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”) ...
1. Introduction On 18 March 2020, the Decree #CuraItalia1 introduced “measures to strengthen the national health ser- vice and economic assistance to families, employees and companies related to the epidemiological emer- gency of COVID-19” (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 ...
The main doubts of company directors about the consequences ofthe current Covid-19 pandemic in relation to insolvency, the PER, and the RERE. As a result of the spread of the Covid-19 virus, the World Health Organization declared a public health emergency of international concern (PHEIC) on 30 January 2020 and a pandemic on 11 March 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 ...
Relative to the pandemic declared by the World Health Organization due to the COVID-19 outbreak, below please find our analysis, impact and the various implications and legal effects that the spread of the so-called Coronavirus has on labor relations in Mexico ...
In the current context of COVID-19 epidemic, President of Romania issued Decree No. 195/2020 on the declaration of the state of emergency on the territory of Romania,published in the Official Journal of Romania, Part I, No. 212/16.03.2020 (the “Decree”), with effect for a period of 30 days as of its publication, which can be further extended ...
We have already entered a state of emergency pursuant to the Decree issued by the President of Romania imposing a state of emergency on the territory of Romania, published in the Official Gazette Part I no. 212 on March 16th, 2020 (the “Decree”), and we can already see the changes and reactions triggered by this situation. The state of emergency proclaimed for a period of 30 days starting from March 16th, 2020 has a far-reaching impact in all domains ...
March and April are the months during which companies generally hold their annual general meeting of shareholders (GMS) having on the agenda the approval of the financial statements, of the budget and of the business plan. The annual GMS is particularly important as it gives the opportunity for shareholders to meet and discuss directly with the management and the other shareholders on the past and future activity of the company ...
The current COVID-19outbreak and severe and numerous preventive and restrictive measures governments are continually introducing are first and foremost a global health concern. However, this situation has already caused significant distortions to businesses and their ability to perform their contractual obligations. The question of all questions seems to be if the COVID-19 pandemic is aforce majeureor not ...
Due to the developments regarding the outbreak of COVID-19 and the declaration of a state of emergency in Serbia, the National Bank of Serbia (“NBS”) undertook emergency measures to facilitate the position of citizens and businesses in servicing debts ...
On 18 March 2020, the President of Ukraine signed a new law that introduces social tax, land, and property tax incentives during the quarantine period to include tax exemptions, postponement of tax audits and possibility to postpone tax payments. By possibility of postponement we mean that statutory deadlines for payment are not changed, but payment can be delayed with no penalty and interest ...
Tips on how to mitigate losses: Mall Leases: Mall leases have ceased to be in the nature of a tenancy agreement. The clauses are no longer limited to availability of the premises, rent, lock-in period, repairs, and exit. Mall owners have come to impose sale targets on the retailers operating from their malls. Rent consists of both a percentage of the revenue earned by the retailer as well as a fixed monthly payment ...
In order to mitigate the effects of the declaration of a State of National Emergency and provide resources to taxpayers, the following provisions have been published in the Special Edition of The Official Gazette El Peruano, on March 18, 2020: Tax deferrals and/or fractions.- Through Superintendence Resolution No ...
On March 18, 2020, Governor Cuomo signed a bill to provide immediate assistance to New Yorkers impacted by COVID-19.The act provides paid and unpaid leave to employees “subject to a mandatory or precautionary order of quarantine or isolation issued by the state of New York, the department of health, local board of health, or any governmental entity duly authorized to issue such order due to COVID-19 ...
In IRS Notice 2020-17, the IRS extended the deadline for certain U.S. federal income tax payments due April 15, 2020 to July 15, 2020, up to certain limits depending on the taxpayer. IMPORTANTLY, as of now,this extension does not apply to the filing of any tax return or information return.All tax returns and information returns due on April 15, 2020 are still due on April 15, 2020 unless the due date is extended as provided by law ...
On March 18, 2020, President Trump signed into law the Families First Coronavirus Act that aims to provide emergency supplemental relief to Americans affected by the novel coronavirus (COVID-19) outbreak.The Act, among other things, aims to provide such relief by addressing three employment-related areas: (1) emergency paid sick leave to employees, (2) emergency leave under the Family and Medical Leave Act, and (3) support for unemployment insurance ...
In accordance with the CDC’s guidance on social distancing, more and more companies are increasing the number of employees working from home. As the number of employees working from home increases, so do the related cyber risks. Sophisticated hackers have developed a game plan for exploiting weaknesses unique to the remote workforce employment model ...
According to press reports, most Germans are willing to accept limitations on the extent of the protection of their personal data vis-à-vis public authorities and agencies in order to tackle the coronavirus crisis. However, that alone is not an adequate justification for measures that employers may take during a coronavirus pandemic to prevent an outbreak in their company ...
In connection with the coronavirus, prices for transport services have increased, in some cases very considerably, such as when a reduction in freight space necessitates rebooking and rescheduling. Not everyone, and not even all commercial customers, may be aware of these price increases. It is also questionable whether corona-related additional costs may always be deemed usual remuneration (Section 632 German Civil Code) ...
While the coronavirus continues to spread, the German Federal Financial Supervisory Authority (“BaFin”) also published a document on the Minimum Requirements for Risk Management (“MaRisk”) for credit and financial services institutions on March 12, 2020, in which it addresses the issue of activities outside business premises and risk management in the trading sector from a regulatory perspective ...
On March 4, 2020, Governor Newsom declared a State of Emergency in the State of California as a result of the threat of COVID-19 ...
