Home Blog Page 2521

FG considers tax exemption for small businesses

0

The exemption of small businesses from the payment of tertiary education tax has been proposed in the draft Finance Bill 2020.

This was disclosed by the Fiscal Policy Reforms Committee, established by the Ministry of Finance, Budget and National Planning and chaired by the Special Adviser to the President on Economic Matters, Dr Adeyemi Dipeolu.

The Chairman, Drafting Sub-committee and member of Fiscal Policy Reforms Committee, Mr Ajibola Olomola, said the proposal for Finance Bill 2020 “is to introduce an amendment to the Tertiary Education Tax Act to exempt small businesses from Tertiary Education Tax”.

According to the committee, currently, all companies registered in Nigeria are required to pay TET at two per cent of assessable profits for each year of assessment.

It noted that the Finance Act 2019 introduced companies income tax exemption for small businesses.

“However, in line with the Federal Government objective of incentivizing small businesses, there is a need to introduce similar exemption for TET,” Olomola said at a virtual consultation and stakeholder engagement on Friday to discuss the economic and fiscal policy drivers underpinning the bill.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the President had indicated in his 2021 executive budget presentation speech that the Finance Bill “is to support the realisation of our 2021 revenue projections and that we will be adopting appropriate counter-cyclical fiscal policies that will enhance the efficiency of fiscal incentives.”

According to the committee, there is a proposal to introduce legislation to empower the Federal Inland Revenue Service to deploy technology for general tax administration.

It was also proposed that penalties should be introduced for breach by tax officials of taxpayer confidentiality.

Olomola said, “The Finance Bill 2020 will include certain provisions that allow the tax authorities deploy information technology for the collection of taxpayer information of tax and reduce cost of collection.

“In light of this proposal, stringent rules are also proposed to secure taxpayer confidentiality from unauthorised access by third parties. The Finance Bill 2020 will look to introduce significant penalties for breach of data confidentiality by tax officials.”

According to the committee, there is a proposal for the creation of an unclaimed dividend and unutilised bank balance trust fund wherein dividends declared and unclaimed would be warehoused and owed as a perpetual debt to shareholders.

“This change corrects an anomaly under the CAMA which extinguishes shareholder’s right to dividend after 12 years and returns the money to the company for redistribution to other shareholders,” Olomola said.

Just In: Yellow fever outbreak spreads to three more LGAs in Enugu

0

There’s tension in Enugu State following the report of a suspected Yellow Fever outbreak in three more local government areas of the state.

Enugu State had been battling to contain the outbreak of the disease in two communities of Ette Uno and Umuopu in Igbo-Eze North Local Government Area of the state, which reportedly claimed 52 lives between late October when the outbreak was first reported and November 2020.

The state government has also confirmed it had received reports of strange deaths within communities in Nsukka, Isi-Uzo, and Igbo-Etiti LGAs.

A statement by the Commissioner of Health, Prof Ikechukwu Obi, released on Sunday night, disclosed that the ministry’s Rapid Response Team, LGA Rapid Response Teams in collaboration with International and National Partners had visited the communities to investigate the reports and had taken samples for testing.

The statement partly read, “Following the confirmed cases of Yellow Fever in Igbo Eze North LGA of Enugu State and the concerted efforts to control the situation in the LGA by the State Government, Stakeholders and Partners; Federal and International, reports have also been received of ‘strange deaths’ within communities in Nsukka, Isi-Uzo and Igbo-Etiti LGAs.

“The Enugu State Ministry of Health Rapid Response Team, LGA Rapid Response Teams, International and National Partners have also visited these LGAs to investigate the reports and take samples for testing just as was done for the reports at Igboeze North.

“The new set of samples from these LGAs have been sent to the National Reference Laboratory at the Federal Capital Territory Abuja for a thorough and complete examination to determine conclusively the reasons for these new set of reports and the results are expected back early this week.”

While the Health Commissioner condoled with families that lost their loved ones in the unfortunate development, reminded residents of the state that “Yellow Fever is transmitted through mosquito bites”.

He, therefore, advised that people should keep their environment clean and remove mosquito breeding sites around their homes.

He added, “Yellow Fever Vaccination is not for treatment of Yellow Fever, it is for prevention of Yellow Fever.

“If you have been recently vaccinated against Yellow Fever, you do not need to be vaccinated again.

“It takes 10 days or more for Yellow fever vaccine to start working after you have received it.

