FG Sets 5-Years Jail Term For Celebrities Who Evade Taxes

The federal government have revealed plans to jail Nigerian celebrities who evade tax. The jail terms will be for 5 years.

A  nine-month grace period set out by the recently launched voluntary asset and income declaration scheme (VAIDS).

“Highly qualified” agents of the federal ministry of finance have worked with the banks, Nigeria Financial Intelligent Unit (NFIU), bureau de change (BDCs), Corporate Affairs Commission (CAC), to monitor the degree of tax compliance of many celebrities and high net worth individuals.

The government has also reviewed land ownership, ownership of exotic cars, yatchs, private jets and other luxurious properties to understand the earnings and assets of many of these persons, relative to their taxes.

Following massive revelations, the government launched VAIDS, a scheme that allows these celebrities and other Nigerians to declare their assets and income, and pay necessary taxes without interest, penalty or investigation