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The Last Days Of VAIDS: Why Taxpayers Should Take Advantage Of The Amnesty Programme

  • The tax authority, where a good cause is shown, may remit wholly or partly before or after judgement, penalties due under the Personal Income Tax (“PITA”) – Section 79, PITA;

  • The Governor of a state on the recommendation of the Commissioner of Finance, on the advice of the tax authority, may remit wholly or in part any tax payable under the Act – Section 80, PITA;

  • The Minister (of Finance) has power to make regulations generally on the recommendation of the JTB for giving full effect to the provisions of the Act –  Section 106A (1), PITA (Amendment Act), 2011;

  • The President, through the Minister for Finance, is empowered to give general directions to the FIRS for the carrying out of the latter’s duties under the FIRS Act – Sections 51 and 60 of the FIRS (Establishment) Act.

The VAIDS also derives legality from the Memorandum of Understanding signed between the Federal Government and the respective State Governments.