Nigeria:
Voluntary Assets And Income Declaration Scheme (VAIDS)
06 April 2017
PwC Nigeria
To print this article, all you need is to be registered or login on Mondaq.com.
The National Executive Council [NEC] recently approved in
principle, the implementation of a Voluntary Assets and Income
Declaration Scheme (VAIDS). The Scheme is expected to come into
effect from May 2017 once formal guidelines have been issued.
The Scheme encourages voluntary disclosure of previously
undisclosed assets and income for the purpose of payment of all
outstanding tax liabilities. The Scheme will offer a limited waiver
for declaration within the specified period of time.
Read our alert below for further details.
Download PwC Tax Alert_Voluntary Assets and Income Disclosure
Scheme
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Wealth Management from Nigeria
Snapshot: Private Wealth Trends In The Middle East
Ogier
As the Middle East's ultra-high-net-worth individuals encounter unprecedented growth in personal wealth, there is a notable shift towards the professionalisation and institutionalisation of family offices.
How To Set Up A Company In DWTC With VARA Approval
The Sovereign Group
Dubai has emerged as a crucial hub for the growing virtual assets industry. It provides attractive tax incentives, a progressive regulatory framework and unique opportunities for growth and development.
UAE Foundations – The Ultimate Hybrid
AGP Law | A.G. Paphitis & Co. LLC
When is a company not a company? When is a trust not a trust? When it is a UAE foundation. Many trust, corporate and structural tax professionals have pondered over the form of entity entity...