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Nothing Like Multiple Taxation In Lagos – Sanwo-Olu

Chairman, Federal Inland Income Service (FIRS), Mr. Muhammad Mamman Nami, with Lagos State Governor, Mr. Babajide Sanwo-Olu throughout a courtesy go to to the Governor at Lagos Home, Alausa, Ikeja, on Tuesday, February 18, 2020.

 

Governor Babajide Sanwo-Olu on Tuesday stated there may be at present no a number of taxation in Lagos State income system.

Based on him, his administration will all the time enhance on the convenience of doing enterprise within the state reasonably than stifle the financial system with loaded taxes.

He disclosed this whereas receiving the Govt Chairman, Federal Inland Income Service, (FIRS) Mr. Muhammad Nami at his workplace in Ikeja, the state capital.

“We’ll be sure that there may be the convenience of doing companies, particularly start-ups, which are all the time scared that they’ve a number of taxation. There’s nothing like a number of taxation in Lagos.

“It’s clear that they’re exempted however that doesn’t cease them from doing correct submitting and guarantee clear reporting at whichever stage of their enterprise.

“We will even use this chance to encourage our residents that it’s only after they play their very own half as accountable residents each on the company and particular person stage that the federal government can come up and discharge its duties.”

Sanwo-Olu additionally confused that growth can solely happen in a state when taxes are promptly paid by the residents.

“It is only when we collect reasonably amount of tax that we can introduce development both at the infrastructure level and more importantly on security so we cannot but ensure that we collaborate and corporate with you,” he added.

The Governor promised that Lagos State Authorities would proceed with the present relationship and additional collaborate with the Federal Inland Income Service in sharing data to help income assortment and guarantee deliverables have been met.

Responding to the FIRS Boss on the N8.5 trillion goal set by the President, Governor Sanwo-Olu stated the nation has the capability to generate such quantity however warned that it should be performed cautiously.

Nami stated the intention of the go to was to make sure efficient efficiency of the service in assembly its goal and in its request to share data, collaborate in constructing capability in addition to interact the personal sector on the Worth Added Tax assortment.

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