The Minister of Finance, Kemi Adeosun, says as from March 31sth, the Federal government will begin to name and prosecute all tax evaders in the country.
The Minister who was speaking at a taxation event in Kaduna state yesterday, said Nigerians who have not taken advantage of the amnesty provided by the Voluntary Assets and Income Declaration Scheme to regularise their tax profiles, will be name-shamed and prosecuted by the Federal government when the amnesty elapses March 31st.
”The Federal Government has the political will and data to go after tax evaders who fail to take advantage of the tax amnesty programme. Many Nigerians cannot explain their lifestyles or match their lifestyles, assets and incomes with their tax payment. We will close the VAIDS at the expiration of the programme on March 31, 2018. And once the programme is closed, we will name and shame, and prosecute tax evaders” she disclosed
According to her, VAIDS has been strengthened by the data on financial accounts, property and trusts shared by other countries.
“The offshore tax shelter system is basically over. Those who have hidden money overseas are being exposed and whilst Nigerians can legally keep their money anywhere in the world, they must first pay any taxes due to the Nigerian government so that we can fund the needs of the masses and create jobs and wealth for our people.”
She advised offshore asset owners to utilise the VAIDS window to regularise their taxes before the end of the amnesty programme.