Tax Relief Given To SMEs By Kwara State Government

The Kwara State government will give a five-year tax relief to small businesses to encourage owners and eradicate poverty.

According to Governor Abdulfatah Ahmed, the tax relief is imperative to allow economic growth and development.

The governor gave the order yesterday in Ilorin at a lecture to mark the 50th creation anniversary of the state.

He maintained the state has not introduced fresh taxes but “only succeeded in blocking leakages in the system through effective management of the collection processes.”

“Our business is not to kill your business, but to grow it,” he assured business owners.

The governor, therefore, directed Chairman of the state Internal Revenue Service to coordinate the process of the tax holiday.

Guest speaker and former Deputy Governor of the Central Bank of Nigeria (CBN), Mrs. Sarah Alade, advised the government to design an economic blueprint which will strategically reposition the state for economic prosperity.

In her paper, titled; “Socio-Economic Development of Kwara State: An Agenda for the future,” Dr. Alade said Kwara 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 initiative.