The Financial Reporting Council of Nigeria on Thursday said that non-charitable institutions owned by religious bodies would need to pay taxes because they were commercial ventures.

The Chief Executive Officer, FRC, Mr. Jim Obazee, said this while speaking on the theme, ‘Corporate governance: Essential ingredient for national development,’ at the 19th annual public lecture of the Chartered Institute of Personnel Management in Lagos.

Obazee explained that because the religious institutions were dealing with public funds, it had become necessary for them to prepare financial accounts.

“If you (a religious institution) want to set up a school, the school should be free for all your members’ children. If you charge any money, you will make those who have schools outside not to pay taxes to the government because you are engaging in non-charitable activity within charity,” he said.

He noted that the religious bodies that were finding it hard to comply with the preparation of their accounts in Nigeria had no problems doing it abroad.

While speaking on the importance of corporate governance, Obazee said, “The governance framework adopted by an organisation is influenced by factors such as regulation, market norms and expectation.”

He explained that where public funds were involved, it was advantageous to demand the adoption of certain governance practices.

The FRC boss added, “If you are keeping people’s money, then you have to prepare accounts. That is why churches fought me badly; they took me as a person and my office to court. But the last day that the court called, neither their lawyers nor the churches attended.”


http://punchng.com/religious-bodies-ventures-must-pay-taxes-frc/

Churches should pay tax cus they are simply business ventures. . This country is just messed up big time

Thank You Lucifer.

Nigeria's tax law does not exempt churches that engages in commercial activities from paying taxes. What we need is to fully implement the existing laws.

Hmmm

Yes o! Supported.

macof:
Churches should pay tax cus they are simply business ventures. . This country is just messed up big time

How can you tax God's money?
May God punish you there.
How will my pastor wear fine suit? How will my pastor fly private jet? God wants my pastor to look good, the fullness of the earth belongs to the righteous. If I want to look good, I must bless the man upon whom he has bestowed his countenance.

You might call me a zombie, but is it your money? Did God give it to you? Don't go and find job. Be there calculating another man's money....





Thank You Lucifer, for giving me brains that I may use them.

Some so called chruches of nowadays are business center, ......and their so called pastor's are using it as an advantage to gain money for themselves, so they must pay their tax
weather they like it or not...

sonOfLucifer:

How can you tax God's money?
May God punish you there.
How will my pastor wear fine suit? How will my pastor fly private jet? God wants my pastor to look good, the fullness of the earth belongs to the righteous. If I want to look good, I must bless the man upon whom he has bestowed his countenance.

You might call me a zombie, but is it your money? Did God give it to you? Don't go and find job. Be there calculating another man's money....





Thank You Lucifer, for giving me brains that I may use them.

typically pastor's puppet response

.....because the religious institutions were dealing with public funds, it had become necessary for them to prepare financial accounts... It seems there is SENSE in non-SENSE! Public fund is a fund in Trust!

I'm 100% in support.

Weldone Mr Jim Obazee