Friday, 30 June 2017

The Puppi won't Hush so it's time to VAIDS

Acting President Yemi Osinbajo on Thursday 29th of July, signed an Executive Order that will reinforce the Voluntary Asset and Income Declaration Scheme (VAIDS).

VAIDS is the federal government plan to increase tax awareness and compliance, and grant taxpayers a time-limited opportunity to regularise their tax status without penalty. It on all Nigerian companies and citizens to pay their taxes, wherever their income is earned, wherever they reside, and no matter how rich they are.

The Acting President pointed out that only 214 of taxpayers, irrespective of status, pay N20 million or more annually and these individuals all resides in Lagos while about 900 taxpayers pay N10 million per annum and lives outside Lagos.

The acting president said a situation where people evade tax would no longer be tolerated, hence the initiative, VAIDS, adding that a tax amnesty will run for nine months, effective July 1, 2017 to March 31, 2018, to give room for tax defaulters to voluntarily declare their assets and pay commensurate taxes.
This news won’t have come any better than now when the ongoing spat between the nigerian entertainers Kcee, Phyno, Ice Prince and socialite Hushpuppi are slugging it out online.

HushPuppi who is yet to disclose is medium of income called out the Fada fada crooner that and Oleku pioner that they are wearing fake jewelleries and Kcee had to join the fray attacking Hushpuppi for spiting entertainers who has traceable income unlike him. Kcee taking this further with the EFCC.

The Nigerian entertainment industry holds a very strong influence over the youths and lately the flaunt of untraceable wealth by music and inciting lyrics is on an all time high. Just recently Dammy Krane was arrested for fraud and Falz reacted to entertainers whose music he thinks are encouraging cyber crime.

If the Puppi won’t Hush, I think it’s time he become the first VAIDS how he makes his income as he has been known to live extravagantly. This extravagancy he has expressed in his countless Gucci clothes and fashion accessories and spending millions of naira at night clubs.  

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