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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’ cla

Ibrahim moshoodTozaye balogunOgranisations ngosTax servicesRevenue serviceCenturion law groupCompanies income tax actCenturion lawFederal inland revenue serviceRevised information circularTax treatmentNon governmental ogranisationsRevised informationFinance actAllied matters actTax statute