A Cosmetic clinic, Skin 101 medical centre, is advocating for tax exemption for emerging Small and Medium Enterprises (SMEs) as a tool for encouraging productivity and growth as well as boosting the economy of the country.
Speaking at the lunch of a new facility at the weekend in Abuja, Dr Hilda Titiloye, called on the federal government to consider exempting small businesses that are just starting from tax as a means of motivating young people into entrepreneurship.
She lamented that, “we use to have tax exemption until two years ago when tax people walk to us and said you are providing a lot of cosmetic services, you need to pay your tax.
“In most countries, medical services is medical service provided by a Doctors, that it is a cosmetic angle does not mean the patients would pay more and I think when they look at this facility, it does not quite look like a regular medical centre to them.
“So the patients coming here will pay VAT and essentially pay more from the services they will access here than if they have accessed the same services from a teaching hospital” adding that “taxes can be a bit of a burden and discouragement in business,” She stated.
Titiloye also said another factor which the authorities should have to consider is the amount of money spent by SMEs in providing electricity supply to their business venues.
“It is not easy running business on generators, there is no need over flogging the matter, I think 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,” she noted.
The CEO of Skin 101 stated further that, “we have to do what we have to, we are law-abiding citizens so we will pay our tax but simple things like giving a new business tax holiday or people that provides certain essential services would further help to grow SMEs and at the same time serves as an encouragement for more people to come on board.”
Skin 101 provides services in a broad spectrum of cosmetic medical care, starting from the basic facials to mummy makeover, Dermatology, aesthetic cosmetic, plastic surgery among others.