Covid-19 Updates

Companies affected by the Corona crisis are inundated by the federal and regional authorities’ support measures to help them overcome these difficult times.

Titeca Accountancy has put these support measures into a clear schedule.

It has been raining benefits since the start of the corona crisis. The Flemish government introduced the hindrance benefit, the closure benefit and the compensation benefit. Only recently the hinder benefit has been extended and the support benefit has been announced.  Have you lost sight of all the benefits?  Don’t worry, we will give you an overview of the principal Flemish benefits below.

It has been raining benefits since the start of the corona crisis. The Flemish government introduced the hindrance benefit, the closure benefit and the compensation benefit. Only recently the hinder benefit has been extended and the support benefit has been announced.  Have you lost sight of all the benefits?  Don’t worry, we will give you an overview of the principal Flemish benefits below.

Within the context of its relaunch plan for the tourist sector, the Province of West Flanders launches a call for projects for transition aid.

Tourism companies that make investments to make their business corona-proof can qualify for a reimbursement of 50% of the costs incurred, up to a maximum of 7,500 euro. 

Belgians have had a solid relationship with real estate for decades. Not only natural persons but also companies like brick and mortar buildings. We also look outside the Belgian real estate market but are increasingly looking for opportunities abroad. After all, the benefits can be many. A place to relax, an investment opportunity, ... The fact that the costs can be offset fiscally is a nice bonus. But unfortunately, this fiscal offsetting is now being nipped in the bud!

The SME growth subsidy supports SMEs that want to make a strategic growth leap through transformation, innovation or internationalisation.  The subsidy is intended for attracting the knowledge needed to successfully achieve this growth ambition.

To prevent companies from going bankrupt because of the Corona crisis, the government has created temporary breathing space for companies in difficulty from 24 April to 17 May. As a result of this measure, any company experiencing financial difficulties will benefit from an automatic suspension.

Good news! The Flemish Government has now also reached an agreement - in addition to the already existing aid measures for housing rental schemes - on aid measures for commercial leases.

The federal level is considering supporting affected companies and self-employed people by introducing a 'carry-back scheme' for tax losses accumulated because of the coronavirus.

A director's liability may be compromised if a cautious director would not have made the decision or would have behaved differently under the same circumstances. The circumstances for making decisions as a director today are, to put it mildly, special and exceptional. These decisions will therefore also be viewed differently, but the rules that are imposed do create certain expectations from entrepreneurs.

The National Security Council's communication of Wednesday 6 May shows that working from home remains the norm, but is no longer an obligation. However, if working from home is possible for employees in certain functions, this is still recommended. As combining their work and private life is not always easy for employees, and certainly not when they have to work from home, the Federal Council of Ministers approved the 'corona parental leave' last week.

Employees who are parents of one or more children under the age of 12 may take additional parental leave between 1 May and 30 June, provided their employer agrees. The aim of this measure is to enable parents to strike a better balance between their work life and taking care of their children, who in most cases are not yet able to go to childcare or to school (full-time), due to the corona measures.

This one-off premium of EUR 3,000 is intended for companies that were not obliged to close down, but suffered a loss of turnover of at least 60% as a result of the corona measures taken.  The first payments will be made this week.

Back on 27 March, the guarantee scheme (state guarantee) for bridging loans was announced to bail out companies affected by the corona crisis. With this measure, banks are encouraged to provide short-term credit to companies that are healthy but experiencing financial difficulties as a result of this crisis.

Starting on 4 May, so-called non-essential enterprises will be allowed to resume or continue their activities. Upon resumption of the activities, it is of the utmost importance for all enterprises to provide a healthy and safe working environment for all their employees. A guide containing practical guidelines, issued by the FPS Employment, will help you minimise any risk of spread of the corona virus in your company’s workplaces. 

The introduction of the corona measures has a far-reaching impact on many companies and individuals. Like many industries, the construction industry is wondering what will happen if agreements between the parties can no longer be complied with. Can contracting parties invoke force majeure or are they required to comply with their contractual obligations?

There is no doubt that the hospitality industry is currently facing major challenges as a result of the corona measures imposed. Since mid-March, all hospitality businesses in Belgium have had to close their doors temporarily, causing a major financial challenge. In all likelihood, it will be some time before things go back to normal in the industry, even after the measures are relaxed.

The financial problems encountered are being partly offset by various government support measures. A lot of entrepreneurs in the hospitality industry have also been proactive, and using some creativity have found alternative sources of income to keep their business running during the lockdown. We can only applaud these forms of alternative entrepreneurship. However, it is also important to take into account the applicable regulations for these additional activities. That's why we are taking a moment here to consider points of attention for hospitality business offering takeaway food and gift vouchers.

As many enterprises are compelled to close their doors (either partially or entirely) as a result of Covid-19 and everyone stays home, customers often don’t find the way to their familiar outlet. So what can an entrepreneur do when he sees his income reduced to almost nothing from one day to the next? He can be even more creative than usual and continue to deliver his products or services, by bike if he has to, or even virtually. The ability to think out of the box is increasingly becoming a requirement in these strange times. 

The Titeca experts keep you informed about important additions to the support measures for entrepreneurs in specific sectors.

The impact of the corona virus is particularly noticeable in the construction industry. Several government measures, including the social distancing obligation, make it rather difficult for construction companies to continue their activities.

In this article we also explain the interpretation of the notion of 'family burden', which has caused a lot of uncertainty in the context of the bridging law. Finally, we provide some details about the compensation premium and how you can apply for it.

Almost every enterprise is experiencing the consequences of the worldwide spread of the Covid-19 virus. In order to alleviate the economic hardship, the federal government has developed a series of aid measures.  

One of these measures relates to the social security contributions: on the one hand a suspension of payment of social security contributions, on the other hand an instalment plan.

Almost every enterprise is experiencing the consequences of the worldwide spread of the Covid-19 virus. In order to alleviate the economic hardship, the federal government has developed a series of aid measures.  

One of these measures relates to the social security contributions: on the one hand a suspension of payment of social security contributions, on the other hand an instalment plan.

For many people, paying rent is not easy during the corona crisis. At the moment there is no law that drops the tenants’ obligation to pay the rent. And for landlords, it’s not easy to react in an appropriate manner to the request or demand of tenants who no longer want to pay. 

The Flemish government is currently examining the issue of residential lease and has already announced that evictions will not be possible if rents are temporarily not paid during this period. 

Almost every enterprise is experiencing the consequences of the worldwide spread of the Covid-19 virus. In order to alleviate the economic hardship, the federal government has developed a series of aid measures.  

One of these measures relates to the social security contributions: on the one hand a suspension of payment of social security contributions, on the other hand an instalment plan.

Due to the current situation the federal government decided last Friday afternoon the drastically simplify the temporary unemployment of employees as a result of the corona crisis.  

In order to ensure financing in times of the corona crisis and to give citizens some financial breathing space, the federal government has taken drastic measures. After consultation between the authorities and the banking sector, the decision was taken that banks will commit to granting suspension of payment to viable enterprises, self-employed people and individuals until 30 September 2020, without additional costs. 

In these turbulent times Titeca Accountancy is extra concerned about the well-being of our employees and customers-entrepreneurs. We conscientiously apply all recommendations of the FPS Public Health against the spread of the coronavirus.

Companies affected by the consequences of the corona can request temporary unemployment benefits for their employees. 

If you are confronted with an acute decrease in the number of orders, your turnover or your production, you can request unemployment benefits for economic reasons.  If your company is unable to put employees to work on account of a lockdown, it is advisable that you request unemployment benefits on account of force majeure.