ABUJA, JUNE 29, 2017 – The federal government has read the riot act to tax defaulters in the country, given them up to March 31, 2018 to voluntarily declare their assets and income, as well as, pay necessary taxes or face criminal prosecution.
Acting President Yemi Osinbajo handed down the ultimatum at the launch of the Voluntary Assets and Income Declaration Scheme, in Abuja, yesterday.
He disclosed that the administration has gathered financial intelligence on the assets of Nigerians at home and abroad in the law 15 months.
According to him, 214 people were paying an annual tax of N20m in the country, on their own, which he said was a far cry from the large number of high networth people in the country. Incidentally, the Ag. President disclosed that all those in that category were in Lagos.