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President Buhari steps on Money Laundry and Tax Evasion with VOARS

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The President of Nigeria, Muhammadu Buhari, has on Wednesday, 10th October stepped on Money Laundry and Tax Evasion with VOARS.

With an Executive Order number Eight, through the Voluntary Offshore Assets Regularization Scheme (VOARS), Nigerian taxpayers who hold offshore assets and incomes are expected to, within a period of 12 months, declare voluntary those assets and pay taxes on them.

When they do this, they should expect certain specified benefits. But those who default, but those who default  at the expiration of the scheme, will be subject to investigation and enforcement procedures.

"With the Automatic Exchange of Information between Nigeria and foreign countries, there will be no hiding place for anyone," says President Buhari. 

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