We’ll prosecute Nigerians evading tax on foreign properties- Malami . . Abubaka…


We’ll prosecute Nigerians evading tax on foreign properties- Malami .
.

Abubakar Malami, attorney-general of the federation (AGF), says the federal government will prosecute Nigerians refusing to pay tax on their properties in foreign countries.
Malami, in a statement on Thursday night, said any bank or intermediary that is found to have helped any citizen conceal foreign properties will pay a fine equivalent to the cost of the property. .
. “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,” he said. .
.

The AGF asked defaulters to take advantage of the voluntary offshore assets regularisation scheme (VOARS) to declare and regularise their assets.
“Executive Order 008 as amended mandates the AGF to set up and implement a voluntary offshore assets regularisation scheme referred to as ‘VOARS,” he said



We expressly give credit to the Original Source

(Visited 1 times, 1 visits today)

About The Author

You might be interested in

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *