Kwara Govt. to relief small businesses on taxes

The Kwara State Government has announced its directive of the state’s revenue service to put in motion, a five-year tax relief regime for small business owners in the state.
The initiative is part of the government’s effort to encourage small business owners and eradicate poverty in the state.

 A statement released by Wahab Oba, the Chief Press Secretary to Governor Abdulfatah Ahmed on Tuesday, quoted the governor as saying that the five-year tax relief regime is imperative in order to allow for economic growth and development of the state.
Mr. Ahmed, according to the statement, gave the directive in Ilorin at a lecture to mark the 50th anniversary of the state.
Speaking further, the governor maintained that the state has not introduced fresh taxes but “only succeeded in blocking leakages in the system through effective management of the collection processes.”
The governor said, “Our business is not to kill your business but to grow your business.”
He, therefore, directed Chairman of the state Internal Revenue Service to coordinate the process of the tax holiday, the statement said.
Earlier, the guest speaker and former Deputy Governor, Central Bank of Nigeria, CBN, Sarah Alade, advised the state government to design an economic blue print that would strategically reposition the state for economic prosperity.
In her paper titled “Socio-Economic Development of Kwara State: An Agenda for the future,” Ms. Alade said Kwara State has the lowest unemployment rate in the country and should never be among the poorest.
She, therefore, urged the government to step up its Public Private Partnership concept, the statement said.
On his part, the Chairman of the Kwara State Internal Revenue Service, Murtala Awodun, stressed the need for tax holiday for micro, small and medium enterprises if the state must open up for economic growth and development.
Mr. Awodun explained that report has it that more than 70 per cent of small businesses die within the first five years of their existence.

“He therefore, called for tax waivers of five years for small businesses with a view to creating economic prosperity in the state,” the statement said.
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