The Nigerian media has been tasked to take tax education
seriously by engaging on the concerned subjects to make their role meaningful
to the society, to facilitate the right conversation leveraging on the Voluntary
Assets and Income Declaration Scheme (VAIDS), reports ITRealms.
The Partner and Head of Tax and Regulatory Services at PricewaterhouseCoopers
(PwC) Nigeria, Mr. Taiwo Oyedele gave this charge at the 2017 one-day PwC
Capability Enhancement Workshop for Journalists at Grand Junction, Landmark
Towers, Oniru, Victoria Island in Lagos on Tuesday.
Dwelling on “The Media and Tax Payment – Focus on VAIDS”
alongside Tax Partner, PwC Nigeria, Mr. Kenneth Erikume, Mr. Oyedele noted that
media must educate itself, so as to educate others, especially the populace who
look up to media for right direction.
He also said that Nigerian media should educate the public
and encourage them to take advantage of the Voluntary Assets and Income
Declaration Scheme (VAIDS), stressing that would propel more citizens
engagement in the demand for accountability and transparency.
VAIDS, he said is a scheme introduced to change the
narrative of tax challenges and inadequacies in the country, which could be
declared either online or offline, pointing out that those desirous of using
online, should visit www.vaids.gov.ng and
those for offline could visit any tax office nearest to them.
Earlier in his presentation on “VAIDS in a nutshell and
overview of requirement,” Mr. Erikume, noted that investigations have revealed
that trust in government and transparent usage of tax revenue remain largest
concerns of citizens, especially among tax payers.
He listed some of the benefits of participating in VAIDS to
include “there is no interest, no penalties, no tax prosecution and no tax
audit.”
Erikume, pointed out that the scheme which runs from July 1,
2017 through March 31, 2018, describing it as a time-limited opportunity for
tax payers to regularize their tax status, relating to previous tax periods.
According to him, in exchange for fully and honestly
declaration of previously undisclosed assets and income, the Federal Government
through this VAIDS is offering this amnesty, which guarantees that declarants
would not face any criminal prosecution for tax offences or become subject for
tax investigations.
In the longrun, he said, VAIDS ushers in an opportunity to
increase the nation’s general tax awareness and compliance and urged Nigerians
to embrace the scheme.
Remmy Nweke/ED, Ops
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