International records / OpenAlex research

EFFECT OF VOLUNTARY ASSETS AND INCOME DECLARATION SCHEME (VAIDS) ON TAX COMPLIANCE IN NIGERIA

Voluntary disclosure programme is an integral part of a compliance strategy which offer an opportunity to tax administration to permit previously non-compliant taxpayers to rectify their tax returns under the laid down procedure. This probably explained the rationale behind the recently Voluntary Asset and Income Declaration Scheme (VAIDS). VAIDS is a form of tax amnesty; it is a scheme that is expected to bring lots of benefits to Nigeria. Taxation serves as a stimulus to rejuvenating the economy of any nation but the Nigerian case is different because the income generated from taxes has been…