Lagos to give tax break to looted businesses | Dailytrust

Lagos to give tax break to looted businesses

Governor Babajide Sanwo-Olu of Lagos state
Governor Babajide Sanwo-Olu of Lagos state

Governor Babajide Sanwo-Olu of Lagos state has promised financial support and tax break to assist tenants and shop owners at the Circle Mall in Lekki after they were affected by the recent #EndSARS protests.

He made the promise during a condolence visit and meeting with tenants and shop owners at the mall.

The governor explained that the victims will get support in the form of grant or loans to cushion the effect of the looting and destruction of their respective shops and stores.

He further explained that the grant support is a non-refundable financial support to the victims, emphasising that the affected businesses are not expected to pay back.

“I am already discussing with some financial institutions to assist people with zero interest loans,” he said.

While he emphasised that the state government will give all business owners in the burnt Circle Mall a tax break of Pay As You Earn (PAYE), he appealed to the Federal Government to ensure that they get tax relief from the Federal Internal Revenue Services (FIRS).

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410