The Minister of finance, Mrs Kemi Adeosun has threatened that the Federal Government will expose, disgrace and prosecute tax evaders that do not use that Voluntary Assets and Income Declaration Scheme (VAIDS) to regularise their tax profiles.
Naija News Learnt that she also stated that the current agreement on confidentiality of the automatic exchange of financial account information in tax matters would strictly be adhered to by the federal government in line with the guidelines of the Organisation for Economic Co-operation and Development (OECD).
This she stated yesterday during the VAIDS Stakeholders Symposium held at the Umaru Shehu Yar’Adua Centre, Murtala Square, in Kaduna State.
Naija News gathered that also in attendance was governor of the state, Malam Nasir El-Rufai; Accountant-General of the Federation, Alhaji Idris Ahmed; Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler; members of the State Executive Council, captains of industry and business owners.
Adeosun said: “The Federal Government has the political will and data to go after tax evaders who fail to take advantage of the tax amnesty programme. Many Nigerians cannot explain their lifestyles or match their lifestyles, assets and income with their tax payment.
“We will close VAIDS at the expiration of the programme on March 31, 2018. And once the programme is closed, we will name and shame and also prosecute tax evaders.”
She noted that the information sourced through data sharing with foreign countries would strictly be used for tax purposes.
Meanwhile, El-Rufai, who declared his assets in 2017, commended the collaboration between the federal and state governments on tax.
He also pledged make available land ownership data to tax authorities at as a measure to bring more income earners and asset owners into the tax net.