Quick Fix Economic measures for #COVIDー19
1) Suspend Income Tax
To make sure individuals have more dollars in their pockets to weather the storm, Gvt ought to provide at least a 3month tax holiday to all workers on income tax. This will boost consumption and economic activity
1) Suspend Income Tax
To make sure individuals have more dollars in their pockets to weather the storm, Gvt ought to provide at least a 3month tax holiday to all workers on income tax. This will boost consumption and economic activity
2) Suspend Corporate Tax
Our Gvt has no capacity to bail out strategic corporates. However a suspension of corporate tax will ease the burden of declining sales due to low economic activity as a result of the pandemic. Gvt can still collect taxes through VAT on sales.
Our Gvt has no capacity to bail out strategic corporates. However a suspension of corporate tax will ease the burden of declining sales due to low economic activity as a result of the pandemic. Gvt can still collect taxes through VAT on sales.
3) Repayment holidays on loans
To cushion borrowers from default, Banks can extent repayment holidays on Principal amounts.However borrowers should honour the payment of interest until such a time when things return to normal!
To cushion borrowers from default, Banks can extent repayment holidays on Principal amounts.However borrowers should honour the payment of interest until such a time when things return to normal!
4) Redirect 2% Tax to Social Welfare
There is need for the Gvt to redirect the 2% IMTT Tax revenues to support efforts to curb and contain the Covid-19 pandemic. This measure will be married to the campaign for Social Isolation and the use of digital platforms.
There is need for the Gvt to redirect the 2% IMTT Tax revenues to support efforts to curb and contain the Covid-19 pandemic. This measure will be married to the campaign for Social Isolation and the use of digital platforms.