“If you or your loved one are not feeling well, please visit or take your loved one to a nearby hospital for treatment. Trained Health Workers can recognize most of the diseases of public health importance and know what to do.”

US election: Trump acknowledges Biden won but refuses to concede

0

Donald Trump has insisted he is not conceding the US election, despite seemingly acknowledging for the first time that Democrat Joe Biden won.

“He won because the Election was Rigged,” the Republican president wrote on Twitter, repeating unsubstantiated claims of election fraud.

About an hour later he said he was not conceding the 3 November vote.

He has launched a slew of lawsuits in key states, but has not provided any evidence to back his claims of fraud.

All the lawsuits have so far been unsuccessful.

On Friday, election officials said the vote was the “most secure in American history” and there was “no evidence that any voting system deleted or lost votes, changed votes or was in any way compromised”.

Meanwhile, Mr Biden remains president-elect.

See Also: US election: Sources say Trump give conditions for transfer of power

The Democrat has 306 votes in the electoral college – the system the US uses to choose its president – which far exceeds the 270 threshold to win. Any recounts or legal challenges are not expected to overturn the overall result.

Mr Biden’s lead in the popular vote has also surpassed five million.

Nevertheless, Mr Trump had refused to acknowledge Mr Biden’s victory until – apparently – now.

In a news conference on Friday, Mr Trump said “who knows” which administration would be in power in the future.

His refusal to concede has heightened concerns about the US government’s ability, going forward, to tackle growing Covid-19 infection rates.

Nigeria records 152 new COVID-19 cases as toll exceeds 65,0000

0

The Nigeria Centre for Disease Control (NCDC) has confirmed 152 new COVID-19 positive samples in seven states and the federal capital territory (FCT) on Sunday, increasing the current total case count to 65,148.

The development comes exactly one week after Nigeria exceeded 64,000 confirmed infections.

As of November 8, 2020, NCDC confirmed 300 new cases, increasing the number of infections to 64,090 at the time.

According to the breakdown for Sunday, Lagos recorded a significant percentage of the total number of new cases with 136 infections, followed by Kano with 4; Niger with 3; Ekiti, Kaduna, Ogun and Taraba confirmed two each, while FCT has one fresh case.

See Also: EU’s First COVID-19 Vaccinations Could Happen In First Quarter Of 2021

However, no patient was confirmed to have died on Sunday – no new death has been recorded in two consecutive days now, leaving the fatality toll at 1,163.

Meanwhile, 44 people were discharged on Sunday, increasing the recovery count to 61,073.

Out of more than 700,000 samples now tested, 2,912 are still active cases — Lagos still has the highest number with 1,165 active cases; FCT is next on the list with 420 infections, while Oyo has the third-highest figure with 362 patients.

Calls for ‘Unity’ Really Calls for Capitulation

0

Political unity is an ugly, authoritarian idea. No free place has domestic political unity, nor should it aspire to it.q

What “unity” really means, of course, is capitulation. America is once again being subjected to the inane brand of pseudo-patriotic sloganeering we saw during President Barack Obama’s tenure.

Now, as then, the media will pretend that the moral fabric of the nation must be mended after Republican rule. It’s pretty transparent. When Democrats win the presidency, we are treated to solemn calls for national restoration and political harmony, and to the expectation that, for the good of the nation, the opposition will embrace decorum and pass legislation they oppose.

When Republicans win elections, grown women put on knitted hats depicting their reproductive organs and stomp around Washington protesting, all to a hero’s welcome.

Time magazine, the same publication that helped erode trust in our electoral system with conspiratorial covers of the White House morphing into the Kremlin, now offers a commemorative cover featuring Joe Biden and Kamala Harris with the words, “A time to heal.”

Unlike some of our progressive friends, I don’t believe in enemies lists or censorship, so my healing process is simple: It involves playing whatever small part I can in extinguishing the political fortunes of those who want to weaken the Constitution.

I’m not at all interested in finding accord with those who want to overturn the Hyde Amendment, thereby making late-term abortion a state-funded practice, or with anyone who wants to “reengage” without any genuine preconditions with Holocaust-denying terror regimes such as Iran, or with anyone who wants to further socialize our health care system by adding a “public option.” Like many others, I find disunity quite therapeutic.

