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Thursday, 11 October 2018

Buhari signs Executive Order 8 against money laundering, tax evasion

The Presidency has disclosed that President Muhammadu Buhari has signed new Executive Order (008) which has already taken effect from October 8, 2018, aimed at stepping up the regulations on money laundering and tax evasion.
The new Executive Order number eight is tagged Voluntary Offshore Assets Regularization Scheme (VOARS).
The Senior Special Assistant on Media and Publicity, Garba Shehu in a statement explained that by this order, 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 to derive certain specified benefits.” CONTINUE READING

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