2023-10-23 00:11:23
OHADA: Churches and mosques will have to keep accounts
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From January 1, 2024, all churches and mosques in Benin like those in 16 other countries within the OHADA area (Organization for the Harmonization of Business Law in Africa) must keep accounts. This is one of the decisions taken during the 53rd session of the Council of Ministers held on December 22, 2022. According to the final communiqué, the work of this session resulted in the adoption of a Uniform Act relating to the accounting system of non-profit entities, abbreviated SYSCEBNL. It also specifies that the Regulation relating to the creation, organization and operation of the Accounting Standardization Commission has been reformed to give rise to a Standardization Commission for the Accounting Profession, with an enriched composition and more extensive responsibilities. These religious organizations are now called upon to pay taxes and VAT like associations, NGOs, development projects and professional orders.
The accounting system for non-profit entities is a system for organizing financial information with the aim of presenting financial statements reflecting a true and fair view of the financial situation, performance and variations in the cash position of non-profit entities in order to meet the needs of all users of this information.
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#Churches #mosques #accounts