Monthly Archives: Apr 2020

Cecil Kilpin | Further Tax Measures To Combat The Covid-19 Pandemic

By |2020-12-03T06:51:32+02:00Apr 29th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax, Vat|

  In line with the President’s address to the nation on 21 April 2020, the Minister of Finance has provided more detail on the second set of measures that aim to assist individuals and businesses through the pandemic. The interventions include:     Skills Development Levy Holiday: From 1 May 2020, there will be a four-month holiday for skills development levy contributions Fast-Tracking of Value-Added Tax (VAT) Refunds: Smaller VAT vendors that are in a net refund position will be temporarily permitted to file monthly instead of once every two months, thereby unlocking the input tax refund faster and immediately helping with cash-flow Three-month Deferral for Filing and First Payment of Carbon Tax Liabilities: To provide additional time to complete the first return, as well as cash flow relief [...]

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Cecil Kilpin | April 2020 Newsletter

By |2020-12-03T06:54:42+02:00Apr 27th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

*IMPORTANT: This article is based on an extract from a draft government document.   Risk-Adjusted Strategy For Economic Activity Though the national lockdown has shown early evidence on how it has successfully helped to flatten the curve and limit the spread of Covid-19, there are numerous risks if the lockdown is lifted too quickly or without any strategy. Below is an excerpt given by government discussing evidence from the 1918 Spanish Influenza with regards to long-run economic consequences: "On the one hand, NPIs constrain social interactions while they are in place, and thus necessarily depress any type of economic activity that relies on such interactions. On the other hand, because the pandemic itself has severe economic consequences, by reducing the severity of the pandemic, NPIs [...]

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