We’ll prosecute Nigerians evading tax on foreign properties – Malami warns

By Christian Joseph Wariaye   1 week ago   52
Politics - Top Stories

The Attorney General of the Federation, Abubakar Malami, Friday warned Nigerians evading tax on foreign properties to stop, noting that Federal Government would henceforth prosecute anybody found guilty.
Disclosing this in a statement signed by his Spokesman, Umar Gwandu, Malami also warned banks to desist from further shielding Nigerian citizens, noting that any bank or intermediary that helps a Nigerian citizen to shield such properties would pay a fine which is the equivalent of the cost of the property.
Read the statement below:
“For defaulters who may be tempted to continue concealment of their offshore assets, Executive Order 008 as amended stipulates that any domestic or foreign bank, asset manager or intermediary that cooperates with defaulters, enabling them to conceal offshore assets and obligations pertaining to them shall, upon discovery, be liable to pay to the federal government a penalty on the total of such offshore assets, in addition to other penalties provided for under Nigerian laws or laws of foreign countries from which Nigeria can benefit.“Executive Order 008 as amended mandates the AGF to set up and implement a voluntary offshore assets regularisation scheme referred to as ‘VOARS’.
“VOARS gives all relevant persons and their intermediaries who have defaulted in the declaration of their offshore assets the opportunity to voluntarily declare and regularise their offshore assets.
“The federal government hopes that relevant persons amongst Nigerians, Nigerian entities and their intermediaries will seize the opportunity provided by VOARS to declare and regularise their offshore assets before it is too late.
“Relevant persons who voluntarily declare their offshore assets and pay the stipulated levy to the federal government will receive compliance certificates which allow them to use their residual assets freely without hindrance.”

[NewsNaira]



Share this article!



Login to comment and earn


Wow, granted soonest


(Quote) (Likes)
Stanley
1 week ago

Fire them small small


(Quote) (Likes)
Apakhi Elijah
1 week ago

What type of attitude is these? 


(Quote) (Likes)
Ifeoma
1 week ago

Govt should be fast about it 


(Quote) (Likes)

Do that, just leave the poor masses alone


(Quote) (Likes)
Dim Sammy
1 week ago

This is embarrassing oo


(Quote) (Likes)
Promise
1 week ago

Fire them small


(Quote) (Likes)

Pls don't spear anyone


(Quote) (Likes)
Promise
1 week ago

Fire small small


(Quote) (Likes)

What useful thing have you been able to do with the ones paid?


(Quote) (Likes)
Ephraim Idogho
1 week ago

Wow what a grand


(Quote) (Likes)

God help us all. Its a start


(Quote) (Likes)

God help us all. Its a start.


(Quote) (Likes)
Emmy Chico
1 week ago

Malami warns hmmmm


(Quote) (Likes)
Moses Stephen
1 week ago

There should do something about this


(Quote) (Likes)
Kings O Kings
1 week ago

And so what...


(Quote) (Likes)

What is News₦aira Income Program(News₦IP)

  • News₦aira Income Program (News₦IP) is a system aimed at raising revenue for registered users that browse the NewsNaira Website. An online program driven by a goal of solving the financial problems among the youths, students, middle class and whoever wishes to take advantage of earning opportunity and making money online legitimately in Nigeria as it creates the channel for participants to earn residual income on weekly basis.
more

How News₦IP Works

  • News₦aira has 2 means of generating income for our members.
    News₦AP: NewsNaira Affiliate Program - With News₦AP, participants earns ₦1,000 whenever they refer anyone to join NewsNaira Income Program. There is no limit to how many people you can refer.

    News₦ARS: NewsNaira Ad Revenue Sharing - With News₦ARS, participants earns residual income bonus by reading news, commentting on articles, publishing forum posts, daily login to their NewsNaira account, and even sharing assigned sponsored post on social media.

    We share our ads revenue with you weekly when you make NewsNaira community your news and information household.
more