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President Muhammadu Buhari has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30, 2018.
The programme was originally billed to end on March 31. The presidency, in a tweet on Wednesday, said the extension was based on the appeals of professional bodies and individual taxpayers.
It however warned that no further extension of time will be approved after June 30.
The President added that a new date was also given, based on the conviction of Ministry of Finance that the overall objective to increase compliance will be attained, and additional revenue will accrue.
A fresh Executive Order will be made to give legal backing to the new timeline, the statement added
According to President Buhari, “For a nation of people who are competitive and driven, it is not a pride that we are the lowest performer in tax to GDP, not just in Africa, but in the world.”
“Nigeria’s growth needs are such that every Nigerian must do his duty to his nation, to his neighbour, and to himself.”