The Federal Inland Revenue Service (FIRS) had last Thursday directed CSOs to register with the agency and obtain Taxpayer Identification Number (TIN) or face the appropriate sanctions under the extant tax laws.
The Director, Tax Policy and Advisory Department of the agency, Mr. Temitayo Orebajo, who gave the directive in Abuja at a webinar on CSOs tax responsibilities and compliance, said the session was aimed at promoting CSOs understanding and knowledge of their tax responsibilities.
Organised by FIRS and the European Union Agents for Citizen-Driven Transformation (EU-ACT), a Non-Governmental Organisation, the session aims to provide an opportunity for CSOs to engage the FIRS on parts of tax regulations that concern them, and the challenges and bottlenecks they face in their bid to stay compliant.
Orebajo had advised the CSOs to maintain accurate record of employees and proper books of accounts for tax purposes, adding that failure to comply would attract appropriate penalties under the extant tax laws.
According to him, NGOs were required under the Pay As You Earn (PAYE) obligation to deduct tax at source from salaries and other emolument of the employees, directors and officers, among others.