A Re-Definition Of The Term "Public Character" And Its Impac

A Re-Definition Of The Term "Public Character" And Its Impact On The Taxability Of Non-Governmental Organisations In Nigeria – AfricaBusiness.com


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 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 “public character” to NGOs when evaluating their eligibility to enjoy the tax exemptions granted under the Companies Income Tax Act (CITA). It is noteworthy that the FIRS’ clarification on the application of the term public character is issued following an inclusion of a definition for “public character” in the CITA by Finance Act, 2020.

Related Keywords

Nigeria , Nigerians , Ibrahim Moshood , Tozaye Balogun , Ogranisations Ngos , Tax Services , Revenue Service , Centurion Law Group , Companies Income Tax Act , Centurion Law , Federal Inland Revenue Service , Revised Information Circular , Tax Treatment , Non Governmental Ogranisations , Revised Information , Finance Act , Allied Matters Act , Tax Statute , நைஜீரியா , நைஜீரியர்கள் , வரி சேவைகள் , வருவாய் சேவை , சிஇஎன்டியுவ்ஆர்ஐஓஎன் சட்டம் குழு , நிறுவனங்கள் வருமானம் வரி நாடகம் , சிஇஎன்டியுவ்ஆர்ஐஓஎன் சட்டம் , கூட்டாட்சியின் உள்நாட்டு வருவாய் சேவை , வரி சிகிச்சை , நிதி நாடகம் , கூட்டணி விஷயங்கள் நாடகம் ,

© 2025 Vimarsana