The Covid-19 pandemic situation has emerged as more than just a healthcare crisis. Accordingly, the focus is to address and anticipate at the same time the economic and social implications which are still at an early stage. What we are rapidly starting to acknowledge is that the circumstances created by the pandemic have revealed legislative gaps and vulnerabilities, which need to be addressed in order to avoid further negative impacts to the extent possible ...
The Convention on International Interests in Mobile Equipment (“Cape Town Convention”) and Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment (“Protocol”) were concluded in Cape Town on 16 November 2001, and entered into force on 1 March 2006. They are to be read and interpreted as one instrument ...
employment Update to C19 TERS and tax treatment of C19 TERS benefit Lauren Salt (ENSafrica Employment) and Arnaaz Camay (ENSafrica Tax) summarise the latest amendments to the COVID-19 Temporary Relief Scheme (“C19 TERS”), 2020 directive. They also consider the tax implications of C19 TERS benefits. Clickhereto read the full article ...
The Premier of the State Council Li Keqiang chaired an executive meeting on 7 April 2020 which decided to adopt a series of tax related measures to cope with the negative impact caused by the COVID-19 pandemic and to stabilise the domestic economic environment. The measures mainly include the following: 1 ...
On April 13, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-26 (the “Revenue Procedure”) providing guidance to lenders and loan servicers offering relief to borrowers with federally-backed residential and multifamily mortgage loans, including relief mandated under the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (the “CARES Act”), as well as similar state programs ...
The government has started the announce the dismantling of certain Covid19 measures and from Monday, April 27, 2020, itnow allows business trips for foreigners to the Czech Republic, in respect of which entrepreneurs have been repeatedly demanding. However, it set a number of conditions and rules ...
Below is a summary of new developments and key new measures that have been implemented by various UAE authorities since 19 April 2020 and the time of this inBrief, 6:00 p.m. on Saturday, 25 April 2020.I. First Phase of Easing of Lockdown and Movement Restrictions in DubaiThe Supreme Committee of Crisis and Disaster Management has announced a partial reduction in the restrictions on movement in Dubai starting from Friday 24 April 2020 ...
It is evident that the current lockdown is having an unprecedented slowdown in the movement of persons between EU Member States. This is not due to a restriction which was imposed by the EU itself but because of the restrictions which the Member States themselves imposed through their respective Public Health officials. It is noticeable that the legal restrictions on immigration were driven by the Member States' individual rules rather than by a general guideline from the EU ...
In light of President Ramaphosa’s announcement of a phased approach to the end of lockdown, many businesses will still be required to remain closed (or partially closed) after 30 April 2020. With this in mind, many employers will still require assistance from the Coronavirus (COVID-19) Temporary Relief Scheme (“C19TERS”) ...
On 23 April 2020, the Municipal Court in Prague issued a judgment upholding the petition for annulment of certain measures of the Ministry of Health issued in connection with the COVID-19 pandemic. With effect from 27 April 2020, the Court annulled two extraordinary measures of the Ministry of Health of 17 April 2020 and 26 March 2020 on the restriction of retail sales and two extraordinary measures of the Ministry of Health of 15 April 2020 and 23 3 ...
The new COVID Prague program focused on business activities in the Capital City of Prague followed the fate of its predecessors COVID I and COVID II. This means that the available funds were exhausted on the same day as the receipt of applications, which thus ends. The COVID I and COVID II programs are also exhausted. Entrepreneurs thus have no choice but to wait for the announcement of the conditions of the COVID III program ...
The Ministry of Finance proposes the abolition of a 4 percent real estate acquisition tax. The proposal will be discussed on Friday 17 April by the Coalition Council of the Government and the National Economic Council of the Government (NECG) ...
The Government recently approved the amendment of the Compensation Bonus Act. This Act, which was published in the Collection of Laws on 14 April 2020, and, with effect from 15 April 2020, introduced another instrument of support for self-employed persons whose business was negatively affected in connection with coronavirus. This extends the period for which the self-employed will be able to claim a bonus ...
This is a briefing on the following issuances as of April 19, 2020 in relation to the COVID-19 pandemic: A. Extension of Periods for the Filing and Submission of Various Documents and Payment of TaxesB. Mandatory Disclosure of Personal Information of COVID-19 Patients C. Securities and Exchange Commission (SEC) Issuances D. Bangko Sentral ng Pilipinas (BSP, the Central Bank of the Philippines) Issuances E. Insurance Commission (IC) Issuances F ...
The DIAN issues Circular 06 of 2020 clarifying aspects related to the abbreviated processes of balances in favor refunds. The DIAN issued Circular 06 of 2020, which clarifies aspects related to the process of abbreviated refund established by Decree 535 of 2020. In this vein, the Circular indicates that until the end of the health emergency, the list of costs, expenses and deductions should not be attached to the request for summary refund ...
The DIAN issued Internal Circular No. 13 of April 18, 2020, establishing guidelines on the administrative processes to be carried out by the entity during the health crisis caused by COVID-19 ...
The Government postponed the filing due dates for the tax and other measures were taken in order to help the tourism sector. Due to the crisis generated by the COVID-19, the Government established through Decree 557 of 2020, that companies that provide international air passenger transport services, will have until October 30, 2020, to submit and pay the National Tourism Tax, corresponding to the first and second quarter of 2020 ...
Decree No. 553 establishes a tax measure for taxpayers subject to the presumptive income regime On April 18, 2020, Decree No. 553 was published, which, in addition to Decree No. 420 , extends the deadline for taxpayers subject to the presumptive income tax system to exercise the option to pay taxes on income obtained during 2019, on the basis of effective income determined under full accounting. The deadline is extended until 31 July 2020 ...
Panama, April 6, 2020. On Tuesday March 24th, 2020, the Executive Decree 251 of the same date was published in Official Gazette 28987-A which adopts tax measures to relief the economic effects of the National State of Emergency ...
The SAT, Superintendecy of Tax Administration, has recently published the new procedure to request payment plans (agreements), via email. The procedure goes as follow: 1. Taxpayer should send an email to the email address correspondent to his fiscal address and region: Central Region: [email protected] Occidental Region: [email protected] Northeast Region: [email protected] South Region: [email protected] ...
Requirements have been made more flexible so that taxpayers can deduct expenses for losses By means of Supreme Decree No. 86-2020-EF, published today, the requirements for the deduction of expenses due to loss of stocks have been made more flexible ...
