The chairman of in the council include University of Lagos (UNILAG), Yaba College of Technology (YABATECH), West African Examination Council (WAEC), Federal College of Education (Technical), Psychiatric Hospital, Queen’s College, three military barracks, State CID, among others.
According to the council boss, none of the institutions occupying half of the council’s land is paying a dime into its purse. “We spend a lot of money to provide infrastructure, maintain them and make workers of these institutions comfortable.” Omiyale spoke during a business summit organised by the council to provide a forum for interpersonal relationship between the council and the business community. He said: “Very few of the businesses operating within Yaba LCDA pay our rates; some of those paying are doing it after being compelled. We have shown them what the resources we get is spent on, and we are very prudent in our spending.” The chairman further urged business owners to prioritise youths in Yaba for employment as part of their Corporate Social Responsibility (CSR). Facilitator of the summit, Prof. Abiola Sanni, a tax consultant, advised the councils to embrace e-payment and reduce physical contact and cash payment. This, he said, would ensure prompt issuance of receipt. A call was made for heads of the institutions to pay the required rates for the businesses operating within their institutions.

Source: Guardian

Contact InnerKonsult for Professional Services on Tax, Accountancy and CAC Services. O8038460036, www.innerkonsult.com