Osinbajo Declares “Tax Thursday” In Nigeria, Signs Executive Order On Asset Declaration Scheme

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Acting President Yemi Osinbajo has declared every Thursday “Tax Thursday”, to create awareness among Nigerians on payment of tax and accrued benefits, Premium Times reports.

Speaking today at the launching of the Voluntary Assets and Income Declaration Scheme (VAIDS) in Abuja, the acting president said the programme will last one year, and will target at least 4 million new taxpayers from the 36 states and the Federal Capital Territory.

In an attempt to buttress the declaration, Osinbajo also signed an Executive Order to Back the Voluntary Asset and Income Declaration Scheme (VAIDS).

The Punch reports that the signing of the Executive Order was also done during the formal launch of the VAIDS scheme at the Banquet Hall of the State House.

It was witnessed by the Minister of Finance, Mrs Kemi Adeosun, Governors of Ogun, Kaduna, and Zamfara among others.

The Acting President said the new initiative is targeted at increasing tax awareness and compliance, as well as grant tax payers a time-limited opportunity to regularise their tax status without penalty.

He said the scheme will be jointly executed by the Federal and State Governments, and would concentrate on the obligations of all Nigerian companies and citizens to pay their taxes, wherever their income is earned, wherever they reside and no matter how rich they are.

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