The Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS) would begin a “full scale Enforcement Exercise” on defaulting taxpayers.
This is coming after the expiration of the provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance.
In a Public Notice, titled: “Post-VAIDS Enforcement and Prosecution Exercise,” and signed by Muhammad Nami, the Executive Chairman FIRS, who doubles as the Chairman JTB, the tax bodies stated that a full-scale Enforcement Exercise, including prosecution is to commence immediately on defaulting taxpayers who did not take advantage of the Scheme (VAIDS).
A statement signed by Nami’s media aide, Johannes Oluwatobi Wojuola, on Wednesday said, “The Joint Tax Board (JTB) in conjunction with the Federal Inland Revenue Service (FIRS), is embarking on a full scale Enforcement Exercise, including prosecution of those defaulting taxable persons who did not take advantage of the Scheme,” the notice read.
“The defaulting Taxpayers will be assessed to tax in accordance with the relevant provisions of the Tax Laws.”
Taxpayers who had outstanding tax liabilities which had previously been declared under the Scheme were encouraged to pay up their outstanding liabilities immediately to avoid having the reliefs granted by the Scheme withdrawn.
It will be recalled that the VAIDS Executive Order No. 004 of 2017, provided an opportunity for taxpayers who were in default of tax liabilities to voluntarily declare their assets and income, and pay taxes due on them, and in return obtain amnesty from prosecution among other benefits for a 12 month period.
