The Anambra State Government has approved a three-month tax waiver for business owners under its newly introduced Voluntary Assets and Income Declaration and Tax Regularisation Scheme (VAIDS), from 6 July to 5 September.
The Commissioner for Information and Value Reformation, Law Mefor, disclosed this in a statement on Thursday in Awka.
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Mr Mefor said the scheme offers a one-time opportunity for taxpayers to resolve their tax issues without incurring full penalties for non-compliance.
He said the decision was reached by the state tax authority, led by the Chairman of the Anambra State Internal Revenue Service (AIRS), Ikeazor Okonkwo.
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He urged businesses and other organisations that have not paid taxes or fees, and those who have not registered as taxable persons, to take advantage of the three-month window to register and pay their taxes.
Mr Mefor also urged other registered taxpayers with additional income, assets or liabilities to disclose them.
He said those who failed to fully declare taxable income and assets, or who underpaid or under-remitted taxes or levies, would face the full weight of the law.
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He added that those currently under tax audit, investigation, or involved in a tax dispute with the AIRS, and who had been issued Best of Judgement (BOJ) assessments but failed to respond within the statutory time limit, would not be exempted from prosecution.
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The commissioner said eligible taxpayers who make full and honest disclosure would enjoy a 100 per cent waiver of penalties and accrued interest, as well as immunity from prosecution.
He urged those with undeclared income or assets, and taxpayers, business owners, and companies that had defaulted in the declaration of assets and tax payments, to regularise with the tax offices or visit the VAIDS portal.
Mr Mefor warned that the AIRS would commence full enforcement against defaulting taxpayers at the expiration of the tax waiver by 5 September.
(NAN)
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