Prof. Sheriffdeen Tella, a Senior Economist at the Olabisi Onabanjo University Ago-Iwoye, Ogun says that the Federal Government’s Executive Order on tax will improve the nation’s tax record.
Tella told the News Agency of Nigeria (NAN) in an interview on Friday in Lagos that the new tax regime would allow the country to have an estimate of tax accruing to the economy.
NAN reports that the Acting President, Prof. Yemi Osinbanjo had on Thursday inaugurated the Voluntary Assets Income Declaration Scheme (VAIDS) and Tax amnesty programme in Abuja.
Osinbajo said inauguration of VAIDS comes with an Executive Order that would last from July 1, 2017 to March 31, 2018.
He added that VAIDS was geared toward driving Nigeria’s taxation process.
According to Tella, the VAIDS is a good idea that will give Nigerians some leeway to make their payments.
The expert called for effective implementation of the budget to get the economy out of recession. (NAN)