The Federal Government’s Tax Amnesty Ends This June
If you have been owing tax and have yet to pay up, you still have until the end of this month to regularize your payment. The period of grace will expire by June 30.
Already, officials of the Federal Government have been meeting to fine-tune the strategies for dealing with tax defaulters from the end of this month when the amnesty period expires.
Chairman of Federal Inland Revenue Service, FIRS, Mr. Tunde Fowler is said to have set up a working group to prepare for the task ahead in that regard.
Those in the group are said to be drawn from the Federal Ministries of Finance and Justice, the FIRS and the Economic and Financial Crimes Commission, EFCC.
It was gathered that this became necessary to institute legal action against individuals and companies that refuse to take advantage of the tax amnesty under the Voluntary Assets and Income Declaration Scheme, VAIDS.
The scheme was designed to take effect from July 1, 2007 but the deadline was shifted to July 2018 to enable more tax defaulters take advantage of the scheme.
The Executive Chairman of FIRS, Mr. Tunde Fowler and top officials of the organization met with the EFCC boss, Mr. Ibrahim Magu and his directors where it was agreed that the two agencies would work with the Finance and Justice Ministries to achieve the objectives of government in that regard.
At that meeting, Mr. Fowler was quoted to have said that, “there are some issues of non-remittance of withholding tax, Value Added Tax (VAT) and Personal Income Tax. The EFCC has shown support before. When tax defaulters are invited to your office (EFCC), we see result. I don’t know how you do it, but we see result.
“Recently, two banks came forward to comply on their own. I think they must have heard words. We want to join forces with EFCC, especially now that VAIDS is nearly over, to make sure that all tax defaulters get lawful treatment.”
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