The Federal Government says it is now in possession of names of 500 Nigerians implicated in tax fraud.
This was made known in a statement released on Thursday by the Senior Special Assistant on Media and Publicity to Vice President Yemi Osinbajo, Laolu Akande following the meeting of the National Economic Council (NEC).
“Ad-Hoc Committee of the National Economic Council reported back to the Council that a number of revenue-generating agencies may have significantly under remitted returns to the Federation Account.
“The Council had previously ordered the forensic audit to review remittances of the agencies covering 2010 to May 2015. While Council received an updated interim report today, a final report is awaited next month.
“The Finance Minister, Kemi Adeosun, also informed the Council that a list of about 500 Nigerians with property and trusts abroad has been obtained to determine their tax compliance status at home.
“She explained that such Nigerians can take advantage of the Voluntary Assets and Income Declaration Scheme, VAIDS, to settle past taxation defaults.
“Letters would soon be going out to these Nigerians, including a number of prominent ones, asking them to take advantage of the tax amnesty in order to avoid prosecution and fines by simply paying up their tax defaults,” part of the statement read.