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With the Voluntary Asset and Income Declaration Scheme (VAIDS or the Scheme) ending in a few weeks, (31st March, 2018), this article attempts to review the Scheme and in particular, the feasibility of the expected additional tax revenue receipts accruable to the Federal Government of Nigeria (FGN) on account of the Scheme, and to also glean some learnings based on the experience in other jurisdictions with similar tax revenue generating experiments.

More specifically, we will focus on the efficacy of such schemes in generating increased government revenue, and consider the viability of such schemes in the Nigerian environment to broaden the national tax base and maintain tax compliance following the expiration of the Scheme.

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