Administering “Sugar Tax” in Nigeria: Things You Need to Know

Following the introduction of the Excise Duty (“Sugar Tax”) on non-alcoholic, carbonated, and sweetened beverages by the Finance Act of 2021 at the rate of N10 per liter, the Federal Government of Nigeria, commenced the implementation of Sugar Tax on the 1st of June 2022. Today’s Tax Thursday article covers some facts about the administration of the Sugar Tax that you should know.

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TAXATION OF NOT-FOR-PROFIT ORGANIZATIONS- GUIDELINE & CLARIFICATION

A not-for-profit organization is an entity incorporated as a company limited by guarantee under PART A of the Companies and Allied Matters Act (CAMA) 2004 or registered under PART C of the Act, or under any other law in force in Nigeria, or registered under the laws of a foreign jurisdiction and approved as such in Nigeria.

As their name suggests, not-for-profit organizations (NPOs) are established to provide public goods and services or research in areas of altruistic value to society. They are not to carry on business to make profits for distribution to their members.

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