TaxThursday – 02.04.2020

There is no doubt that COVID-19 hit all economies globally really hard. From the drastic decline in business activities to some organisations shutting down operations, the impact of the pandemic can hardly be ignored. To curb the rate at which the disease is rapidly spreading a number of countries have restricted movement with some implementing outright lockdowns.

I once heard that there are two things that are certain in this life; death and taxes. However, to mitigate the effects of the global pandemic, the governments of many countries have implemented monetary and fiscal measures; Nigeria is one of such countries and a number of palliative measures have been put in place, one of which is the proposed Emergency Economic Stimulus Bill 2020. Please read our thoughts on this Bill here in case you missed it. As it stands taxpayers still have to comply with their tax obligations either as it relates to tax filings or remittances.