Shocks & extreme events

Norway: Tax developments in response to COVID-19 -

Submitted by mmarquez on

KPMG Global (01.05.2020) To reduce costs and improve cash flow immediately, social security contribution rate will be reduced with 4 percent of the total contribution rate of 14.1% assumable for the salary payments in May and June.  Some areas in Norway pay 0%. These areas will receive a subsidy equal to 4 % of the employer social security contribution base. 

Regions / Country
norway
Global challenges
Topics
Contribution collection and compliance
Document Type

India: Reduced EPF contribution for 3 months

Submitted by mmarquez on

conomictimes.indiatimes.com (15.06.2020) The Employees' Provident Fund Organisation (EPFO) will reduce its EPF contribution rate from 12 per cent to 10 per cent for both employers and employees for the months of months May 2020, June 2020 and July 2020. It is applicable to all class of establishments covered under the EPF & MP Act, 1952 except the establishments like Central and State Public sector enterprises or any other establishments owned or controlled of the Central govt or State govt.The reduced rate is also not applicable to establishments eligible for PMGKY

Regions / Country
india
Global challenges
Topics
Old-age pensions
Contribution collection and compliance
Document Type

Czech Republic: Late Employer SS Contribution Penalty Relief

Submitted by mmarquez on

KPMG Global (27.05.2020) Reduction in the penalty for late payment of social security contributions payable by employers in the amount of 24.8 percent of their employees’ wages (employer’s contributions) for the calendar months of May to July 2020. If the contributions due for these months are paid by 20 October 2020, the employer will be required to pay only 20 percent of the standard penalty for late payment stipulated by the Insurance Premiums Act.2 The reduced penalty will thus correspond to approximately 4 percent interest rate per annum.

Regions / Country
czech republic
Global challenges
Topics
Contribution collection and compliance

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Document Type

Guernsey: The Policy & Resources Committee agrees to continue financial support measures for worst hit sectors

Submitted by cambrosio on

covid19.gov.gg (14.09.2020)

The Policy & Resources Committee has agreed to continue the payroll co-funding scheme for the most impacted sectors and businesses until the end of 2020, having previously been extended to the end of September. However, there will be a further reduction of those eligible for support once the island moves into phase 5c of its exit from lockdown strategy. While no date has been decided to move to phase 5c, it is expected within the period of this three month extension to States funded support.

Regions / Country
Guernsey
Global challenges
Topics
Cash transfers
COVID-19
Document Type

Saint Lucia & WFP Partner to Expand Coverage of the Public Assistance Programme as Part of the National COVID-19 Response

Submitted by cambrosio on

jointsdgfund.org (10.09.2020)

The United Nations World Food Programme (WFP) signs a Memorandum of Understanding (MOU) with the Government of Saint Lucia to support an expansion of the nation’s Public Assistance Programme (PAP) by 1,000 households as part of the nation’s 2019 coronavirus (COVID-19) response.

Regions / Country
Saint Lucia
Global challenges
Topics
Social assistance
Cash transfers
Document Type

Belgium: Corona temporary unemployment after September 1, 2020

Submitted by siha on

capac (22.09.2020) Since September 1, 2020, the rules for temporary corona unemployment have changed.  Only sectors and companies recognized as particularly affected can apply for temporary corona unemployment until December 31, 2020. You can therefore only submit a request for temporary unemployment for corona force majeure if you are working for the employer's account: which falls within a sector particularly affected by the coronavirus crisis  whose company is particularly affected by the coronavirus crisis.

Regions / Country
belgium
Global challenges
Topics
Unemployment
Extension of coverage
COVID-19
Document Type

Argentina: Reduction and postponement of social security contribution payment

Submitted by siha on

OFFICIAL BULLETIN REPUBLICA ARGENTINA - General Resolution 4788/2020 (04.08.2020) The postponement or reduction of up to 95% of the payment of employer contributions to the Argentine Integrated Pension System. Certain employers will enjoy the benefit of postponement of the expiration date for the payment of employer contributions to the Argentine Integrated Social Security System for the period accrued in March, April, May, June and July 2020.

a) Accrued in March 2020: from June 9 to July 31, 2020, inclusive.

Regions / Country
argentina
Global challenges
Topics
Extension of coverage
Contribution collection and compliance
COVID-19
Document Type

Hungary: Social security relief for employers

Submitted by mmarquez on

KMPG (15 March 2020) Modified social security rules are to apply for the period of March-June 2020 for certain sectors—the hospitality and tourism sector; entertainment, film industry, and performing art sector; the sport services sector; the event organization sector; and the gambling section. The changes provide that employers in these sectors will not be liable to pay the employer part of social security contributions (17.5% + 1.5%) with respect to employment income paid to employees for the period March-June 2020.

Regions / Country
hungary
Global challenges
Topics
Health insurance
Contribution collection and compliance

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Document Type