TAXATION AND NOT-FOR-PROFIT ORGANISATIONS (NFPOs)

Not-for-Profit Organisations (NFPOs) are the third sector of the economy in Nigeria and it is mostly neglected compared to the public and private sectors that have received a lot of recognition amongst people. The main aim of the social sector is to achieve social development that is, providing basic needs to the people. Not-for-Profit describes a type of organization that does not earn distributable profits for its promoters, the trustees. All of the money earned by or donated to a not-for-profit organization is used in pursuing the organization's objectives.   There has been some general…

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