Regulatory Alerts

VOARS, the Voluntary Offshore Asset Regularization Scheme

VOARS, the Voluntary Offshore Asset Regularization Scheme, introduced by Executive Order 008 under the hand of Mr. President, is aimed at combating tax evasion and regularization of offshore assets (defined to include income and bank balances) owned by persons resident in Nigeria for tax purposes. Under this Scheme, Nigerian taxpayers who own offshore assets and are in default of their tax obligations are required to voluntarily declare these assets and pay the appropriate taxes due within 12 months, effective 8th October, 2018.

Read More: https://bit.ly/2DycVW2

 

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend