VAIDS: No hiding place for tax avoiders – FIRS boss

The Chairman of the Federal Inland Revenue Service, Tunde Fowler, on Tuesday warned tax avoiders that there is no hiding place for them with the Voluntary Assets and Income Declaration Scheme.
Fowler’s warning was contained in a keynote address at a workshop for professionals advising clients on participation in the VAIDS in Kano.
He described VAIDS as an initiative of the Federal Ministry of Finance offering tax defaulters a time-limited window to truthfully declare hidden incomes and assets, pay up taxes due over a maximum of three years and escape consequences such as interests and penalties, tax audits as well as prosecution.
Fowler explained that every taxpayer that has underpaid or has not paid tax at all is expected to take advantage of the scheme, which ends on March 31, 2018.