What is VAIDS
The Nigerian Voluntary Asset and Income Declaration Scheme (VAIDS) is a time-limited opportunity for taxpayers to regularize their tax status relating to previous tax periods and pay any taxes due.
In exchange for fully and honestly declaring previously undisclosed assets and income, tax payers will benefit from forgiveness of overdue interest and penalties, and the assurance they do not face criminal prosecution for tax offences or tax investigations.
How to submit VAID Application
1. Interested persons should download VAIDS Form, fill the form (Form VA1 for individuals or form VA2 for companies) and submit it to the nearest tax office before march 31,2018. Forms are available online via vaids.gov.ng – Read More
VAIDS Application Confirmation
2. After submitting your application form, you will get confirming the receipt of your application from the relevant tax authority through email. Make sure you fill the form with a working email.
VAIDS Application Assessment
3. Information provided in your application will be assessed by the relevant tax authority, who will later request additional information and supporting documents if necessary.
Further Inquiries on VAIDS
4. If the disclosure is incomplete, a more extensive review, enabled by increasingly available robust data from local and international sources, will be conducted to create an accurate financial profile.
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