FG Obtains list of 500 Nigerians with Property, Trust Abroad, Underpaying taxes

The Finance Minister, Mrs Kemi Adeosun has informed the Federal Executive Council of Nigeria that a list of about 500 Nigerians with property and trusts abroad has been obtained to determine their tax compliance status at home.

She explained that such Nigerians can take advantage of the Voluntary Assets & Income Declaration Scheme, VAIDS, to settle past taxation defaults.

She further stated that Letters would soon be going out to these Nigerians, including a number of prominent ones, asking them to take advantage of the tax amnesty in order to avoid prosecution and fines by simply paying up their tax defaults.

The amnesty is available till March next year.

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