FG targets $1bn from tax amnesty scheme


By Adaeze Okechukwu

LAGOS—THE Federal Government is targeting to rake in about $1 billion from the on-going Voluntary Income and Asset Declaration Scheme, VAIDS, before the deadline on March 31, 2018.

Tax & policemen

The Minister of Finance, Kemi Adeosun, who made this disclosure on the sidelines of the VAIDS training workshop in Lagos at the weekend, said the ministry had received $110 million already from just two companies.

She said: “We have set $1 billion as the success target. However, it’s not really about how much money that comes in. For me, it’s about getting people into the tax net, going forward. Once people start declaring the appropriate income, that revenue for the government will be continuous. Hence, regardless of the oil price, the government will have a steady source of revenue.

“The problems we have faced in the last two years would not have occurred…

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