Coronavirus
Ethiopia moves ahead of Nigeria, offers tax relief to firms affected by COVID-19
In reaction to the economic crisis, triggered by the coronavirus pandemic, Ethiopia has offered tax relief to companies affected by this.
In reaction to the economic crisis, triggered by the coronavirus pandemic, Ethiopia has offered tax relief to companies affected by the outbreak.
According to a report from Bloomberg, this was disclosed by the state television station, which cited Ethiopia’s Minister for Finance, Eyob Tekalign.
While citing the Finance Minister, the Ethiopian Broadcasting Corporation reported that companies with interest payment and penalties on outstanding taxes due between 2015 and 2018 would have them cancelled and the underlying tax due could be paid in instalments.
READ MORE: “There will be no downsizing”, Access Bank assures its employees in spite of the pandemic
In addition, companies affected by the coronavirus pandemic would get relief for four months of income tax. The Ethiopian Government would also grant a one-month grace period on payment of value-added and turnover tax payments.
The television station announced that companies that paid their taxes in lump sums would receive 10% discounts, and those that were donating to the COVID-19 response fund would get 20% discount.
(READ MORE: FG issues guidelines on implementation of gradual easing of lockdown nationwide)
Meanwhile, in a similar situation, Nigeria’s Federal Inland Revenue Service (FIRS), a few days ago, had offered a waiver on interests and penalties for tax debtors, if they paid the outstanding tax arrears in full, on or before May 31, 2020.
Also, some weeks ago, Nigeria’s Finance Minister Zainab Ahmed said that the Federal Government was considering giving tax relief to corporate organizations that made donations to the COVID-19 intervention funds. She added that the Government was considering the option of tax deferral, rather than tax reduction.
However, there were mixed reactions, when the FIRS Chairman asked corporate organizations in sectors that were booming during this lockdown, occasioned by the coronavirus pandemic, to make payments of their annual returns before the due date.
A lot of critics of that directive felt that it was insensitive of Government, who rather than give tax reduction, are asking companies that might be going through hard times to pay taxes upfront.
Some others supported the Government’s idea, as they felt that some sectors were making extraordinary income during this lockdown period, and as such, should bail out Government during this time of financial crisis.
In all, whether the government would emulate the Ethiopian government, no one can tell but it is generally believed that companies, especially the SMEs deserve tax relief to ease their burdens.
Coronavirus
Facebook launches social media drive to boost Covid-19 acceptance in Nigeria
This initiative is coming at a time when a good number of Nigerians are yet to accept the Covid-19 vaccine and promised not to take them.
Facebook has announced the launch of a new social media drive allowing people to add frames and graphics to their profiles on Facebook and Instagram, saying they have either had the Covid-19 vaccine or plan to do so.
The American Technology conglomerate is collaborating with the National Primary Health Care Development Agency (NPHCDA) and other key regulatory bodies within the Health Sector in the country in driving this initiative.
According to Punch, this disclosure was made known through a statement issued by Facebook on Friday, saying it would use its scale and speed to reach people faster and help them get credible information, get vaccinated and come back together safely.
This initiative is coming at a time when a good number of Nigerians are yet to accept the Covid-19 vaccine and promised not to take them.
Facebook said that the new range of Facebook frames and Instagram GIPHY stickers allow people to share their support for getting vaccinated with their family and friends, as the access to Covid-19 vaccines intensify across Nigeria.
The frames and stickers include banners that say ‘Let’s Get Vaccinated’ or ‘I Got My Covid-19 Vaccine’ which would appear overlaid on the edge of their profile picture next to a blue bubble that reads ‘We Can Do This.’
Facebook, pointed out that due to the reluctance of millions of people to accept the vaccine, it was launching the profile frames with research showing how social norms could have a major impact on people’s attitude and behaviour when it comes to their health.
Facebook’s Head of Public Policy for Anglophone West Africa, Adaora Ikenze, said, “We’re promoting these unique profile frames and GIFs to all Nigerian Facebook and Instagram users to raise vital vaccine confidence.’’
The new frames and GIPHY stickers let you share your support for COVID-19 vaccines, and see that others you respect and care about are doing the same.”
On his part, the Executive Director and Chief Executive Officer of the NPHCDA, Faisal Shuaib, said partnerships like the one secured with Facebook demonstrated the resilience of the human spirit to endure, innovate and reemerge with the promise of hope that COVID-19 vaccination offered to everyone.
What you should know
Facebook has in recent times, have been taking aggressive measures to do away with vaccine misinformation across the globe.
A top executive of Facebook had said that the company has fact-checkers in dozens of countries around the world, who are really working round the clock to look at misinformation about vaccines, as it sees it as absolutely imperative to try to get misinformation off the platform and redirect people to accurate information.
Facebook said that it started removing false information about Covid-19 vaccines in December, and expanded the list of offending vaccine-related claims two months later.
Business News
COVID-19 Update in Nigeria
On the 24th of April 2021, 51 new confirmed cases were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 164,684 confirmed cases.
On the 24th of April 2021, 51 new confirmed cases were recorded in Nigeria.
To date, 164,684 cases have been confirmed, 154,687 cases have been discharged and 2,061 deaths have been recorded in 36 states and the Federal Capital Territory.
A total of 1.87 million tests have been carried out as of 24th April 20th, 2021 compared to 1.84 million tests a day earlier.
COVID-19 Case Updates- 24th April 2021,
- Total Number of Cases – 164,684
- Total Number Discharged – 154,687
- Total Deaths – 2,061
- Total Tests Carried out – 1,870,915
According to the NCDC, the 51 new cases are reported from 6 states- Yobe (19), Lagos (17), Rivers (8), Abuja (4), Akwa Ibom (2), and Bayelsa (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 58,273, followed by Abuja (19,763), Plateau (9,049), Kaduna (9,039), Rivers (7,091), Oyo (6,844), Edo (4,898), Ogun (4,647), Kano (3,942), Ondo (3,226), Kwara (3,120), Delta (2,617), Osun (2,572), Nasarawa (2,380), Enugu (2,281), Katsina (2,097), Gombe (2,034), Ebonyi (2,020), Anambra (1,909), Akwa Ibom (1,843), and Abia (1,683).
Imo State has recorded 1,655 cases, Bauchi (1,540), Borno (1,337), Benue (1,188), Adamawa (1,063), Niger (930), Taraba (910), Bayelsa (885), Ekiti (869), Sokoto (775), Jigawa (527), Kebbi (450), Cross River (394), Yobe (365), Zamfara (240), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.
Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.
On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.
On 28th February 2021, the federal government confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2nd, 2021.
On Tuesday, 2nd March 2021, the National Primary health Care Development Agency announced the arrival of the expected COVX Astrazeneca/Oxford covid-19 vaccines.
On Saturday, 6th March 2021, President Muhammadu Buhari and his vice, Yemi Osinbajo received vaccination against the covid-19 as the State House in Abuja.
READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous
