A Bill for an Act to Amend Part II of the Companies Income Tax Act (1990) to Include the Provision of tax Relief for Corporate Organizations Based on their Contributions Towards Philanthropic and Corporate Social Responsibility Initiatives and for Related Matters

Abstract

This Bill seeks to amend Part II of the Companies Income Tax Act (1990) to include the granting of corporate organizations tax relief based on their contributions towards philanthropic and corporate social responsibility initiatives throughout the Federal Republic of Nigeria. This includes but not limited to Sports and education but all aspects of the Federal Governments Vision to attain its Millennium Development Goals (MDG's). Developing a tax relief bill to be included in the Companies Income Tax Act (1990) will help achieve sustainable and measurable results in a medium/long term frame and these initiatives will be outlined on what the economy demands according to specific requirements.