The Voluntary Assets and Income Declaration Scheme (VAIDS) has deployed over 700 graduates to nine states and the Federal Capital Territory (FCT) – who will serve as community tax liaison officers (CTLOs).
[ICYMI: We are here for this VAIDS explainer video]
Highlights (Report from TheCable):
- The CTLOs were trained for the purpose of sensitising taxpayers.
- VAIDS was launched on June 29 via an executive order signed by Vice-President Yemi Osinbajo.
- It has the mandate to increase the number of taxpayers in the tax net and raise a projected revenue of $1 billion.
- The scheme would be implemented by the Federal Inland Revenue Service (FIRS) in collaboration with all 36 states internal revenue services (IRS) and the FCT IRS.
- It is applicable to all persons liable to tax in Nigeria.
- Taxes covered include companies income tax, personal income tax, petroleum profits tax, capital gains tax, value added tax, stamp duties, tertiary education tax and NITDA levy.
