The COVID-19 pandemic and the sweeping government action to curtail its effects across the globe has disrupted global supply chains and may continue to do so for quite some time. These constraints will strain project development timelines across the renewable energy industry ...
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 ...
On March 20, 2020 the National Hydrocarbons Commission (CNH) published in the Federal Official Gazette an administrative resolution declaring the suspension of all terms and proceedings before such authority from March 23 to April 19, 2020. As per the resolution issued by CNH, all terms applicable to administrative procedures before CNH shall be extended and will continue running on April 20, 2020 ...
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
By means of Circular No. 4007 of 25 March 2020, the Ministry of Mines and Energy set out some considerations on the understanding of paragraphs 13 and 25 of Article 3 of Decree 457 of 2020, by which the National Government ordered the preventive isolation of all inhabitants of Colombia for a period of 19 days. Paragraphs 13 and 25 refer to exceptions to the restrictions on freedom of movement ...
Several state and local governments have issued “shelter in place” orders and undoubtedly more will follow. All have various exemptions for “essential businesses” and many rely on exemptions outlined in the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (“CISA”) guidance on critical infrastructure workers ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
In IRS Notice 2020-18, the IRS extended the deadline for specified U.S. federal income tax payments and federal income tax returns due April 15, 2020 to July 15, 2020.IRS Notice 2020-18 supersedes IRS Notice 2020-17 which only extended the deadline for specified tax payments (see our prior coverage here). The extension applies to any person with a federal income tax payment and/or federal income tax return due April 15, 2020 ...
On Wednesday, March 18, 2020, the Department of the Treasury issued Notice 2020-17, postponing payment deadlines for many taxpayers in order to grant some amount of relief to businesses and individuals amid the Coronavirus/COVID-19 crisis. The Notice provides many taxpayers with the ability to defer federal income tax payments otherwise due by April 15, 2020, but does not postpone or alter the April 15 filing deadline or estimated payments due June 15, 2020 ...
At the end of February 2020, the Minister of Energy and Mineral Resources (MEMR) issued Regulation No. 4 of 2020 (Reg. 4/2020), as a second amendment to MEMR Regulation No. 50 of 2017 on the Use of Renewable Energy for the Provision of Electric Power which was initially amended through MEMR Regulation No. 53 of 2018 (“Reg. 50/2017”). Reg ...
On March 20, Treasury Secretary Steven Mnuchin announced by tweet that the April 15 deadline for filing tax returns will be postponed to July 15: "At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties." Later on March 20, the IRS published Notice 2020-18 to memorialize the extension ...
U.S. Treasury Secretary Steven Mnuchin announced Friday on Twitter that the U.S. will extend the tax filing deadline of April 15, 2020 for 2019 individual and business tax returns until July 15, 2020. Earlier this week, the Internal Revenue Service announced that the payment deadline for any 2019 individual income tax due, including 2020 first quarter estimated payments due April 15, 2020, was deferred until July 15, 2020 ...
To mitigate the economic impact of the Coronavirus (COVID-19) pandemic, certain extraordinary measures have been taken in the field of taxation. The aim of these measures is to ensure the cash flows of companies and to allow some flexibility in complying with tax obligations and in the payment of taxes by companies and individuals ...
In response to the severe public health emergency and the economically-damaging nationwide confinement measures triggered by the Covid-19 (“Covid-19”) outbreak in Italy, on 17 March 2020 the Italian government has adopted Law Decree #CuraItalia1 (the “Decree #CuraItalia”) ...
Payments of tax and penalties falling due between 8 March and 31 May 2020 arising out of tax assessments issued by the Italian Tax Authorities, the National Social Security Agency (INPS), the Italian Customs Agency and by Regional and Local Authorities, and any other enforcement claims aimed at collecting tax revenues, must be made in a single instalment by 30 June 2020. Payments made before the issuance of the Decree cannot be reimbursed to the taxpayer ...
We invite you to read our news alert about the State of Catastrophe declared by the Chilean government and the economic measures announced today by the country's Ministry of Finance to face the covid-19 pandemic. A) State of Catastrophe is declared in Chile: Below, please find a summary of the main consequences of the “State of Catastrophe” decreed by H.E. the President of the Republic of Chile: I. Background. On 18 March 2020, H.E ...
