Lagos Govt To Give Tax Break To Looted Businesses
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).