FIRS Increased Tax Revenue By N700bn in 2017

According to the FIRS, it recorded four million new taxpayers, raising its revenue in 2017 to 700 billion naira. The government hopes to finance some of its capital projects in the 2018 budget from non-oil revenue. It has also launched the Voluntary Assets and Income Declaration Scheme (VAIDS), which provides a window for multinationals and high net-worth individuals to regularize their tax payments. VAIDS which was launched last year will come to an end later this month.