I suspect that, in a few weeks, “political polarization” will once again become an existential crisis of American governance. My favorite postelection headline came from the social scientists at Pew Research Center, who informed us that the “2020 election reveals two broad voting coalitions fundamentally at odds.” Two broad coalitions, you say? Fundamentally at odds? What are the chances?

Michelle Obama says we can overcome our divisions, but that Democrats must first remember “that tens of millions of people voted for the status quo, even when it meant supporting lies, hate, chaos, and division.” She suggests that there is “a lot of work to do to reach out to these folks in the years ahead and connect with them on what unites us.”

It’s somewhat difficult to process this level of obnoxious sanctimony. Here is a list of demands you divisive Republicans must embrace for the country to “unite.” Get on with it.

Anyhow, I reject this false choice in the name of patriotic disunity. Not one of those 72 million agents of chaos lied to millions of Americans to strip us of our health care insurance plans. Not one of those voters has attempted to force nuns to buy contraception—or sued them when they refused.

One day, I hope Michelle Obama will stop defending the lies, hate, and division that her husband inflicted on this great nation. Until then, though, we’ll have to agree to disagree.

We do that sort of thing in Washington. The liberal pivot from “resistance” to “unity” is as swift as it is dishonest. After four years of treating every unexceptional conservative policy victory as one of the Seven Seals of the Apocalypse, Washington Post columnists are already dusting off their columns about “obstructionism” and “minority rule.” After years of blanket opposition to Trump, we are being told that Biden has a national “mandate.”

He does not. God willing, Washington is headed for more “gridlock”—a completely healthy, organic reflection of the geographical, ideological, and theological differences of real people in contemporary America.

Congress makes laws, and right now that institution is narrowly divided and unlikely to be able to come together on any of the big-ticket items Biden promised. This is why federalism exists.

Unity is found in comity with your neighbours, in your churches, and schools, in your everyday interactions with your community. Politics is not a place for unity. It is a place for airing grievances. And we’ve got plenty.

By David Harsanyi

France Says It Has Killed Senior Al Qaeda Operative In Mali

0

French forces have killed Bah ag Moussa, a military leader of al Qaeda’s North Africa wing, during an operation in northeastern Mali.

Moussa, who was on the US terrorism list, was killed on Tuesday after an operation involving ground troops and helicopters and comes after a series of operations that have seen French forces kill dozens of Islamist fighters in recent weeks.

In a statement, Armed Forces Minister Florence Parly said on Friday that the killing of Bah ag Moussa, considered responsible for several attacks against Malian and international forces, is a major success in the fight against terrorism

The former Malian army colonel, also known as Bamoussa Diarra, was a right-hand man of Iyad Ag Ghali, the leader of Mali’s most prominent jihadi group, Jama’at Nusrat al-Islam wal-Muslimin (JNIM).

Also, French military spokesman Col. Frederic Barbry told reporters on Friday that Moussa was believed to be responsible for multiple attacks on Malian and international forces in the country.

Barbry said Surveillance drones helped French forces in Mali identify Moussa’s truck in the Menaka region of eastern Mali, which was then targeted by the helicopters and 15 French commandos sent to the scene.

Former colonial power France has more than 5,100 personnel spread across the region with a large portion in Mali operating against rising militancy.

British Prime Minister Johnson’s Top Advisor Dominic Cummings Steps Down

0

Dominic Cummings, the controversial brains behind the 2016 Brexit campaign, on Friday stepped down as Prime Minister Boris Johnson’s top aide

Amid speculation that he would leave the government at the end of the year, Dominic Cummings was pictured Friday leaving from the front door at 10 Downing Street.

Cummings, a chief architect of the campaign to have Britain leave the European Union, has been a divisive figure inside the Conservative government since Johnson became prime minister 16 months ago.

His position weakened earlier this year after he drove hundreds of miles across England after contracting Covid-19, violating national lockdown rules and leaving the impression that elite officials didn’t have to obey the same onerous rules as everyone else.

The episode fuelled criticism of the government’s handling of the pandemic after delays in the expansion of testing and efforts to avoid a second national lockdown in England.

That lockdown was finally imposed last week, but it couldn’t stop the UK from becoming the first country in Europe to pass 50,000 deaths during the pandemic.

French Security Bill To Outlaw Dissemination Of Malicious Images Of Police

5

A new French security bill proposes to forbid the dissemination for malicious purposes of images of police officers doing their jobs which supporters say would protect officers from personal attacks using social media.

