VAIDS: FIRS To Offer Free Consultancy Services To Tax Payers

Razaq Babs

The Federal Inland Revenue Service (FIRS) will offer free advisory services to taxpayers, who are ready to comply with the Voluntary Assets and Income Declaration Scheme (VAIDS).

This was disclosed by Mr. Tunde Fowler, FIRS Executive Chairman, at a media workshop on VAIDS in Lagos on Wednesday.

Speaking at the event, which held at Protea Hotel, Ikeja GRA, Fowler said the FIRS will help prospective declarers with documentation and advice whenever the service is approached.

According to the FIRS Chairman, taxation is a considerably more reliable source of revenue than oil.

He urged those who have earned undeclared incomes to take advantage of the window provided by VAIDS to regularise their tax status.

The workshop featured presentations by tax experts on the role of data in taxation, tax amnesty programmes in other countries and the provision of VAIDS.

Fowler added that a total of N17 billion has been realised from the scheme in six months, adding that the scheme is expected to rake in another N6 billion before the end of the year.