AGF, Finance Minister, Others Attend Unveiling Of VOARS

AGF, Finance Minister, Others Attend Unveiling Of VOARS
Mr Abubakar Malami and Mrs Zainab Ahmed at the unveiling of the Voluntary Offshore Assets Regularisation Scheme (VOARS) in Abuja on April 2, 2019. Photo: Channels TV/ Sodiq Adelakun.

 

The Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, as well as the Minister of Finance, Mrs Zainab Ahmed, on Tuesday attended the unveiling of the Voluntary Offshore Assets Regularisation Scheme (VOARS).

The event, which held in Abuja, was part of efforts to by the Federal Government to increase the nation’s tax base.

READ ALSONigerian Govt Launches Voluntary Offshore Assets Regularisation Scheme

It was also attended by the Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, among others.

The VOARS is aimed at encouraging foreign investments to develop infrastructure in Nigeria.

See the photos below:

Mr Abubakar Malami

FIRS Chairman, Mr Babatunde Fowler

Mrs Zainab Ahmed

Nigerian Govt Launches Voluntary Offshore Assets Regularisation Scheme

 

The Nigerian Government has unveiled the Voluntary Offshore Assets Regularisation Scheme (VOARS), as part of efforts to increase the nation’s tax base.

Addressing an audience at the unveiling ceremony on Tuesday in Abuja, the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, said the scheme was aimed at encouraging foreign investments to develop infrastructure in Nigeria.

He explained that the VOARS was an idea initiated by the Swiss Consortium with a view to facilitating regularisation of offshore assets owned by Nigerians.

READ ALSO: AGF, Finance Minister, Others Attend Unveiling Of VOARS

The AGF, therefore, appealed to Nigerians to key into the initiative of the government.

He gave assurance that when funds were voluntarily declared by the owners, the Federal Government would grant a permanent waiver of criminal prosecution for tax offences and offences related to offshore assets.

According to him, this includes immunity from tax audit of the declared and regularised offshore assets.

The unveiling ceremony held at the Transcorp Hilton in the Federal Capital Territory (FCT).

Also in attendance were the Minister of Finance, Mrs Zainab Ahmed, and the Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, among others.

See photos below: