COVID-19: no general “force majeure” tolerance for cross-border employment
In our newsflash of 13 March 2020, we highlighted that since the COVID-19 outbreak many companies find themselves confronted with questions regarding unforeseen and forced changes in the working pattern of employees who perform activities in surrounding countries (such as Luxembourg, The Netherlands, Germany and France). One of the main questions that arises is whether the
COVID-19 update: Circular letter on exemption conditions for write-downs on trade receivables
Aware of the significant impact of the pandemic on the economy, the Belgian tax authorities have very recently published an updated circular letter on the exemption conditions for write-downs on trade receivables (Circular 2020/C/45 dated 23 March 2020). In this circular letter, the tax authorities acknowledge the spread of the Covid-19 virus and the drastic
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
