Prof. Yemi Osinbajo, Nigeria’s Acting President has signed an Executive Order to Back the Voluntary Asset and Income Declaration Scheme unveiled by the federal government earlier on Thursday.
The signing of the Executive Order at the Banquet Hall of the State House gives legal teeth to the voluntary tax scheme introduced by the ministry of finance to broaden the country’s tax base.
The signing was witnessed by the Minister of Finance, Mrs. Kemi Adeosun, Governors of Ogun, Zamfara, and Kaduna among others.
Prof Osinbajo said the new initiative is targeted at increasing tax awareness and compliance, as well as grant taxpayers a time-limited opportunity to regularise their tax status without penalty.
More to follow…