Private schools not exempted from Taxes Fowler

 

This is to inform the general public and owners of private schools that they are not exempt from the payment of relevant taxes so long as the concerned schools are not owned by or run for the benefit of government.

This clarification has become necessary in view of the recent judgement of the Court of Appeal in the case of Best Children International School Limited, where the court held that all private schools that share their profit to their owners are liable to pay Company Income Tax and that such schools are not exempt under section 23(2) (c)of the Companies Income Tax Act.

By this notice , all private school owners are required to proceed to the nearest tax office to register for tax , obtain Tax Identification Number, file Tax Returns and pay the tax accordingly .

The FIRS is determined not to leave any stone unturned in our quest to ensure that appropriate revenue due to government is paid or recovered and will therefore enforce against any Private School that fails to use this window of opportunity to regularise it’s tax compliance status .

Let’s take Nigeria to the next level and build our nation.

Signed
Tunde Fowler
Executive Chairman
Federal Inland Revenue Service.