{"id":40094,"date":"2022-08-22T04:04:12","date_gmt":"2022-08-22T04:04:12","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=40094"},"modified":"2022-08-22T04:07:20","modified_gmt":"2022-08-22T04:07:20","slug":"firs-certifies-donations-to-dashme-foundation-as-tax-deductible-official","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/08\/22\/firs-certifies-donations-to-dashme-foundation-as-tax-deductible-official\/","title":{"rendered":"FIRS certifies donations to DashMe Foundation as tax deductible \u2013 official"},"content":{"rendered":"<p>DashMe Foundation, founded by the former Minister of Finance, Mrs Kemi Adeosun, says the<strong> <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/20\/swit-calls-for-use-of-technology-to-drive-tax-collection-revenue-growth\/\">Federal Inland Revenue Service<\/a><\/strong> ( FIRS) has certified corporate organisations\u2019donations to it as tax deductible.<\/p>\n<p>This is contained in a statement signed by Mr Tomisin Akinwunmi, the interim Chief Executive Officer of the charity organisation on Sunday in Abuja.<\/p>\n<p>Akinwunmi said that the government\u2019s revenue agency had consequently issued a tax-deductible donations certificate to DashMe Foundation, adding that the certificate was issued to it on Thursday in Abuja.<\/p>\n<p>Reports have it that DashMe foundations is a Lagos-based charity organisation founded by Mrs\u00a0 Kemi Adeosun in June 2021, with operations in Nigeria, the U.S. and UK.<\/p>\n<p>According to him, the FIRS issues tax-deductible donation certificates to carefully vetted registered charities, whose operations meet Nigeria\u2019s statutory \u2018public character\u2019 requirements.<\/p>\n<p>Akinwunmi said that Section 25(c) of the <strong><a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/04\/income-tax-returns-firs-extends-due-date-for-coys\/\">Companies Income Tax Act (<\/a><\/strong>CITA) permits companies to charitable donations to charities with tax-deductible donations certificates to a \u2018donation relief\u2019.<\/p>\n<p>\u201cThe donation relief provision is aimed at encouraging corporate bodies in Nigeria to channel their Corporate Social Responsibilities (CSR) donations to carefully-vetted non-governmental bodies.\u201d<\/p>\n<p>He said that corporate organisations that donate to it would now enjoy donation relief under its new status, \u201cwhich is an allowance to deduct their donations from their taxable profits.\u201d<\/p>\n<p>Akinwunmi expressed excitement at the funding possibilities that the foundation\u2019s new status offers.<\/p>\n<p>\u201cWe are thrilled by this development. Our projects are making a huge difference in the lives of people and this certification will encourage us and our partners to do more.<\/p>\n<p>\u201cWe are thankful to the FIRS for providing us with an opportunity to raise funds at a scale that will enhance our ability to reach more Nigerians.<\/p>\n<p>\u201cThe foundation has raised over N200 million in the past year through its thrift shops, corporate donations drives and snacks business.<\/p>\n<p>\u201cIt has undertaken projects in Borno, Cross River, Imo, Kano, Lagos Nasarawa, Niger, Ogun and Osun states respectively and planned to extend its operations to all parts of the country by 2023.\u201d<\/p>\n<p>Reacting to the development,\u00a0 the former Finance Minister expressed her delight at the FIRS\u2019s tax-deductible donations certificate to DashMe foundation.<\/p>\n<p>Adeosun said that the issuance of the certificate by FIRS was a recognition of the charity\u2019s strides in the past year and its commitment to changing the lives of\u00a0 vulnerable Nigerians.<\/p>\n<p>She said that DashMe Foundation was recently granted a similar certificate in the U.S, adding that the approval would energise the charity\u2019s drive to obtain the same tax-exempt status in the UK.<\/p>\n<p>\u201cI am delighted that FIRS has recognised DashMe Foundation as being worthy of this rare status. We believe that more corporate bodies will be incentivised to donate to us now that they know that their donations will be fully tax deductible.<\/p>\n<p>\u201cThe certificate will significantly enhance our capacity to raise more funds from the corporate sector and also enhance our ability to initiate more life-changing projects for Nigeria\u2019s most vulnerable children, women and other disempowered groups.\u201d<\/p>\n<p>NAN reports that the vision of DashMe Foundation raises funds from within Nigeria and the Diaspora to change the lives of Nigeria\u2019s most disempowered persons through projects that seek to improve the lives of orphaned children, women and underprivileged groups.<\/p>\n<p>The foundation\u2019s current projects include orphanage building project in Imo and Ogun states, sponsorship of orphans in universities, provision of prosthetic limbs and start-up capital for amputees and regular food donations to several orphanages and IDP camps.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fe<\/p>\n","protected":false},"author":32,"featured_media":40115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[11],"tags":[7287],"class_list":["post-40094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","tag-companies-income-tax-act"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FIRS certifies donations to DashMe Foundation as tax deductible \u2013 official &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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