The IRS issued a notice offering a special two-month deferral for federal income tax payments and federal income tax returns that are due April 15, 2020 (Notice 2020-18) (see our recent alert). This relief applies to all taxpayers, without requiring a written form (for example, no form 4868 or 7004 is required); the relief applies to individuals, trusts, estates, partnerships, LLCs, associations, and corporations ...
On March 25, 2020, the U.S. Senate voted to approve the Coronavirus Aid, Relief, and Economic Securities (CARES) Act, an economic stimulus package addressing the impact of the COVID-19 pandemic (the “Act”). The U.S. House of Representatives is expected to approve the Act in its current form, with the President signing it into law shortly thereafter ...
Businesses in need of capital may find themselves facing foreign investment regulatory hurdles. We discuss the challenges for businesses and the potential for regulatory relief. Australia's foreign investment regime applies very broadly and captures many transactions. As businesses consider how to respond to the demands of the current COVID-19 economic environment, they may be required to go through the Foreign Investment Review Board (FIRB) screening regime ...
Due to the public health crisis caused by the Coronavirus, the Mayor's Office of Bogotá issued Decree 093 on March 25, 2020, to modify the dates to pay 2020 Property Tax and Vehicles Tax. The Property Tax for residential and non-residential properties will be due on June 5, 2020 (prior date was April 3rd, 2020) with a 10% discount or shall be paid in full by June 26, 2020 (prior date, June 19th, 2020) ...
The Tax Administration (DIAN) passed on March 25 the Resolution 0027 to establish new filing due dates for the submission of magnetic media information for taxable year 2019, as follows: Due dates for providing annual and yearly information with monthly cut-off The new due dates for submitting the magnetic media report (tax information report) referred to in Section 45 of Resolution 011004 of 2018 are as follows: Large Taxpayers Last digit of the Tax ID Prio
The General Meeting during the State of Emergency? Can it take place? And can it be convened? Do crisis measures contain an exception for meetings of the statutory organs of the company (e.g ...
Obligation of Czech employers to protect employees from coronavirusPursuant to Section 106 (1) of the Labour Code, an employee has the right be assured of occupational health and safety protection at work (hereinafter referred to as "OHS"), even during a pandemic.Regarding prevention, the provision in section 102 of the Labor Code remains paramount ...
State of Emergency Conditions What does "state of emergency" actually meanand what are the powers of the Government in the regard? Can someone claim damages incurred in relation to the state of emergency? State of Emergency With effect from 12 March 2020 at 2 pm, the Government of the Czech Republic (the “Government”) has declared astate of emergency for 30 daysfor the territory of the Czech Republic due to health threats related to the presence of coronavirus in the
Crisis measures issued after the announcement of the state of emergency List as of 14 March 2020 1. Temporary implementation of the protection of internal borders in the Czech Republic Underlying document: Government Declartion No. 197 from 12.3.2020 and extraordinary measures of the Ministry of the Interior dated 13.3.2020 Effectiveness from: 14.3.2020 od 0:00 hod. Effectivness until: 18.3 ...
With the coronavirus outbreak, attention has been focused on the Defense Production Act of 1950 (“DPA”)[1], a statute dating back to the time of the Korean War, which authorizes the President in times of national emergency to: Make direct purchases and purchase commitments of critical supplies and services; Interrupt the normal flow of goods, even when under contract, by requiring U.S ...
Last Thursday, March 19, the Government of Chile presented an Emergency Economic Plan to combat COVID19, which contains various economic and tax measures that seek to provide greater liquidity to companies, SMEs and employees. From the tax perspective, the Emergency Economic Plan considers the following measures: Suspending the obligation to make Provisional Monthly Payments (PPM) for the months of April, May and June 2020 ...
