By Ibrahim Moshood, Associate and Tozaye Balogun, Director of Tax Services, Centurion Law Group The Federal Inland Revenue Service (“FIRS”) recently issued a Revised Information Circular on the Tax Treatment of Non-Governmental Ogranisations (NGOs), hereafter referred to the as “Revised Information Circular” or “the Circular”. The Circular, published on 31 March 2021, amends, updates or … [Read more…]
By Ibrahim Moshood, Associate & Tozaye Balogun, Director of Tax Services in Africa
The Federal Inland Revenue Service (“FIRS”) recently issued a Revised Information Circular on the Tax Treatment of Non-Governmental Ogranisations (NGOs), hereafter referred to the as “
Revised Information Circular” or “
the Circular”. The Circular, published on 31 March 2021, amends, updates or replaces the FIRS’ initial information circular (issued in 2010) on the tax exemption status of NGOs – but only to the extent that the initial circular contains information that is inconsistent with the Revised Information Circular.
The Revised Information Circular reiterates the tax-exemptions, filing and other compliances obligations of NGOs. It also provides clarification on the application of the term “
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By Centurion Tax and Investment Desk
With the enforcement of the new law (No. 2018 - 10 of March 30, 2018) enacted in March 2018 which amended certain provisions of the General Tax Code (CGI), the Senegalese legislator has strengthened and finalized the fiscal measures on transfer pricing. Reforms in transfer pricing were introduced in 2012 in line with the global fight against tax base erosion and profit shifting (BEPS).
Senegal is a member of the inclusive framework of the Organization for Economic Cooperation and Development (OECD) on BEPS, which currently includes 100 countries. Senegal has ensured through the adoption of minimum standards, that its tax bases will no longer be reduced by means of artificial profit transfers.
By NJ Ayuk, Chairman of the African Energy Chamber (www.EnergyChamber.org)
If someone were to put me on the spot and ask me to name an environmentalist group, I’d probably blurt out the first thing that comes to mind, Greenpeace. There are obvious reasons for this: Greenpeace has been around for more than 50 years, and it has done a masterful job of bringing environmental concerns to the world’s attention and keeping them there. The group has a strong track record when it comes to advocacy and awareness, and it has a global reach. It’s truly one of the most visible non-governmental organizations (NGOs) in the world.