2021 & 2022 N-Power Final List Training Guide for N-Power VAIDS – This is the latest news on
N-Power tax 2022 for N-Power tax (VAIDS) final list candidates. N-power tax training guide, training coverage and posting exercise.
These centre on Company income tax calculations, Personal income tax calculations, adjusting incomes with the relevant tax relieves, allowances and benefits in kind. Others, are the application of Tertiary Education tax rules, and Withholding tax adjustments.
2021 & 2022 N-Power Final List Training Guide for N-Power VAIDS
Table of Contents
Qualified Candidates are those who have one of the following qualifications:
Bachelors degree , HND or OND in Economics, Accounting, Business administration, Banking and Finance, and other social sciences that relate to tax management.
N-Power VAIDS Volunteers:
Consequently, a minimum of 4,000 (four thousand) N-Power VAIDS volunteers are selected to assist in attaining the objectives of VAIDS, working with the Federal Ministry of Finance and the Joint Tax Board.
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What is VAIDS all about?
VAIDS: The Nigerian Voluntary Asset and Income Declaration Scheme (VAIDS) is a time-limited opportunity for taxpayers to regularize their tax status relating to previous tax periods and pay any taxes due. In exchange for fully and honestly declaring previously undisclosed assets and income, tax payers will benefit from forgiveness of overdue interest and penalties, and the assurance they do not face criminal prosecution for tax offences or tax investigations.
What will N-power Tax/VAIDS Volunteers be doing?
The N-Power VAIDS volunteers will function as community tax liaison officers
Key responsibilities:
- Tax promotion,
- Tax document review,
- Tax record keeping,
- Tax questions answering online
- Respond to inquiries,
- Customer management,
- Report writing,
- Any other associated duties.
What is N-Power?
N-Power is a job creation and empowerment programme. It is a National Social Investment Programme of the Federal Government of Nigeria. The programme is for young Nigerians between the ages of 18 and 35 – male and female covering the 774 local governments in the country.
As a matter of fact, in the inception of this programme in 2022, the Federal Government engaged and deployed 200,000 young Nigerians in public primary schools, primary healthcare centres and in agriculture development project centres in all the 774 Local Government Areas in Nigeria.
This is reported to be the largest post-tertiary engagement of human resources in Africa ever. In 2022, the N-Power Volunteer Corps is enlisting 300,000 more volunteers to bring the number to the promised 500,000 N-Power Volunteers.
2021 & 2022 N-Power Final List Training Guide for N-Power VAIDS
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N-power Tax/VAIDS Volunteers Training Guide:
2021 & 2022 N-Power Final List Training Guide for N-Power VAIDS. The training guides are going to be centred on tax matters that will enable participants do the following:
- Tax promotion – this will involve publicities, visits, community town hall meetings etc.
- Tax document review – training that will enable participants understand what documents they should get and how to review them
- Tax record keeping – this is going to be administrative
- Tax questions answering online – candidates involved in this duty must have full knowledge of tax matters.
- Responds to inquiries – a good knowledge of tax calculation, filing and documentation is needed here.
- Customer management – With the knowledge of tax matters, this is going to be like usual administrative function.
- Report writing – Writing reports on tax matters is a crucial one. Candidates must be bright enough to do this.
What the Training Guide Covers:
The training guide covers the following areas:
- General overview of tax administration in Nigeria
- The Principles, aims and objectives of VAIDS
- VAIDS tax filing procedures.
- Issues behind multiple taxation in Nigeria
- Basis of tax assessment on commencement rule, change of accounting dates, and business cessation
- Issues on capital allowance
- Application of Education tax
- Stamp duty administration in Nigeria
- Adjustments for With-Holding Tax
- Tax matters relating to special foreign companies operating in Nigeria, like foreign airliners
- Principles of double taxation
- Organs of tax administration in Nigeria
- Determing the question of residency
- Company income tax calculations,
- Personal income calculations,
- PAYE – consolidated income tax system
- Adjusting incomes with the relevant tax relieves,
- Loss relief
- Tax allowances and benefits in kind.
2021 & 2022 N-Power Final List Training Guide for N-Power VAIDS is very ellaborate.Participants are expected to master these areas of tax administration in Nigeria to be able to function well in their various assignments.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