This news alert includes information on the way in which the authorization for safe passage permits shall be granted on account of the nighttime curfew that stands in Chile as of the evening of this Sunday 22 March 2020, as an additional measure to face the Covid-19 pandemic: Individual safe-passage permit Collective safe-passage permit Permanent authorization for emergency personnel Authorization for companies and people who carry out transport of goods Airport Staff Passengers
An updated version of this article is available ? On March 20, 2020, the Internal Revenue Service (IRS) and the U.S. Department of Labor (DOL) jointly issued guidance regarding the tax credits available to certain small employers who are required to provide new types of paid leave to employees under the Families First Coronavirus Response Act (Act), enacted on March 18, 2020 ...
Companies and taxpayers alike are experiencing massive liquidity shortages due to the far-reaching restrictions on the economy and on public life caused by the COVID-19 pandemic, or at least will be exposed to such a risk in the medium term. This forces them to examine, also in relation to taxes, how existing liquidity may be preserved or additional liquidity created. In addition, the question is how to deal with ongoing tax audits and what other procedural relief is available ...
I. Regulation In the context of the declaration of a State of Catastrophe, the National Customs Service (“NCS”) issued Exempt Resolution No. 1,179 dated March 18, 2020, by means of which the NCS adopted 13 measures to facilitate foreign and domestic trade operations electronically, and to protect the health of people involved in such operations ...
A dynamic platform, gathering answers to your most frequently asked questions in relation to the ongoing crisis. The content of this page will be continuously updated based on the latest news. Click here to access the Arendt Covid-19 Solutions Platform ...
A range of legislative and legal initiatives have been taken in recent days to control the spread of the SARS-CoV-2 coronavirus epidemic. How will temporary closing of borders and mandatory hospitalisation impact carriers’ liability in international transport of goods by road? Legal solutions adopted Faced with the SARS-CoV-2 coronavirus epidemic, the Polish government has decided to take drastic legal measures ...
The global health alert triggered by the spread of the new coronavirus known as SARS-CoV-2, which causes the disease COVID-19, is creating great challenges for companies. Governments around the world are tackling the situation by approving drastic measures to try to mitigate the effects of the health crisis first and the economic crisis second ...
We have been in the UAE helping clients manage and survive crises for 45 years, and these are unprecedented times in our lives. We will have to work together to overcome the challenges brought about by the COVID-19 pandemic, and we at Afridi & Angell are ready to do our part. Until the end of March, we will offer free advice on legal issues affecting companies and employers as a result of the COVID-19 pandemic ...
Following the publication of the proposal a few days ago, on 19 March the European Commission adopted the communication introducing a new temporary legal framework for State aid measures to support the economy in the current COVID-19 outbreak1. The last time the Commission had adopted a similar temporary framework was during the global financial crisis in 2008 ...
Regarding the State of Catastrophe and sanitary alert decreed in Chile in the face of the COVID-19 pandemic, on Sunday 22 March 2020, the Chilean Government announced the following 12 measures: Strict quarantine for the extreme-South city of Puerto Williams (except for essential cargo freighting). Strict sanitary customs in the aerial and maritime crossing to the city of Puerto Williams ...
On Friday, March 20, 2020, the Department of the Treasury issued Notice 2020-18 (which supersedes Notice 2020-17 issued two days prior), postponing tax filing and payment deadlines for many taxpayers in order to grant some amount of relief to individuals and businesses amid the Coronavirus/COVID-19 crisis ...
The Norwegian Ministry of Trade, Industry and Fisheries has adopted a new regulation exempting the transport sector from the prohibition in Section 10 of the Norwegian Competition Act; cf. FOR-2020-03-18-340. Section 10 is the national equivalent to Article 101 TFEU and 53 EEA. The new rules are set to apply for three months but may be prolonged or shortened, depending on how the ongoing covid-19 pandemic evolves ...
The aviation industry came to a standstill this month due to the outbreak of the Covid-19 virus, and this has hit the airlines worldwide. With the majority of the fleet on the tarmac, we could potentially see a number of airlines defaulting on their lease agreements and loan facilities. The question of how to enforce security or repossess an aircraft could sadly turn out to be something the lessors and the lenders would have to look into more closely in the time to come ...
