The Anambra State Government has unveiled the Voluntary Assets, Income Declaration and Tax Regularisation Scheme (VAIDS). This program provides a window for taxpayers to update their financial records while avoiding standard non-compliance penalties.
Active from July 6 until September 5, 2026, the initiative targets individuals and corporate entities with unresolved tax duties. Dr. Law Mefor, the Commissioner for Information and Value Reformation, noted that the goal is to promote honesty regarding previously hidden income and liabilities.
The scope of the program includes those not yet registered, taxpayers with supplemental assets to declare, and entities that have underpaid taxes. Furthermore, it covers taxpayers currently under investigation, those in conflict with the Anambra State Internal Revenue Service (AIRS), and individuals who ignored prior assessments.
Participants who provide complete and truthful information will benefit from total waivers on penalties and accrued interest. Additionally, they gain immunity from legal action regarding these liabilities and a moratorium on tax audits for the covered periods. Flexible payment plans may also be available upon approval from the AIRS.
AIRS Executive Chairman Ikeazor Okonkwo has encouraged all eligible parties to utilize this period. He clarified that the state will initiate strict enforcement actions against those who remain non-compliant once the deadline passes on September 5, 2026.
