Investors’ symbiotic relationship with government panacea to growth of hospitality industry.-May 19th, 2016 Edo State Internal Revenue Service (E.I.R.S) has hinged the development and growth of the hospitality industry in the state on a symbiotic relationship between the service and investors in the industry. Emmanuel Usoh, acting Executive chairman of the Service, made the call at a one day sensitization and enlightenment workshop for proprietors of hotels, eateries, restaurants and stakeholders in the sector on Consumption Tax Law in Benin City. Usoh noted that the cordial relationship between the revenue service and investors in the sector would positively impact on the development and growth of the sector in the state. He noted that the hospitality industry was one of the highest employers of labour in the state, saying it was the optimum priority of the state government to ensure that investors in the hospitality industry operates in a cordial and harmonious environment. According to Usoh, “what we brought to you today is the human face of taxation as it relates to the issue of consumption tax”. “This tax should not come from you. What we expect is for the hotelier to embrace this tax so that we move to a position where a portion of that tax is used to foster your business,” he said. He posited that the workshop was to tackle challenges associated with the collection of Consumption Tax by hoteliers and operators of eateries and event centres. Godwin Obaseki, chairman Edo State Economic Team, said there was need to continuously sensitize the people to understand the need to develop the state through their taxes. Mr. Obaseki, who advocated for broadening of the state tax base for development of the state, opined that it was a key contribution to the Gross Domestic Product of the state.
Investors’ symbiotic relationship with government panacea to growth of hospitality industry.
