The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

Osinbajo declares Tax Thursdays

Arin Odumusi by Arin Odumusi
June 29, 2017
in Headline News
FG appoints Bolaji Adebiyi, 20 others as Federal Permanent Secretaries

Acting president, Yemi Osinbajo

0
SHARES
3
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Acting President Yemi Osinbajo has declared every Thursday for the next one year “Tax Thursday” in order to further raise awareness.

Federal Government has declared every Thursday “Tax Thursday”, to create awareness on payment of tax and accrued benefits.

You might also like

Buhari: Tinubu Declares 7 Days Mourning, Summons Emergency FEC Meeting

10 Things To Know About Nigeria’s Late Former President, Muhammadu Buhari

Result Collation: Heavy Security At LASIEC Headquarters

Osinbajo, speaking at the launching of the Voluntary Assets and Income Declaration Scheme, (VAIDS) on Thursday said the programme would target at least four million new taxpayers from the 36 states and the Federal Capital Territory.

Nigeria hopes to raise at least $1 billion from VAIDS, a scheme that will give tax evaders a chance to make payments retrospectively.

The Ministry of Finance said the scheme would give evaders immunity from prosecution, penalty charges and interest if they “regularise their tax status” between July 1 and December 31, 2017.

It said tax evaders who delayed participation until after December 31 would be liable for interest on overdue tax balances.

International asset tracers and investigative specialists have been appointed to assist the government in tracing assets held by Nigerians, the ministry said in an emailed statement.

“Anticipated funds to be raised are at least $1 billion, which will reduce Nigeria’s borrowing needs, allow investment in vital infrastructure and spur development,” said the finance ministry statement.

The country’s record N7.44 trillion 2017 budget, signed into law recently, seeks to increase capital expenditure to stimulate growth.

Economists have long criticised the low levels of tax in Africa’s most populous country and in March the government laid out plans to increase its overall tax to GDP ratio to 15 per cent by 2020 from 6 per cent now.

The ministry said in May that it would increase the interest rate on unpaid taxes to discourage companies and individuals from paying late and racking up a larger debt.

The government has previously announced plans to increase a luxury goods tax to 15 per cent from five per cent

Arin Odumusi

Arin Odumusi

Recommended For You

Alt="President Bola Ahmed Tinubu"

Buhari: Tinubu Declares 7 Days Mourning, Summons Emergency FEC Meeting

President Bola Tinubu has disclosed that former President Muhammadu Buhari will receive a state burial befitting of his contributions to the country. President Tinubu also summoned an emergency...

Ministers

10 Things To Know About Nigeria’s Late Former President, Muhammadu Buhari

Former Nigerian President, Muhammadu Buhari has passed away at the age of 82, according to an official announcement made by his former spokesman, Garba Shehu, on Sunday, July 13, 2025....

Alt="Nigerian Policemen"

Result Collation: Heavy Security At LASIEC Headquarters

  There was a heavy security presence at Lancaster Street in the Sabo Yaba area of Lagos State, headquarters of the Lagos State Independent Electoral Commission (LASIEC), on...

Drama As Peller Interviews Over 20 Master’s Degree Holders For Cameraman Role

Drama As Peller Interviews Over 20 Master’s Degree Holders For Cameraman Role

TikTok star sets ₦500,000 salary for cameraman job, requires Master’s degree Video of graduates lining up for the position sparks outrage online Nigerians question system failure as influencer...

Next Post
Court orders forfeiture of N3bn Alison-Madueke property

How INEC officers received N264 m from Allison-Madueke —Witness




Related News

17 Burnt To Death In Lagos-Ibadan Expressway Accident

17 Burnt To Death In Lagos-Ibadan Expressway Accident

MY MERCEDES IS BIGGER THAN YOURS

#EndSARS: INSIDE PMB’S PARLEY WITH FORMER HEADS OF STATE

Acting CJN swears in remaining 13 members of election petitions tribunals

Acting CJN swears in remaining 13 members of election petitions tribunals




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited