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VAIDS: FG Rakes In N17b Unpaid Taxes In 6 Months

Mr. Babatunde Fowler, Chairman, Federal Inland Revenue Service (FIRS), has disclosed that the Federal Government, through the Voluntary Assets and Income Declaration Scheme (VAIDS), has collected N17billion in previously unpaid taxes over a six-month period.

Fowler made the disclosure, Thursday, at a media workshop on VAIDS in Abuja.

The FIRS Chairman also disclosed that the Federal Government is expecting the sum of N6 billion before the end of the year. He equally stated that the FIRS had also sealed off over 2,000 properties in the Abuja over owners’ failure to file annual tax returns.

“Less than 500 firms have paid N17 billion and another N6 billion is being expected to be paid before the end of December,” Fowler stated.

“In terms of number, we have not gotten the type of crucial number we envisaged when we gave tax amnesty. We have 2,700 companies that applied for it. Now, we are talking about several companies that have come under VAIDS.

“Since VAIDS was launched, we have seen over 2000 properties in Abuja that have ownership of corporate organizations that have not filed any tax, have not paid any tax.

“And that is why we gave them notice that we will shortly be going to court, we will be seizing those properties and selling those properties to make up for the outstanding tax and if there is any change, we will refund the change to them,” he said.

Fowler urged individuals and corporate entities to regularize their tax status before the March 31, 2018 deadline. He explained that VAIDS is not a witch-hunting tool of the federal government against political opponents

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