Osinbajo signs executive order on tax payment nationwide

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Nigeria’s Acting President, Prof. Yemi Osinbajo (SAN) has signed an Executive Order to back the Voluntary Asset and Income Declaration Scheme.

Speaking on Thursday at the formal launch of the Voluntary Asset and Income Declaration (VAIDS) scheme at the Presidential villa, Abuja Osinbajo made it clear that the programme will last one year, and will target at least 4 million new taxpayers from the 36 states and the Federal Capital Territory.

He said “the new initiative is targeted at increasing tax awareness and compliance, as well as grant taxpayers a time-limited opportunity to regularise their tax status without penalty.

“The scheme which will be jointly executed by the Federal and State Governments, would concentrate on the obligations of all Nigerian companies and citizens to pay their taxes, wherever their income is earned.”

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