TAXATION OF NOT FOR PROFIT MAKING ORGANISATION / NON GOVERNMENTAL ORGANISATION(NGOS)
The primary objectives of NGOS is not profit making.
The following are the obligations of NGOS in Nigeria
-Register and obtain taxpayer identification Number.
-Deduct and remit PAYE and WHT where necessary.
-File tax returns on or before the due dates.
-Pay taxes when engage in business(profit making)
-keep accounting books and records of transactions.
-Pay VAT on goods and services consumed (exempted only for those used for humanitarian activity)
-Charging and remitting of Vat when engage in business(profit making.
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