Tax Evaders’ll Be Exposed, Fowler tells company directors

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Babatunde Fowler: FIRS chairman

Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has urged members of the Institute of Directors (IoD) to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS).

Fowler gave the advice in Lagos on Tuesday evening while making a presentation on the tax amnesty scheme to IoD members.

In the presentation titled “Achieving Voluntary Tax Compliance: The VAIDS Option”, the FIRS Chairman explained that the key motivation for introducing the scheme is that the country’s tax remittance rate remains low despite having some of Africa’s most profitable and well capitalised companies.

“Nigeria’s low tax revenues are inconsistent with the lifestyles and spending habits of a large number of citizens. Many are engaged in transfer of assets overseas, use of offshore companies in tax havens and registration…



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