In support of the Government's mandate in assisting the development of small sized businesses, Cabinet has approved that the Tax Invoice Monitoring System (TIMS) will not apply to businesses with an annual turnover of less than SAT$200,000 tala.
Amendment to IFRS 16 Leases Paragraph 46B is amended. Paragraphs C1C and C20BA–C20BC are added. New text is underlined and deleted text is struck through.
Subsequent measurement ...
Lease modifications ...
The practical expedient in paragraph 46A applies only to rent concessions occurring as a direct consequence of the covid-19 pandemic and only if all of the following conditions are met:
Auditors are prime candidates for burnout, but some accounting firms are dealing with mental health head on.
- Auditors are at risk of burnout due to the constant nature of the job.
- COVID-19 has shone the spotlight on mental health across the accounting profession.
- Restructuring workflow may help mid-tier firms reduce the burnout risk.
SHOULD SAMOA ADOPTS THE USA COVID RELIEF GRANTS FOR BUSINESSES AND PEOPLE WITH SEVERE IMPACT. ALTHOUGH FACING THE CRISIS, THE NPF 10% INCREASE CONTINUES!
SBA debt relief
SBA offers debt relief to existing SBA loan borrowers whose businesses have been impacted by COVID-19.
Paycheck Protection Program
An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis.
COVID-19 Economic Injury Disaster Loan
This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
Ministry of Finance in partnership with Samoa Chamber of Commerce Wage Subsidy Scheme Fact Sheet Overview:
Wage subsidy will be available for Employees in the affected Tourism and Hospitality/Manufacturing Industries who are struggling to retain employees because of Covid 19.
The Wage subsidy is to be distributed via the Employers to affected employees. Amount of support: Universal wage subsidy to all affected Employees from the Tourism and Manufacturing sector affected by Covid 19.
A paid out flat rate approved and decided by the Ministry of Finance. Read More PDF File
CARES Act for all Amercans – Isn’t is Brilliant!
To provide emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.
Coronavirus Aid Relief & Economic Security Act (CARES) provides for all and considered it a fair distribution to all Americans that contributes to the FICA and development of America. Couples earning less than $75,000USD are entitled to $1,200USD per month for the next 6 months.. Inter alia other benefits such as loan forgiveness for payroll bridging funds etc.
I applaud the foresight by Trump and his administration and thank you for the EIP payment.
The COVID-19 pandemic and the government interventions to mitigate its effects have both immediate and on-going financial impacts. The nature and scale of these interventions vary
widely across jurisdictions, as will their longer-term impacts. However, the significant fiscal interventions launched by many governments mean that high-quality accrual-based financial
reporting is needed now, more than ever, as it provides better information for decision-making, improves transparency on how public resources are used, allows citizens to hold decision
Ten emerging business and tax impacts from coronavirus (COVID-19)
Coronavirus is proving a particularly difficult challenge for many Australian and most likely global businesses given lingering uncertainty on the duration and extent of the outbreak, says Michael Croker, Australian Tax Leader at Chartered Accountants ANZ.
Tagaloa Fa'afouina Su'a inducted in the college of Chartered Accountants (CA) for Chartered Accountant Australia & New Zealand (CAANZ) last night at a ceremony held Cordis Hotel in Auckland CBD.
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