ARTICLE
6 April 2017

Voluntary Assets And Income Declaration Scheme (VAIDS)

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PwC Nigeria

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PwC Nigeria is one of the leading professional services ?rms in Nigeria with of?ces in Lagos, Abuja and Port Harcourt, with over 1,000 staff and 31 resident partners. We are committed to serving as a force for integrity, good sense and wise solutions to the problems facing businesses and the capital markets. We are guided by one promise – to do what is right, be it with our people, clients, community, or environment.
The National Executive Council [NEC] recently approved in principle, the implementation of a Voluntary Assets and Income Declaration Scheme (VAIDS).
Nigeria Wealth Management

The National Executive Council [NEC] recently approved in principle, the implementation of a Voluntary Assets and Income Declaration Scheme (VAIDS). The Scheme is expected to come into effect from May 2017 once formal guidelines have been issued.

The Scheme encourages voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities. The Scheme will offer a limited waiver for declaration within the specified period of time.

Read our alert below for further details.

Download PwC Tax Alert_Voluntary Assets and Income Disclosure Scheme

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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