FG recovers N30bn from VAIDS

 

 

The Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said the Federal Government had recovered about N30 billion from individuals and corporate establishments through the tax amnesty scheme.

He made the remarks at the unveiling of VAIDS Declaration Certificate on Wednesday in Abuja at a workshop organised for chairmen of states’ Inland Revenue Service.

According to him, 90 per cent of the amount was collected by the Federal Inland Revenue Service (FIRS), while the remaining 10 per cent was recovered by the states.
Fowler disclosed that the certificate was customised for each state tax authority with several security features and would be issued to the taxpayers upon submission of their declaration forms.

Fowler, who is also the Chairman of the Joint Tax Board, stated that the national taxpayers’ database had increased from 14 million in 2016 to over 19 million in 2018.

He expressed optimism that the number would translate into a positive growth in the country’s Tax Revenue to GDP ratio.
He commended many states whom he said have achieved significant success in implementing the tax declaration policy, and urged the various tax administrators to adequately educate, enlighten and sensitise taxpayers to be fully alive to their tax obligations.

The certificates which were approved by the Minister of Finance, Mrs. Kemi Adeosun, are to be given to taxpayers who voluntarily declared their previously undisclosed assets and income.

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