New tax law targets celebrities, individuals who show off on social media and may get up 5-year jail term for evasion | Welcome to Linda Ikeji's Blog

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Monday, 3 July 2017

New tax law targets celebrities, individuals who show off on social media and may get up 5-year jail term for evasion

For over 15-months, highly qualified agents of the federal ministry of finance have worked with the banks, Nigeria Financial Intelligent Unit (NFIU), bureau de change (BDCs), Corporate Affairs Commission (CAC), to monitor the degree of tax compliance of many celebrities and high net worth individuals.

The result is the creation of Voluntary Asset and Income Declaration Scheme (VAIDS) to broaden the country’s tax base and offer incentives for tax evaders.

With this, the federal government allows celebrities and other Nigerians to declare their assets and income, and pay necessary taxes without interest, penalty or investigation. The scheme which will run for nine months, is a grace period for celebrities to make amends or face the full wrath of the law, which could include jail term of up to five years.

The categories of people affected by the new law are:

The Entertainer 

Full time employee with multiple income sources 

Company with understated revenues 

Use of offshore tax shelters uncovered 

Lifestyle inconsistent with tax payments 

High net worth family with complex tax situation 

Retiree with unexplained assets

See all the details about the VAIDS HERE

15 comments:

Vicker said...

lol. First question the so-called FG should ask itself is ' why do Nigerians evade tax"? for me the simple reason is that I know my money will be stolen and squandered or used for

click here now if you are interested in penis enlargement

private investment by our politicians. the single most effective way of ensuring Nigerians pay tax is to make sure they get value for their money. simple!

Anonymous said...

Hushpuppi where art thou?

Ojuju said...

Boobierusky and Hushbingo.. Oya that food ona request for don dey ready o... lol

NaijaDeltaBabe said...

Issokay


... Merited happiness

EDWIN edDREAMZ CHINEDU AZUBUKO said...

Confusion go enter many people head this time bdat....

Anonymous said...

Hushpuppy and Toke Makinwa take note

whitefalcon said...

I hear.

Anonymous said...

Wait a minute. what if someone makes $ from sleeping around with senators and biz men? should "gifts" for pussy be declared as income?

EDDY WIZ said...

MR EDDY said this heat wan kill person o!

I'm loving this
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Attah Andrew Attah said...

sure way to deal with wash puppy...lols

Vivian Reginalds said...

very good!
-D great anonymous now as Vivian Reginalds

Ogwologwo said...

See what all this celebrities had caused themselves for insulting Hush The Boss.

Ifeoma Ekewuba said...

Ga juo ndi yard

Marie said...

I dnt think it's a bad idea... Celebrities have brought dis upon themselves... VAIDS is d way

Marie Flomo said...

Hushpuppi you see what u have caused

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