At the federal level, the idea is to support the affected companies and self-employed persons by introducing a "backward settlement" ("carry back scheme") of tax losses accumulated as a result of the coronavirus.
This carry back provision would allow tax losses incurred this year as a result of the COVID-19 pandemic to be offset against already taxed 2019 profits. This would allow companies to recover part of their 2019 upfront payments.
In addition, for the next three years, companies would create a so-called reconstruction reserve in the amount of the loss they incur in 2020. The money to restore equity would then be deducted from the corporate profits of 2020 and the coming years. This would temporarily reduce the amount of taxes to be paid again.
However, we are still waiting for the final approved legal texts and a clear description of the conditions linked to this carry back regulation. As soon as more is known, you will be able to find out via our Titeca channels.
If you would like more information about this, please contact us at 051 26 82 68 or via email at firstname.lastname@example.org.