Saudi Arabia – Temporary relief of some penalties

Further to the announced plan by the Saudi Cabinet, which has amounted to more than SAR 120 Billion in an effort to mitigate the implication of COVID-19 pandemic on the economic activities and private sector, the Ministry of Finance “MOF” has offered a temporary relief for some tax related penalties.

Find more information on the topic in the PDF below.

UK – Pay no import duty and VAT on medical supplies, equipment and protective garments (COVID-19)

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.

Find more information on the topic by clicking the link below:

Germany – tax measures in response to COVID-19

The Federal Ministry of Tax announced within the Q&A section re Covid-emergency measures that donations of medical equipment, as well as the free provision of personnel for medical purposes, will be exempt from value added tax from April 3, 2020 until the end of the year for beneficiary organizations. Nothing was published yet.

If you are interested in further details please contact the following person.

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Algeria – tax measures in response to COVID-19

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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India – Foreign Trade Policy extended with relaxation in timelines due to COVID-19 pandemic

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.

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Swiss pensions and COVID-19: funds are affected, but can also help employers

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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Spain – tax measures in response to COVID-19

Update in connection with customs measures implemented by the Spanish government regarding COVID-19 (31 March 2020):

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