FG plans 5-year jail term for celebrities who evade taxes
FG plans 5-year jail term for celebrities who evade taxes The FG has fine-tuned plans to punish and possibly jail entertainers who evade taxes after the nine-month grace period set out by the recently launched voluntary asset and income declaration scheme (VAIDS). TheCable reports that for 15 months, the FG via various agencies and departments, to include the private sector, has been gathering information on tax compliance of many celebrities and high net worth individuals in the country. “Highly qualified” agents of the federal ministry of finance have worked with the banks, Nigeria Financial Intelligent Unit (NFIU), bureau de change (BDCs), Corporate Affairs Commission (CAC), to monitor the degree of tax compliance of many celebrities and high net worth individuals. The government has also reviewed land ownership, ownership of exotic cars, yatchs, private jets and other luxurious properties to understand the earnings and assets of many of these persons, ...