VAIDS: FG to begin seizure of properties of wealthy tax evaders

460, properties of wealthy tax evaders seizure

The federal government on Thursday said it will soon embark on a massive seizure of properties belonging to wealthy persons who fail to pay tax on income from them(properties).

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The government had sometime in August gave tax evading wealthy Nigerians and corporate bodies 90 days to declare their taxable income and pay appropriate taxes, or face the full wrath of the law.

The action, which is imminent was disclosed by the Chairman of the FIRS, Mr. Tunde Fowler at a media training on the Voluntary Assets and Income Declaration Scheme (VAIDS) in Abuja.

Fowler while decrying the general apathy of Nigerian elite towards tax payment. said plan was in the pipeline to force property owners in Abuja to pay taxes from income earned from such properties or lose them.

He said, “If an organisation is making money off you and I; they are selling their properties to us, they are making profits or if individuals: are providing services and making money off you and I: don’t you think they should pay tax?

“We, as a revenue board still have a job to do. The opportunity to come under VAIDS is there. Since VAIDS was launched, we have seen over 2000 properties in Abuja that have ownership of corporate organizations that have not filed any tax, have not paid any tax.

“And that is why we gave them notice that we will shortly be going to court, we will be seizing those properties and selling those properties to make up for the outstanding tax and if there is any change, we will refund the change to them.”

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