LIRS sensitises Lagosians on tax
The Lagos State Board of Inland Revenue, LIRS, has begun a campaign to educate residents of the state on the advantages of responding to Voluntary Assets and Income Declaration Scheme (VAIDS).
VAIDS is the Federal Government initiative to give a time-limited opportunity for taxpayers to regularise their tax status relating to previous tax periods.
The campaign, a sensitization walk/road show, took top management staff and workers of the LIRS, who included the Executive Chairman of the agency, Ayo Subair, to some shopping malls in the Lagos metropolis.
Other top directors of the LIRS on the sensitisation walk were the Assistant Director Training School, Igho Orienru; Board Secretary, Jimi Aina; Director Finance and Accounts, Maruf Tijani; and Assistant Director, HNWI and Withholding Tax, Mr. Abiru.
At Shoprite in Alausa, Ikeja, the Executive Chairman explained to the people the rationale behind VAIDS and inherent benefits.
Subair said Nigerians, who voluntarily declare their tax status within the period of the first phase of VAIDS, between July 1 to December 31, 2017 and the second phase January 1 to March 31, 2018, stand to gain some benefits in exchange for fully and honestly declaring previously undisclosed assets and income.
The disclosure include, but not limited to tax payers benefiting from the forgiveness of overdue interests and penalties, and the assurance that they will not face criminal prosecution for tax offences or be subject to tax investigations.
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