Discover the key to navigating the complex world of Taxation of Non-Profit Organizations in Nigeria!
Whether you’re running a charity, religious group, or NGO, understanding tax rules is crucial for compliance and sustainability.
In this video, we break down the essential tax laws governing non-profits, highlighting exemptions, obligations, and the risks of non-compliance.
You’ll learn about:
- Tax-Exempt Income: What qualifies and how to ensure your charitable income remains untaxed.
- Value Added Tax (VAT): When donations are exempt and when your activities may attract VAT.
- Withholding Tax (WHT): Obligations on payments made to contractors or service providers.
- Commercial Ventures: The tax implications of unrelated business activities like leasing property or offering paid services.
- Filing Obligations: Why filing annual returns is mandatory for non-profits, even if they’re exempt from tax.
- Tax Incentives for Donations: How approved charities can attract corporate donors with tax-deductible benefits.
Through relatable case studies, we provide practical insights to help your organization stay compliant while maximizing impact.
For example, we’ll explore what happens when a church operates a logistics company or an NGO leases office space to generate income. These real-life scenarios will guide you in separating charitable objectives from taxable activities.
Don’t let unclear tax rules hinder your non-profit’s mission. Stay informed, avoid penalties, and foster transparency with the Federal Inland Revenue Service (FIRS).
📌 Watch now to empower your organization with knowledge and take a step closer to seamless compliance.
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Speaker:
Olatunji is the founder Taxmobile.Online and Managing Partner/CEO of AOA Professional Services. Before this, Olatunji worked as Director- Tax and regulatory Services at Nolands Nigeria Professional Services, Senior Manager – Tax, Regulatory and advisory Services at Saffron Professional Services, Tax and Fiscal Reporting Accountant of Schlumberger Nigeria Limited, and as an Audit Trainee in Ernst & Young.
His experience covers the full range of services in internal audit and control, transfer pricing, arbitration, tax advisory and regulatory services, audit support, forensics investigation, and due diligence.
Disclaimer: The information contained herein is general and is not intended, and should not be taken, as a legal, accounting or tax advice provided. This information remains strictly the opinion of Olatunji Abdulrazaq.
