adeosun: FG reviewing requests to extend VAIDS

Kemi Adeosun, minister of finance, says the federal government is reviewing requests by states and various individuals in the private sector to extend the deadline of the Voluntary Assets and Income Declaration Scheme (VAIDS).VAIDS is a nine-month tax amnesty programme created to allow various parties regularise their tax status. The deadline for the programme expired on Saturday, March 31."The federal [...]

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    Beware of fake tax officials, Adeosun warns

Beware of fake tax officials, Adeosun warns

Kemi Adeosun, minister of finance, has advised taxpayers to be wary of fake tax officials alleging to be officials of the Voluntary Assets and Income Declaration Scheme (VAIDS).In a statement released on Sunday, the minister said citizens should demand written notice when they receive phone calls from tax officials."My attention has been drawn to reports of some unidentified tax officials [...]

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    FG: We’ll name, shame tax evaders from April 1

FG: We’ll name, shame tax evaders from April 1

The federal government through the ministry of finance says it will name and prosecute tax evaders in 3o days when the Voluntary Assets and Income Declaration Scheme (VAIDS) ends.Kemi Adeosun, minister of finance, said this while speaking at the VAIDS Stakeholders symposium which held at the Shehu Yar’Adua Centre, Murtala Square, in Kaduna on Thursday.She said the federal government would [...]

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    Adeosun: Regular tax payment can protect Nigeria’s economy

Adeosun: Regular tax payment can protect Nigeria’s economy

Kemi Adeosun, minister of finance, says regular tax payment by all economically active citizens can protect Nigeria from the shocks associated with commodity boom and bust cycles.The minister spoke while providing more enlightenment about the Voluntary Assets and Income Declaration Scheme (VAIDS) in Enugu on Thursday.The Enugu state government, led by Ifeanyi Ugwuanyi, played host to the minister.In 2016, Nigeria's economy [...]

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    Fowler warns: Do the right thing, VAIDS deadline will not be extended

Fowler warns: Do the right thing, VAIDS deadline will not be extended

Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says the announced deadline for the Voluntary Assets and Income Declaration Scheme (VAIDS) will not be extended.VAIDS is a self-assessment and tax compliance window for individuals and business entities to pay tax arrears without fear of prosecution and defaulters who do not comply will be sanctioned beginning from the March [...]

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    ICYMI: We’ve discovered 800,000 companies that have never paid taxes, says Adeosun

ICYMI: We’ve discovered 800,000 companies that have never paid taxes, says Adeosun

Kemi Adeosun, minister of finance, says the ministry has discovered 800,000 companies that have never paid tax.She said the ministry is compiling a database that combines data from the various arms of government, including bank records, property and company ownership, and customs records.Adeosun said the ministry had also enlisted one of the world’s premier private investigation agencies to trace overseas assets.She said [...]

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Exchange Rates

October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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