The outbreak of the Covid-19 pandemic has prompted governments around the world to enact a number of support measures for businesses. For Belgium, several measures were taken by both the federal and regional governments, and include the following:
•Tax relief measures: deferment of taxes (payroll withholding tax, vat, corporation tax, real estate tax, …), exemption from late payment interests and cancellation of tax penalties;
• Tax-exempt allowances for staff working from home;
• Employers in critical sectors (e.g.: grocery retail, agriculture, …) can pay their employees up to 220 hours overtime work free of tax and social security contributions (between April 1 and June 30);
• Administrative flexibility towards tax-exempt provisions for doubtful debts for clients affected by the health crisis;
• VAT exemption and deductibility of donations of medical and protective equipment to hospitals;
• Temporary unemployment scheme (increased unemployment benefits);
• Respite for employers’ social security contributions for Q1 and Q2 of 2020;
• Activity interruption grants (e.g.: 4,000.00 EUR and additional grants of 160.00 EUR per day in Flemish Region, 5,000.00 EUR in Walloon Region);
• Incentive premiums for companies to keep employees;
• Extension of existing government guarantee scheme for certain payment obligations (e.g.: social security contributions, vat debt, rent payments, salary payments, …);
• Relaxation of agreed time limits in grant agreements.
Leyton will happily provide more details on any of these government support measures, and guide you through the required application procedures. Don't hesitate to ask your case handler.
We would like to wish you, your family and your business the very best during this unprecedented time.
Stay safe and please do not hesitate to get in touch with us for any help and support you need. We are here to help!