Sign the petition to Give Biz Start-ups 3yrs Tax Free Holiday, Amnesty for all CAC Registered Business Names
Let us demand better services from the government as a compensation for tax compliance. We need at least 3 years tax free holidays for all start-up companies and amnesty for all Corporate Affairs Commission registered businesses held captive by the heavy fines and penalties of the International Financial Reporting Standard and FRCN, FIRS, LIRS.
Let us unite for a change that all Nigerians will benefit from regardless of your State of origin, tribe or gender. We all need to act now before this new government loses sight of the major problems we are facing on a daily basis as Entrepreneurs.
Micro, Small and Medium Enterprises (MSMEs) remains the engine of growth of many developed countries, as they offer more than 80 percent of employments to the youths and the working class of such countries. In Nigeria, most MSMEs are finding it difficult to survive, with the burden of penalties, exorbitant taxes and levies on their businesses resulting to instant death of such business, mass unemployment and encouragement of sharp practices.
While many developed countries exempt their MSMEs organizations especially the start-ups from payment of taxes, the reverse is the case in Nigeria, where they face multiple taxation problems from the various tiers of the government agencies right from the start.
A start-up and a Micro business is made to pay the same tax rate that a Dangote pays, while a Dangote gets many tax relief.
Women start-ups, those in the informal sector, often bear the brunt of this problem due to the ignorance of their tax obligations and the amount expected to be paid. It has been learnt that most tax collectors or area boys in the informal sector play on the ignorance of most business owners and impose exorbitant taxes and levies on their businesses with most of the money going to their private pockets.
We cannot boast of a genuine database of registered businesses. The CAC database if filled with stagnant and dead companies’ whose owners intentionally killed it and set up another just to avoid the heavy penalties from the FRCN, FIRS and LIRS. This must stop and we need your support to make it happen. Please join us, Support Nigeria Association of Small and Medium Enterprises Lagos Chapter. Let’s do this sign this petition now!