Federal Inland Revenue Service

The federal government, yesterday, rejected the call to extend the deadline of the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme is a voluntary self-assessment and tax compliance window for all Nigerian individuals and business entities to pay appropriate tax arrears or face criminal prosecution at the end of the scheme at the end of March 2018.

The Chairman of the Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler, said at a VAIDS training workshop in Abuja those those concerned must comply within the specified period.

According to him, the time allowed was enough for those who have the intention to comply to do so..

“Those who have no intention of complying will not comply even if you extend the deadline to 10 years,” he said.

The President of the Chartered Institute of Taxation of Nigeria, Mr. Cyril Ede, had earlier appealed for an extension from the March deadline to September, 2018.

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