Archive NGOs not exempted from paying tax - FIRS

NGOs not exempted from paying tax – FIRS


- Advertisment -

by Olusegun Akinleye @mypenspeaks

The Director, Medium Tax Department of the Federal Inland Revenue Service, FIRS, Ademola Olayemi, while speaking at the 14th Annual Conference of Nigeria Network of NGOs (NNNGO) has made it known that NGOs in the country are not exempted from paying tax.

He said “It is an erroneous assumption to believe that NGOs are exempted from paying tax. No, not at all. NGOs are not exempted from paying tax. Once you are registered as an NGO, do not venture into other areas. Once you do, you will required to pay your tax”

“If you are an NGO and you venture into business, it is required by law for you to pay your tax as profit made from that business has to be taxed. If you give out work to consultants, you should not withhold your tax”.

Ademola tasked the NGOs to make sure they are also registered with the FIRS too once they are done registering with the Corporate Affairs Commission, CAC and the Ministry of National Planning as it will enable them (NGOs) file their annual returns.


Please enter your comment!
Please enter your name here

Latest news

Our Security Template Focuses On Communal Collaboration, Honesty, Synergy – Gov. Bello

….says he doesn’t visit Abuja for solution to security challenges Kogi State Governor, Yahaya Bello has revealed that the successes...

2021 World Education Day: ActionAid Nigeria Calls For Increase Allocation To Education From 15% – 20%

As the World marks the 2021 International Education Day, a Non-Governmental Organization, (NGO), ActionAid Nigeria, has called for an...

COVID-19: Bill Gates backs Yahaya Bello’s position on need to invest in healthcare

Mayowa Adeniran|  The recent position of one of the world's richest, Bill Gates, has corroborated the agitations of Kogi State...

JONAPWD-LAGOS Commends Sanwo-Olu For Restoring Disability Empowerment Fund

Kenneth Afor |  The Joint National Association of Persons Living With Dissabilities (JONAPWD ) in Lagos state has commanded Babajide...

Groups Call On Judicial Panels Of Inquiry To Dispense Justice On Victims, Survivors Of Police Brutality

Kenneth Afor | The Network on Police Reform in Nigeria (NOPRIN) and Centre for Law Enforcement Education (CLEEN Foundation) has...

COVID-19 Second Wave: FG Urged To Ban Flights From Britain, Others

By Ijeoma Ukazu | With some countries currently experiencing the spread of the new COVID-19 variant, the Health Writers’ Association...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: