SAN FRANCISCO, November 30, (THEWILL) – The Federal Government declared that there would be more letters to suspected tax evaders following the first 500 letters it sent out.
This was disclosed by the Minister of Finance, Mrs. Kemi Adeosun, declaring that FG’s revenue target of $1bn from the Voluntary Asset Declaration Scheme (VAIDS) – tax amnesty programme – might be exceeded.
She revealed that the government had sent out over 500 letters in the first batch, and that there were thousands of Nigerians being targeted saying many people had reached out to the government, pleading for more time to pay.
As part of the criteria used to get the first 500 who had received their letters, Adeosun said the government got information on land registry details from state governments and the Federal Capital Territory Administration.
She stated that information was also obtained from the Bank Verification Number and registration with the Corporate Affairs Commission.
“On the amount expected, we projected $1bn and we have already got $110m and that is just from two companies. So, we feel we might exceed that target,” she declared.
“Most of the governors have agreed to give more time for people to make arrangements for payments.
“This is indeed a very good news for Nigeria as it will help reduce over-reliance on oil. It will improve our tax revenue so that whether oil prices are high or low, we will be able to provide basic services for our people.
“Very high net worth people are now being brought into the tax revenue profile. We hope to exceed the target that has been set.
“If someone lives in Lagos and has properties in Kaduna, London etc., but only declares part, with these information, we will get them.
“We also looked at people who had come out in the Panama and Paradise papers. We looked at people who have companies being paid by the government but are not paying the right taxes.
“Even if you have not got a letter yet, do not think we have forgotten you. These are just the first 500, others will soon follow. It does not mean that we do not have you on our radar.”
