FG Declares Thursdays Tax Awareness Day

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By Modupe Gbadeyanka

Every Thursday has been set aside by the Federal Government to create awareness for tax across the country.

Acting President, Mr Yemi Osinbajo, while launching the Voluntary Assets and Income Declaration Scheme (VAIDS) in Abuja on Thursday, June 29, 2017, said Thursdays would now be known in Nigeria as ‘Tax Thursday’.

“I declare that paying taxes is our duty to our nation, and I declare the Voluntary Assets and Income Declaration Scheme open,” Mr Osinbajo declared.

He said the new scheme called VAIDS would “be supported by an Executive Order” signed today and will “last from July 1, 2017 until March 31, 2018.”

Last week, Minister of Finance, Mrs Kemi Adeosun, hinted that the new tax policy is targeting $1 billion from tax defaulters, who have been given a grace period to comply.

VAIDS is expected to capture about 4 million new taxpayers from the 36 states and the Federal Capital Territory.

The scheme is to be implemented by the Federal Government in partnership with state governments.

Mrs Adeosun said at this time of economic recession, it was important for government to raise its tax revenue.

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