The Acting President, Prof. Yemi Osinbajo on Thursday signed an Executive Order to back the Voluntary Asset and Income Declaration Scheme.
Osinbajo signed the Executive Order during the formal launch of the VAIDS scheme at the Presidential villa, Abuja.
Speaking during the signing, the Acting President said the new initiative is targeted at increasing tax awareness and compliance, as well as grant tax payers a time-limited opportunity to regularise their tax status without penalty.
Osinbajo noted that the scheme which will be jointly executed by the Federal and State Governments would concentrate on the obligations of all Nigerian companies and citizens to pay their taxes, wherever their income is earned.
The signing of the Executive Order was witnessed by the Minister of Finance, Mrs Kemi Adeosun, Governors of Ogun, Kaduna, and Zamfara among others.
