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Fri, 05/21/2021 - 1:41pm tim
by Timothy McQuiston, Vermont Business Magazine Regular weekly unemployment claims fell dramatically to pre-pandemic levels the last two weeks as the Vermont Department of Labor was able to eliminate the vast bulk of fraudulent claims by requiring new claimants to call the department directly. As the VDOL discovered, and other states have realized, criminal operations were barraging online systems with false claims. Also, the work search system technical issue at VDOL that surfaced on May 16 is now resolved. The Vermont work search requirement for unemployment insurance filers was reinstated on May 9.
Meanwhile, the Legislature is on the verge of removing 2020 from the unemployment calculation. If they hadn t, rates to employers would have escalated and the UI Trust Fund would have unnecessarily ballooned. Commissioner Michael Harrington had urged the Legislature to change the law regarding how employers are charged to meet the UI Trust Fund obligati
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Vanguard News
Company Income Tax rises in Q1’21
On
By Elizabeth Adegbesan
The Federal Government generated N392.77 billion as Company Income Tax (CIT) in the first quarter of this year (Q1’21).
This represents a 33 percent quarter-on-quarter (QoQ) increase in CIT when compared with N295.7 billion generated in Q4’20.
In its CIT by Sector Report for Q1’21 released yesterday, the National Bureau of Statistics (NBS) said that the CIT generated in Q1’21 comprises N152.33 billion generated locally and N184.59 billion generated as foreign CIT payment. The balance of N55.85 billion was generated as CIT from other payments.
The report stated:”Data on CIT breakdown by sectors for Q1’21 reflected that the sum of N392.77 billion was generated as CIT as against N295.72 billion generated in Q4’20 and N295.68 billion generated in Q1’20, representing 33 percent increase QoQ and 33 percent increase Year-on-Year (YoY).