Private security firm seeks tax break

The Manager for the Security Expert Guard Agency of Liberia or SEGAL, Momo Cyrus pleads with the Government of Liberia to grant private security companies operating in the country at least one year tax break.

He stresses that tax holiday will help the private security sector to grow, saying, “Within that one year period, the private security companies can generate more money and improve their services”

Mr. Cyrus explains that taxes private security companies pay to government take away profits earned by these firms.

“We request on behalf of the private security companies a one year tax break, we are asking for this one year tax break because we are not making profit as we speak; it’s our profit that we supposed to be making that we give as taxes, so we appeal to government to grant us that one year tax break to help us,” he pleads.

He also wants government to set up an executive body to monitor private security institutions throughout the political landscape of Liberia.

According to him, setting up such body to monitor the private security firms would help reduce mushroom security firms operating in the country.

He says private security companies that do not meet standards to operate could be vented thoroughly to ensure they meet the requirement before being licensed.

“There are much mush-room security institutions that cannot meet up with the standards or preference, and if being licensed as private security institutions, it will bring embarrassment to the sector,” he cautions.

He welcomes competition in the sector, but calls for robust and qualified institutions that will bring competition in the sector.

He said when government constitute a monitoring body it will assist in regulating and evaluating standards in the private security sector, which will befit taste for the Liberian people and find an amicable environment for working procedures.

Mr. Cyrus spoke recently in Monrovia when he was honored and certificated by students from various universities in the city under the umbrella, Progressive Students Alliance of Liberia.

He reiterates collaboration and consultation of the Public-Private- Partnership (PPP) that his security firm has been unceasingly proffering to national government.

The SEAGAL boss notes that the private security sector has played meaningful role and contributed immensely to society by helping to reduce poverty.
“Permit me to say that the private security sector has played a significant role; has immensely contributed to the growth of our country’s economy and security. Hence, we would solicit foreign training by and through the negotiation of national government,” he addss.

Speaking earlier the head of the Progressive Students Alliance of Liberia, Barmon Jallah says the recognition was based on the hard work and dedication Mr. Cyrus has brought to the sector.

He continues that certificating SEAGAL as the best private security firm in the country was not a mistake. “Your work has proven this honor and we urge you to continue your hard work in the private security sector of Liberia,” he challenges the honoree.

Mr. Jallah explains that the award is in recognition of the institution’s numerous contributions to maintaining law and order in Liberia.

By Ethel A. Tweh-Editing by Jonathan Browne