economic crisis

Greece: Joint Press Release of the Ministry of Finance and the Ministry of Labor Social Affairs/ Rent reduction

Submitted by siha on Fri, 11/06/2020 - 16:20

Ministry of Finance (16.10.2020) Companies based in a Regional Unit that is part of level 4 for at least 14 days and are significantly affected according to the expanded list of KAD April, including scientific disciplines, are entitled to a mandatory rent reduction of 40% on their commercial real estate. The same applies to the main and student residence of suspended employees. For the owners who rent real estate in these companies and the above employees, 1/3 of the loss is offset against their tax liabilities.

Regions / Country
greece
Topics
Housing
Employment
Financing
Covid-19
Financial crisis
Document Type

Australia: Temporarily reducing superannuation minimum drawdown rates

Submitted by siha on Thu, 08/06/2020 - 11:23

Australian Taxation Office (29.07.2020) The government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20 and 2020–21. This measure will benefit retirees holding these products by reducing the need to sell investment assets to fund minimum drawdown requirements.

Regions / Country
australia
Topics
Old age Pensions
Covid-19
Financial crisis
Document Type

Réunion: Regional safeguard fund

Submitted by siha on Mon, 07/27/2020 - 17:23

Réunion Region (18.05.2020) This fund is part of a principle of subsidiarity, in addition to the other mechanisms operated by the State and the local authorities, and must allow “last resort” intervention. It is therefore mobilized if: • the applicant does not have access to a bank loan or to other support tools offered by the State, the Region (rebound loan) or other communities, • the other support tools did not meet the cash flow requirements.

It is an Advance of 10,000 € - repayable in 3 years, including 1 year deferred No Guarantee - Interest rate = 0%

Regions / Country
Réunion
Global challenges
Topics
Shocks & extreme events
Covid-19
Financial crisis
Document Type

Mexico: Mexico Providing Simplified Social Security Installment Plans for COVID-19

Submitted by siha on Fri, 07/10/2020 - 15:21

Orbitax News (10.07.2020) Mexico's Social Security Institute has announced a simplified installment plan scheme for employers facing difficulties in paying their social security contributions due to COVID-19. Under the scheme, employers may make up to 48 monthly installments, subject to monthly interest as follows:

Regions / Country
mexico
Global challenges
Topics
Contribution Collection and Compliance
Shocks & extreme events
Document Type

Taiwan: Deferred payment of labor, insurance premiums and labor pension

Submitted by siha on Thu, 06/25/2020 - 17:23

Labor Insurance Bureau of the Ministry of Labor (11.03.2020) From April 1, 2020 to September 30, 2020, the insured (withdrawn) unit and professional workers meet one of the conditions may apply to the Bureau for deferred payment of labor, insurance premiums and labor pension. The insurance premium and labor retirement pension of 6 months of labor from February 2020 to July 2020 from the expiration date of the grace (limitation) period may be postponed for half a year. No late fees will be levied during this period.

Regions / Country
Taiwan, China
Global challenges
Topics
Contribution Collection and Compliance
Shocks & extreme events
Document Type

Denmark: One-time grant of DKK 1,000

Submitted by siha on Thu, 06/18/2020 - 15:43

Ministry of employment (16.06.2020) A tax-free one-time grant of DKK 1,000 is paid to beneficiaries who were fully or partially publicly supported by a public income transfer in the month of April. The grant is not offset by the citizen's public benefits.

Regions / Country
denmark
Global challenges
Topics
Cash transfers
Document Type

China: Social security contributions reduced in response to COVID-19 - Willis Towers Watson

Submitted by siha on Tue, 05/12/2020 - 09:14

Willis Towers Watson (18.03.2020) Employer social security contributions for retirement pensions, workers compensation, unemployment and health (including maternity) benefits are reduced. The extent and duration of the measures depend on the province, autonomous region or municipality, and size of the employer’s workforce.
For retirement pensions, workers compensation and unemployment benefits:

Regions / Country
china
Global challenges
Topics
Financial crisis
Document Type