The Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, yesterday said the Voluntary Assets and Income Declaration Scheme (VAIDS), has generated N16.9 billion into the coffers of the Federal Government.
Speaking at an interactive session for review of 2018–2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) in Abuja, he said the agency recorded 79.35 per cent (N3.233 trillion) of its 2017 target within 10 months, adding that the FIRS already had strategies for achieving its objectives in the 2018 budget.
The programme was organised by the House of Representatives Committee on Finance and Appropriations.
He also said the FIRS justification for 2018-2020 revenue frameworks was based on the Federal Government’s Economic Recovery and Growth Plan.
Fowler said the tax assessment carried out between 2013 and 2015 showed that N1 trillion was raised and that the collection from tax audit exercise stood at N36.59 billion.
According to him, this exercise has yielded N3.
Fowler: Fed Govt earns N16.9b from VAIDS
