Posted on Fri 24 Nov 2017, 05:53 AM

The National Economic Council has been informed of the list of 500 tax dodgers made up of some prominent citizens with investments abroad.

Minister of Finance, Kemi Adeosun, explained that such Nigerians can take advantage of the Voluntary Assets & Income Declaration Scheme (VAIDS) to settle past taxation defaults.

“Letters would soon be going out to these Nigerians, including a number of prominent ones, asking them to take advantage of the tax amnesty in order to avoid prosecution and fines by simply paying up their tax defaults,” she said.

The amnesty is available till March next year.

At the council meeting which was chaired by Vice-President Yemi Osinbajo, an ad hoc committee, a creation of the council, reported that a number of revenue-generating agencies may have significantly under-remitted returns to the federation account, from 2010 to 2015.

The council had previously ordered the forensic audit to review remittances of the agencies covering 2010 to May 2015.
Council was also informed of “questionable” loans granted by some of the revenue generating agencies.

Out of the 18 agencies in which forensic audit was conducted, the committee completed work on 13 agencies, two are ongoing and 3 are not revenue generating.

The 13 agencies where the audit had been completed include: NIMASA, NNPC, NPA, FIRS, NPDC, DPR, etc.

The two outstanding agencies are the Customs Service and NCC.

 

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