TAX MATTERS: Covid-19 vaccines tax treatment

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THE lockdowns, which many governments have put in place since the emergence of the Covid-19 pandemic, have placed involuntary trade embargoes within or without their national borders and this has had a severe economic impact especially on establishments relying on actual customer contact.
These are also threatening the livelihood of the low-income earners. There is no doubt that the regulations were completely necessary and unavoidable for the immediate protection of people’s health.

Although some nations continue to impose restrictions, the distribution of the vaccine is giving the world hope in the absence of a universal cure for Covid-19. It is this vaccine that many businesses and societies at large are pinning their hopes on for now, for the return to normalcy. With this mind, some businesses especially those requiring customer contact to survive are pressing their governments for the compulsory administration of the vaccines on everyone.