Ajumogobia Okeke, Logo

Voluntary Assets and Income Declaration Scheme (VAIDS)*

This paper provides an insight into the legality and administration of the recent tax amnesty introduced by the Federal Government of Nigeria towards widening the tax base and generating the much needed Internally Generated Revenue (IGR). The aim of the tax amnesty is to bring to the tax office; taxpayers that have been hitherto unregistered, unknown; as well as to capture undisclosed/ hidden assets and income.

Despite questions about the powers of the executive arm of the government to introduce a subsidiary legislation, this paper agrees that the tax amnesty is necessary to curb tax evasion and increase government revenue.