HMRC has updated and published guidance in 5 areas on 1 April 2020 (clickable links):
The President of India promulgated the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (Ordinance),1 on 31 March 2020, to put into immediate effect the relief measures2 announced by the Finance Minister on 24 March 2020, in response to the Novel Coronavirus (COVID-19) outbreak. The Ordinance is in line with relief measures announced earlier on statutory and regulatory compliances under various laws.
General Measures
Executive Decree No.20-69 dated 21 March 2020, relating to measures to prevent and reduce the spread of the Coronavirus (Covid-19)
The aim of this decree is to reduce the social distance between the citizens especially in publics areas and in work places in order to reduce the spread of COVID 19 virus during this period.
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Find out how to pay no import duty and VAT on protective equipment, relevant medical devices or equipment brought into the UK from non-EU countries during the coronavirus (COVID-19) outbreak.
The Foreign Trade Policy is notified for five years with annual supplements generally notified by the Directorate General of Foreign Trade (DGFT). The present Foreign Trade Policy notified in 2015 was valid until 31 March 2020. It was expected to be replaced by a new Foreign Trade Policy effective 1 April 2020.
Many of our clients have been asking for, or are concerned about, the impact of COVID-19 on their Swiss pension funds. In our view, other than some tactical asset allocation decisions, there’s no need for panic.
The short-term will bring some pain through investment returns and lower interest rates, but the challenge for Swiss pension funds remains one for the long-term.
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Update in connection with customs measures implemented by the Spanish government regarding COVID-19 (31 March 2020):
All those submitting VAT monthly returns – including those who do not have a monthly refund authorisation and who are not considered to be ‘starter’ either – will be able to benefit from an accelerated refund of the VAT credit on their current account (with effect from 31 March 2020) under the conditions set out below.
On 26 March 2020, Advocate General Bobek delivered its opinion in case C‑835/18 (SC Terracult SRL), assessing that a taxpayer is allowed to correct invoices for transactions already subject to a tax audit, under certain conditions.
Der Bund hat die Kurzarbeit ausgeweitet, Selbständig Erwerbende können unter bestimmten Voraussetzungen Erwerbsausfälle geltend machen und Unternehmen kommen einfacher zu sofort benötigter Liquidität.
PwC Switzerland ITX
Michaela Merz 