Non Governmental Organisations, NGO's have been reminded that they are not totally exempted from paying taxes. According to the acting Executive Chairman of Federal Inland Revenue Service (FIRS), Kabiru Marshi yesterday at a sensitisation seminar in Abuja, it is wrong to assume that NGO's are exempted from paying income taxes because they are 'Not For Profit' entities.
He said where an NGO engages in in activities from which it derives profit, they are required to pay taxes on such profits.They are also not exempt from paying taxes such as Value Added Tax (VAT) on goods and services and are required to deduct and pay personal income tax from salaries and allowances paid to their employees.
Kabiru Marshi says going forward, a more detailed presentation would be made on the tax obligations of NGOs to enhance greater clarity on the part of tax payers, tax officers, tax professionals and NGO operators.
Kabiru Marshi says going forward, a more detailed presentation would be made on the tax obligations of NGOs to enhance greater clarity on the part of tax payers, tax officers, tax professionals and NGO operators.
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