Finally, there is improvement in sight: the number of corona infections is gradually decreasing and our hair can take it again. However, the "brakes are off" will not be for a while. That is why the government last Friday created a new number of support measures and extended some existing ones. Keep going is the message, at least until the end of June 2021. Below is a selection of some new/extended measures. For a complete overview of the support measures, please consult our schedule.
- The Flemish trade loan was extended again, it must now be applied for by July 1, 2021.
- Enterprises, which have already fully exhausted the 9 month payment extension, will receive a additional respite granted in addition to the 9 months. This payment extension is valid until June 30, 2021 and can only be requested for credits that were granted before April 1, 2020. In addition to the conditions that were applicable in the second charter, the company must also meet the definition of a "healthy" company in order to benefit from this additional payment extension. How a bank will qualify a company as a healthy company is further explained in the charter itself. The payment extension is never granted automatically. Anyone who wants to use it as an entrepreneur is asked to contact his or her bank at least 10 calendar days before the next expiration date of the credit. However, at present it is not yet clear what the impact of this will be on the application for additional credit for the company that makes use of the extra payment postponement.
- The measure Tax Shelter COVID-19 is reactivated until August 31, 2021. Individuals can obtain a 20% personal income tax reduction if they directly acquire new shares of a small company whose turnover for the period from March 14, 2020 to April 30, 2020 had decreased by at least 30% compared to the same period of 2019.
- Tax relief for remission of rent: landlords are fiscally encouraged to remit part or all of the rent of commercial properties in the sectors that are compulsorily closed for the months of March to May. The remission can be brought in as a tax deduction for 30%.
- Elimination of December advances VAT (extension) and withholding tax. December advances for withholding taxes and VAT are eliminated and settled in the next fiscal year (01/2022).
- Harmonization of interest (second quarter) and refund VAT. Recommended to apply for individual installment plans for VAT which allows avoiding the high interest rate of 9.6%.
- Tax exemption of subsidies awarded by cities, towns and states.
- Individual deferred payment of taxes.
- VAT reduction (6%) on hand gels and mouth masks.
- Additional deferral of payment for corporate contribution.
- For the events sector, a reduction in employer social security contributions provided.
- The Hospitality sector is exempted from paying FASFC levies.
- The use of time credit and career break is further relaxed in certain sectors.
- In the service voucher and school transportation sectors, the temporary unemployment per half day possible.
- Measures will be taken regarding cumulative retirement and temporary unemployment + preservation of 2nd pillar accrual in case of temporary unemployment.
- The smooth system of temporary unemployment due to corona is extended for all sectors until the end of June.
- The allocation of (double) bridging rights is extended.
- In key sectors, the quota of voluntary overtimeerected.
- The Flemish Protection Mechanism 4 for companies and self-employed persons who suffered at least 60% loss of turnover or were compulsorily closed in the period January 1 - January 31, 2021 can be applied for on the VLAIO website in the meantime.