Article 24 of France’s new security bill would make it a criminal offence to disseminate images meant to harm the physical or mental integrity of police officers.

This clause was first proposed by Jean-Michel Fauvergue, an MP for President Emmanuel Macron’s La République En Marche (LREM) party, and could be punishable with one year in prison and a €45,000 fine.

LREM MP Alice Thourot told France Inter radio that the purpose is to forbid any calls for violence or reprisals against officers and their families in videos broadcast over social media.

However, some critics of the proposed new law claim that it could have unintended consequences.

On November 8, some 30 members of France’s Society of Journalists published an open letter denouncing what they regard as a “threat to the freedom to report.

Amnesty International, meanwhile, says if it passes the law the French government would be violating the UN’s 1966 International Covenant on Civil and Political Rights, which protects freedom of expression.

Ethiopia Government names new leader of Tigray region (UPDATED)

0

Ethiopia on Friday appointed a new head of Tigray region, Mulu Nega, one week after parliament voted to remove the executive Addis Ababa deems rebellious.
Mulu Nega’s appointment was announced by PM Abiy Ahmed via Twitter and he replaces Debretsion Gebremichael, whose immunity from prosecution was removed Thursday.
Meanwhile, Amnesty International said Thursday that scores of civilians were killed in a “massacre” in the Tigray region, that witnesses blamed on forces backing the local ruling party.
It stated that the massacre is the first reported incident of large-scale civilian fatalities in a week-old conflict between the regional ruling party, the Tigray People’s Liberation Front (TPLF), and the government of Prime Minister Abiy Ahmed.
Also, Witnesses said the attack was carried out by TPLF-aligned forces after a defeat at the hands of the Ethiopian military, though Amnesty said it “has not been able to confirm who was responsible for the killings”.
Abiy ordered military operations in Tigray on November 4, saying they were prompted by a TPLF attack on federal military camps — a claim the party denies.
The region has been under a communications blackout ever since, making it difficult to verify competing claims on the ground.

Sierra Leone stuns Nigeria 4-4 in AFCON Qualifier

0

Nigeria on Friday blew a four-goal lead against Sierra Leone in the 2021 Africa Cup of Nations qualifier at the Samuel Ogbemudia Stadium in Benin.

The game started on a bright note with both sides charging for goals but Nigeria was the better side in the opening 30 minutes.

The Super Eagles hit the ground running in the encounter when Everton star Iwobi opened the scoring, firing home a fine strike from the edge of the box.

Sierra Leone came close to level proceedings in the 20th minute but missed the glorious opportunity and seemed to pay for the missed chance when Nigeria a doubled their lead two minutes later.

A brace from Alex Iwobi and strikes from Victor Osimhen and Samuel Chukwueze gave the Super Eagles a deserving lead into the interval.

The Eagles dominated the opening minutes of the encounter but failed to create a clear chance to score until the fourth minute when Iwobi fired in a tame strike from the edge of the box to give Gernot Rohr’s side the lead.

Leon Balogun, William Troost-Ekong, Kevin Akpoguma and Zaidu Sanusi formed a four-man defence while Oghenekaro Etebo and Joe Aribo, who missed the Super Eagles friendlies in October due to injury problems were handed starting roles, combining with Iwobi in the midfielder.

For Sierra Leone, Mohamed Kamara, Umar Bangura and Quee were included in the starting line up as coach John Keister aims to get their qualifying campaign back on track.

Sierra Leone came close to level proceedings in the 20th minute but missed the glorious opportunity and seemed to pay for the missed chance when Nigeria a doubled their lead two minutes later.

Osimhen connected with a fine cross from Sanusi and hit his effort into the back of the net beyond the reach of the Leone Stars goalkeeper Kamara.

The Super Eagles continued to dominate proceedings and Iwobi got his second in the encounter when he lofted his effort past Kamara in the 27th minute.

The second-half continued in a similar fashion as the Super Eagles continued their domination and Chukwueze came close to scoring his second but was ruled offside.

Nigeria’s coach Rohr introduced red-hot Leicester City forward Kelechi Iheanacho for Musa while West Bromwich Albion centre-back Semi Ajayi was brought on for Balogun in the 65th minute.

Sierra Leone, however, pushed for a comeback with Kamara reducing the deficit in the 72nd minute before Bundu scored the third for the Leone Stars eight minutes later.

Nigeria is still on top of Group L with seven points,