By Vincent Ujumadu
The Anambra State Government has launched the Voluntary Assets, Income Declaration and Tax Regularisation Scheme (VAIDS), offering taxpayers a limited opportunity to regularise their tax records without incurring the full penalties associated with non-compliance.
The scheme, which runs from July 6 to September 5, 2026, is open to individuals, businesses and other organisations with outstanding tax obligations.
The Commissioner for Information and Value Reformation, Dr. Law Mefor, said the initiative is aimed at encouraging voluntary tax compliance by allowing eligible taxpayers to declare previously undisclosed income, assets and tax liabilities.
According to him, the scheme covers unregistered taxpayers, registered taxpayers with additional income, assets or liabilities to declare, those who have underreported taxable income or assets, and individuals or organisations that have underpaid or under-remitted taxes and levies.
It also applies to taxpayers currently undergoing tax audits or investigations, those involved in disputes with the Anambra State Internal Revenue Service (AIRS), and recipients of Best of Judgment (BOJ) assessments who failed to respond within the stipulated period.
Mefor said eligible participants who make full and honest disclosures will receive a 100 per cent waiver of penalties, 100 per cent waiver of accrued interest, immunity from prosecution for disclosed tax liabilities, protection from tax audits for the declared periods, and access to flexible payment arrangements subject to AIRS approval.
The Executive Chairman of AIRS, Ikeazor Okonkwo, urged individuals with undeclared income or assets, business owners, companies, partnerships, sole proprietors, taxpayers with outstanding liabilities and unregistered taxpayers to take advantage of the scheme.
He warned that the revenue service would begin full enforcement against defaulting taxpayers after the scheme expires on September 5, 2026.
