Did you receive total payments of up to N100 million through the banking system between 2010 and 2015 — a period of five years? The government is coming for you — if you did not pay commensurate taxes and are yet to take advantage of the tax amnesty programme. The finance ministry says the Voluntary Assets and Income Declaration Scheme (VAIDS) has commenced the collection of data on the income and assets of high net-worth individuals and companies in the country. In a statement issued on Tuesday, it further said this is the first step in collecting intelligence that will ensure that corporate entities and individuals who may refuse to take advantage of VAIDS. Data have already been mined from the Nigerian Customs Service and the Asset Management Corporation of Nigeria (AMCON) for all payments and receipts over N100 million between 2010 and 2015 — and personal bank accounts will be in the next round of data mining. Data will also be collated from the Federal Inland Revenue Service, state lands departments, Corporate Affairs Commission (CAC), Securities and Exchange Commission (SEC), National Identity Management Commission (NIMC), land registries, treasury bills and Nigerian Inter-Bank Settlement System (NIBSS), Integrated Payroll and Personnel Information System (IPPIS), Nigerian Civil Aviation Authority (NCAA) and payment platforms such as Remitta. “The data being collected is on individual and corporate liquid as well as fixed assets and income over the last five years both within and outside Nigeria. Data collected will be profiled against tax payments made by such individuals and corporate entities,” it said. VAIDS is an initiative of the ministry of finance that provides a time-specific opportunity for taxpayers with tax liabilities to regularise their tax status by truthfully declaring previously undisclosed assets and income. Taxpayers who take advantage of the window avoid penalties and interest on taxes owed, tax audits and prosecution for tax offences. Federal government expects to generate $1 billion, raise the country’s tax-to-GDP ratio from an unimpressive 6 percent, one of the lowest in the world, to 20 percent by 2020 and provide vast tax education to boost voluntary tax compliance.]]>

Follow Our WhatsApp Channel _______________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation

______________________________________________________________________ ARTIFICIAL INTELLIGENCE FOR LAWYERS: A COMPREHENSIVE GUIDE Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria. Bonus: Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.

How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com

Ebook Version: Access directly online at: https://selar.com/prv626

______________________________________________________________________ “Bridging Theory And Courtroom Practice” — Hagler Sunny Okorie, Nathaniel Ngozi Ikeocha Unveil ‘Functional’ Tort Law Book For Nigerian Legal System The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209. ______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com