Agency sensitises public with short skits on tax declaration

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The videos, which are on YouTube, are aimed at promoting voluntary tax compliance and boost tax education among Nigerians.

This was disclosed in a press statement by the VAIDS Office in the Federal Ministry of Finance on Tuesday, November 7, 2017.

According to the statement, the campaign features short videos and skits depicting various scenarios of persons attempting to evade their taxes.

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"By its provision, VAIDS gives tax defaulters a time-limited opportunity to regularize their tax affairs by truthfully declaring and paying tax liabilities.

VAIDS was conceived by the Federal Ministry of Finance in collaboration with federal and state tax authorities to correct the defective tax orientation in the country and reflects the desire of the Federal Government to widen the tax net while offering benefits to defaulters, who voluntarily and truthfully declare their assets and pay tax liabilities," the statement read in bits.

Benefits of tax declaration

The statement further said benefits accruable to individuals and corporate bodies, who comply with VAIDS, include immunity from prosecution for tax offences, tax audits, as well as waivers of interest and penalties on unpaid taxes.

Other benefits also include the option of spreading outstanding liabilities over a maximum period of three years as may be agree with the relevant tax authority.