Latest news & developments
COVID-19 impact: how to quickly resolve bottlenecks with automation technologies?
Breaking processes and overwhelmed help lines with chatbots and other digital technologies. COVID-19’s impact has surprised all and very few can claim they were fully prepared. The news and updates are rolling and government measures are continuously being updated. What about putting people in technical unemployment with a special premium system? Great idea, but
Temporary unemployment and group insurance – points of attention
The Belgian system of temporary unemployment is – as a result of the coronavirus pandemic – currently being used by more employers than ever before. It’s, however, essential to make sure there are no unintended consequences as a result of deploying temporary unemployment in the company. Against that backdrop, it’s important to point out that
COVID-19: a multi country overview of supportive measures
The continued spread of the coronavirus (COVID-19) is forcing governments to take drastic measures to take back control over the human impact of COVID-19 and reduce the number of contaminations. There is no doubt that this pandemic is equally having a detrimental impact on the global economy. Throughout the world, countries take a multitude of
European Commission adopts temporary State aid framework enabling EU Member States to support their economies during the COVID-19 crisis
The European Commission adopted a temporary framework setting out the possibilities for EU Member States to support the economy during the COVID-19 crisis on 19 March 2020 under the European State aid rules. Such framework set outs the possibilities under which EU Member States can enact legislation and take actions to provide state support to
COVID-19 #3 The tax challenges of changes to existing financing terms
As central banks are – among other things – cutting interest rates in an attempt to limit the economic fallout from COVID-19, companies may consider refinancing older debt that still yields higher interest rates. However, such a refinancing exercise may come with unforeseen tax consequences if not properly managed. Apart from a refinancing, groups may
COVID-19: a multi country overview of supportive measures
The continued spread of the coronavirus (COVID-19) is forcing governments to take drastic measures to take back control over the human impact of COVID-19 and reduce the number of contaminations. There is no doubt that this pandemic is equally having a detrimental impact on the global economy. Throughout the world, countries take a multitude of
Fast Track Ruling – Homeworking (Expense Allowance)
Employees incur expenses that are inherent in the performance of their duties in their relationship with an employer. Accordingly, due to their nature, such expenses are to be borne by the employer. The employer, i.e. the company, can ask the Ruling Office (Dienst Voorafgaande Beslissingen/Service des Décisions Anticipées) for confirmation that the lump sum allowances
COVID-19 #2 Debt-equity swap to restore your equity position
In the context of the economic downturn caused by the corona crisis, companies may seek for (different) ways to restore their equity position. Previously, we explored intragroup debt waivers as a remedy to alleviate financial distress (click here). Another approach that may be considered is the contribution in kind of existing intercompany (or third party)
