Firm Advocates Tax Exemption for Start-ups


James Emejo in Abuja 

The Chief Medical Director (CMD), Skin 101 Medical Centre, Dr. Hilda Titiloye has urged the government to exempt start-ups and small businesses from taxation 

She said this would among other things encourage productivity and growth as well as boost the economy as SMEs remain a catalyst to growth.
Speaking at the lunch of a new facility in Abuja, she urged the federal government to consider exempting small businesses that are just starting up from tax as a means of motivating young people in entrepreneurship.

She recalled that unlike in the past years, small businesses were not required to pay taxes, adding the present predicament started two years ago when tax officers insisted SMEs should be taxed.
Titiloye further argued that taxes could be burdensome and a great discouragement in business.

She said lack of power supply was also killing businesses,  urging the government to consider the amount of money spent by SMEs in providing electricity to sustain their venues.

“Businesses are open to make profit but with all these lack of infrastructures where is the profit? She queried, adding that “it is not easy running businesses on generators, there is no need over flogging the matter, and I think the government knows what should be done. However, it can be difficult for any business when you spend so much on diesel or any alternative means of power supply.”

The CMD said:“We are law-abiding citizens, so we will pay our tax but simple things like giving a new business tax holiday or people that provide certain essential services would further help to grow SMEs and at the same time serve as an encouragement for more people to come on board.”
Skin 101 provides services in a broad spectrum of cosmetic medical care.