It was learnt that soon, the two agencies would swoop on tax defaulters across the country, especially traders.
This followed the expiration of the June 30, 2018 deadline given by the Federal Ministry of Finance under the Voluntary Assets and Income Declaration Scheme (VAIDS) for tax payers to file their tax returns or risk criminal prosecution.
VAIDS is a time limited opportunity for tax payers to regularise their tax status relating to previous tax periods, and pay any taxes due.
The AUTHORITY gathered that the government has not shelved its plan to prosecute those who refused to take advantage of the tax amnesty period to file their tax returns, and subsequently pay any taxes due.
Accordingly, the government is said to have resolved to unleash the FIRS and the EFCC on tax defaulters nationwide, especially traders, who are reportedly resisting tax payment on the ground that the federal, state and local governments have refused to improve the facilities in their various markets and plazas for their businesses to thrive.
A top official in the finance ministry hinted that the government sees the posture of the traders on the tax matter as that of economic sabotage, and therefore, would prosecute them in court.
He said: “Government believes that those who failed to file their tax returns before the June 30, 2018 deadline are not prepared to honour their tax obligations to the country and should be prepared to suffer the consequences of their action.”
In a recent chat with journalists, the Minister of Finance, Mrs. Kemi Adeosun, had insisted that those who ignored VAIDS risked “criminal prosecution as from July 1, 2018.”
She had warned that tax evaders would be severely punished at the end of the amnesty period.
Adeosun explained that they would “face imprisonment of up to five years, as well as pay severe extra penalties – up to 100% of the outstanding tax due, compound interest at 21% per annum, as well as forfeiture of assets.”
The Executive Chairman of FIRS, Mr. Tunde Fowler, while on a courtesy visit to the Acting Chairman of EFCC, Mr. Ibrahim Magu, revealed the existence of an FIRS-EFCC partnership that has started yielding results in the generation of revenue for government.
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