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#Corona #Company #Economic impact #Force majeure #Taxes #Delay of payment

Frequently asked questions concerning the consequences of the Coronavirus crisis for your business

Monday 16/03/2020
Corona FAQ

The Coronavirus, officially referred to as COVID-19, will force us to drastically change not only our way of life, but also our way of working. The government's safety measures are not just having grave consequences for the hospitality and retail sector, other sectors are also feeling the impact and facing major challenges. More than ever before, reliable information, clear communications, flexibility and anticipation are paramount.

Obviously, this unprecedented situation raises a lot of questions. We are closely monitoring the situation and keeping you informed. Below are some answers to several frequently asked questions. Do not hesitate to contact us, however, should you have any further questions. We are here to help you.

Financial measures

Federal

  1. What new measures have been taken in the banking plan of 22 March?
  2. Can I also get a postponement for the payment of my insurance policies?

Flanders

  1. Do I qualify for the crisis guarantee scheme?
  2. Will I be reimbursed if I am forced to close my business?
  3. Am I still entitled to the premium if I switch from restaurant to takeaway in order to provide some form of income?
  4. Will I have to pay tax on the compensation premium?
  5. What if I received subsidies from VLAIO, but am unable to meet my payment deadlines?
  6. Can I get an employee incentive?

Brussels and Wallonia

  1. I am based in the Brussels or Walloon Region. What is the situation concerning support measures there?
Fiscal

Deferment of payments and declarations

  1. As an entrepreneur, am I entitled to postponement of payment in times of Corona?
  2. Is there also an automatic deferral to pay my tax debts?
  3. Can I donate relief items without adverse tax implications?

VAT

  1. Can I get a postponement for filing my VAT return or corp. income tax, pers. income tax and non-resident corp. income tax return?
  2. I am forced to close my restaurant, which is why I will be selling takeaways from now on. What is the situation concerning VAT on takeaways?
  3. Perishable goods are lost as a result of customer closures or declines, what about VAT?

International employment

  1. I work abroad but due to the Coronavirus measures I will be abroad for fewer days than planned. What is the situation regarding the taxation of my allowance?
  2. Am I at risk of a permanent establishment due to my employee teleworking in his country of residence?

Income taxation

  1. Can I get an additional allowance for working from home?
  2. Can I book write-downs on receivables as a result of the Corona crisis?
  3. Can a (commercial) tenant suspend payment of the rent on the grounds of force majeure?
Legal
  1. Can you as a business invoke force majeure with respect to your own customers if your supplier no longer delivers?
  2. Can an event be cancelled at any time because of the Coronavirus?
  3. How can companies manage potential cash flow problems?
  4. I want to go to the notary this month for a deed. Is this still going on? 
  5. Does the Corona crisis also affect your asset and inheritance planning?
  6. How can I organize the general meeting in times of social distancing?
Staff
  1. Can employers impose compulsory homeworking?
  2. Can employers force their employees to take leave/holidays?
  3. What if healthy employees are unable to work because of the Coronavirus?
  4. Can I invoke temporary unemployment for my employees due to economic circumstances?
  5. Temporary unemployment due to force majeure may be invoked for medical reasons
  6. What about temporary unemployment due to force majeure?
  7. Can I defer payment for payments owed to the NSSO?
  8. Under what conditions can I obtain a repayment plan from the NSSO?
  9. Is it possible to supplement the NEO benefit for temporary unemployment?
Subsidies
  1. What measures are in place for the social economy as a result of COVID-19?
  2. Can I suspend my ESF project?
  3. Can I apply for the SME growth subsidy for my company following the Corona crisis ?
Self-employed persons
  1. As a self-employed person who (voluntarily) ceases activities, am I also entitled to compensation from Corona?
  2. I am self-employed and my income is decreasing due to the Corona crisis, do I still have to pay my social security contributions?
Contact one of our experts
Bert Lutin
Bert Lutin
Partner Tax & Legal Services
An Lettens
An Lettens
Partner Tax & Legal Services