OECD guidelines: COVID-19 impact on cross-border employment
In our newsflash of 13 March 2020, we highlighted that since the COVID-19 outbreak, due to travel restrictions and quarantine measures, many companies find themselves confronted with unforeseen and forced changes in the working pattern of their employees who are unable to perform their duties in their “normal” country of employment, especially in surrounding countries
Following the right procedures more important than ever when in financial distress
As the spread of Covid-19 undoubtedly has a huge impact on the economy, a significant number of companies will very likely be confronted with losses, possibly putting the going-concern of their business into question. Besides the necessary disclosure in the annual management report so as to reflect and elaborate on such impact in the “post-closing”
COVID-19 #7 Carve-out and sale of non-core or distressed businesses
In the current climate, it is expected that companies in a wide variety of industries will be confronted with a significant drop in sales volumes, possibly causing faltering cashflow positions or even cash crunches. Although the Belgian government, in concertation with financial institutions, are trying to stem the bleeding with short term measures, such as
Belgian Minister of Finance proposes Corona premium of EUR 1.000
In practice and also in recent media coverage, the question was raised whether employers/companies can provide employees with a (tax beneficial) cash incentive – other than a regular bonus payment – in order to motivate and reward employees who (are not staying at home due to temporary unemployment measures and who) are still allowed and
