Acting President, Yemi Osinbajo on Thursday offered nine months grace period to tax payers to regularise their tax status or face criminal prosecution for tax offences.
Osinbajo made the in Abuja at the inauguration of the Voluntary Assets and Income Declaration Scheme (VAIDs).
He said the scheme was specially targeted at taxpayers who had not declared their taxable incomes and assets, as well as those who don’t pay at all, and those who had been underpaying or under remitting.
Osinbajo said the scheme would cover all federal and state taxes such as companies’ income tax, personal income tax, petroleum profit tax, capital gains tax, stamp duties and tertiary education tax.
“The scheme will be operated from July 1, 2017 to March 31, 2018.
“It will be supported by an executive order, which I will sign into law today to offer a once in a life time…
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