16 April 2018

Nigeria extends Voluntary Asset and Income Declaration Scheme

Nigeria's President Muhammadu Buhari has approved the extension of the Voluntary Asset and Income Declaration Scheme (VAIDS) to June 30. The approval for the extension of the initial March 31 timeline is contained in a statement issued by the President's Special Adviser on Media and Publicity in Abuja on April 11. The short extension was based on appeals from professional bodies, individual taxpayers, and on the position of the Ministry of Finance that the overall objective to increase compliance will be attained, and additional revenue will accrue to the Government.

A Global Tax Alert, attached below, provides additional details.

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Document ID: 2018-0820