Acting president, Yemi Osinbajo, Thursday gave a nine-month grace to all tax evaders to regularize their tax status or face criminal prosecution. Osinbajo gave the ultimatum at the inauguration of the Voluntary Assets and Income Declaration Scheme (VAIDs) in Abuja Thursday June 29th.
According to Osinbajo, the new scheme which is an initiative of the Buhari-led administration, was specially designed to help 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, to correct their irregularities. 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.





