Nigerians React To New Executive Order Signed By President Buhari That Enforces Nigerians Who Hold Offshore Assets And Incomes To Pay Tax To Nigeria


Yesterday, Buhari singed a new Executive Order that mandate Nigerian taxpayers who hold offshore assets and incomes to, within a period of 12 months, voluntarily declare those assets and pay taxes on them.

He wrote: I have signed a new Executive Order (EO 008), the Voluntary Offshore Assets Regularization Scheme (VOARS), mandating Nigerian taxpayers who hold offshore assets and incomes to, within a period of 12 months, voluntarily declare those assets and pay taxes on them. We are stepping up the fight against corruption, targeting money laundering and tax evasion. The new Executive Order takes effect from Monday, October 8, 2018. The Office of the Attorney-General and Minister of Justice has been mandated to set up a VOARS in Switzerland for all categories of taxpayers who have defaulted in the declaration of offshore assets and payment of due taxes. Defaulting taxpayers who fail to take advantage of VOARS will, at the expiration of the scheme, be subject to investigation and enforcement procedures. With the Automatic Exchange of Information between Nigeria and foreign countries, there will be no hiding place for anyone.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CorrectNG

Tags: ,

You may also like

LEAVE A COMMENT

Calendar

October 2018
M T W T F S S
« Sep    
1234567
891011121314
15161718192021
22232425262728
293031  

Fanpage

Subscribe For Latest News

October 2018
M T W T F S S
« Sep    
1234567
891011121314
15161718192021
22232425262728
293031  

About Us

MISSION STATEMENT
To be a reliable and Trusted source of information for our people.

VISION STATEMENT
To be the most trust worthy source of reliable and first-hand information to the people of Awori land with the view of helping to preserve and protect its core values, tradition, culture, social and political events as it happens across its shores.

Contact Us

Staunch Communications
Block C, Bukola Ojo Street, Alasia,
Ilogbo Road, Ota, Ogun State.
Phone:08032409698, 08103772741
Facebook Page: Voice of Awori
Instagram @VoiceofAwori
E-mail: voiceofawori@gmail.com