𝗧𝗔𝗫𝗘𝗦 𝗜𝗻 𝗧𝗵𝗲 𝗧𝗵𝗶𝗿𝗱 𝗦𝗲𝗰𝘁𝗼𝗿! Some of our Frequently Asked Questions 👉 Do NGOs pay Tax? And What taxes do NGOs pay. Ans: Yes, NGOs do pay Tax. The first is PAYE, as known as - Pay As You Earn while the second is - Withholding Tax. 1. Pay As You Earn. It is deducted from Staff's salary. If you have a Nonprofit organization and your employees are paid 30 thousand naira and above, you are required to remit the PAYE on the staff to the Government. 2. Withholding Tax. This tax pertains to consultancy services provided by individuals or organizations. For consultancy offered by individuals, a deduction of 5% from the agreed fee is mandatory, while organization consultancy services must deduct 10% of the agreed fee and must be remited to the government. Meanwhile, there is a penalty defaulting in tax remittance. The penalty is distinctly the prerogative of Tax authority. Be reminded that If your organization is yet to file in, it’s important to prepare and submit them before the 31st of this month to avoid penalties. It is therefore important that NGOs comply with Tax's regulations for the purpose of transparency and accountability. #calltoaction #importanceoftaxpayment #understandingtaxtypes #taxauditandinvestigation #fileyourtaxes #transparencyandaccountability #sustainabledebelopmentgoals #globalgoals