VAIDS: Experts Warn Against Non-Declaration


Babatunde Fowler: FIRS chairman

Tax experts have warned against non-compliance with the Voluntary Assets and Income Declaration Scheme (VAIDS), a tax amnesty programme of the Federal Ministry of Finance.

Speaking at a one-day VAIDS workshop for professionals in tax advisory services in Port Harcourt on Tuesday, the experts warned that those who fail to fully declare their assets and incomes at the expiration of the window offered by the scheme on 31 March risk prosecution among other penalties.

Among the speakers was Chief Cyril Ede, President, Chartered Institute of Taxation of Nigeria (CITN), who warned that there will be no hiding place for tax avoiders.

Ede advised eligible taxpayers to take advantage of the time-limited opportunity provided by VAIDS, explaining that measures have been instituted to fish out avoiders easily.

“No more hiding place for tax evaders. The time…

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