That Coronavirus (i.e. Covid-19) has an economic impact on many entrepreneurs and businesses is a fact. The question is how to deal with it business wise. Which measures have you taken and which could you possibly take. Are the measures within the Law. Hereinafter we provide you with some questions
companies are dealing with right now.
¨ Can the Coronavirus be considered a force majeure?
¨ Is a sudden implementation of a reduction of the working hours allowed?
¨ Can companies force employees to take a vacation now?
¨ Is a reduction in the salaries of employees allowed as of a change of the working hours?
¨ Can companies fire employees at this moment who refuse to work due to the fear of Coronavirus at the Office/workplace?
¨ Do companies need to pay out sick leave?
¨ Should companies have a health insurance for their employees?
¨ What are the legal consequences of sudden changes in employment agreements and/or any other agreements?
¨ What are the legal consequences to cancel signed agreements?
¨ What are the possibilities to postpone the filing of the tax returns including payments?
¨ What are the possibilities to form a tax provision due to unforeseen costs?
¨ What are the possibilities to provide some additional specific cost allowances/ benefits to your employees or on the contrary to lower the amount of some cost allowances?
¨ Should you continue paying the same corporate income tax instalments if you are expecting lower revenue in 2020 due to the Coronavirus? Or can you lower the taxable profit presented on the preliminary corporate income tax return 2020?
Are you dealing with questions and/or any other measures due to the Coronavirus?
We will be happy to provide you with our legal and tax advice on – additional and/or new – measures you’re dealing with due to the Coronavirus.
Nevertheless, the health of you and your employees is – above all – the number one priority, so please take the necessary precautions in any situation and/or place.
All our advisory staff is working from home. We have a skeleton crew of support staff working at the office to take care of certain client logistics. We have not spared any measures to protect the health of our team. However, our service provision will not be hindered by these measures.
Be safe and should you have any questions, please feel free to contact us.