A constant stream of new legislation is being approved that affects businesses. Every week Garrigues provides a summary of the main issues that companies need to take a look at over the coming days. This week we feature the new legislation approved on financial and contractual moratoriums and deferrals, the new labor measures or the VAT exemption and customs duty relief on importations of goods to combat the epidemic, together with the advisability of reviewing and analyzing companies’ financial and net worth positions. We also discuss the potential financial liability of the state.
We analyze the measures introduced by Royal Decree-Law 11/2020, from every angle of business law: corporate/commercial contracts, tax, labor and employment, restructuring and insolvency, procedures and administrative law.
The toughening of lockdown measures in Spain and resulting closure of all business activities not classed as essential makes it absolutely necessary to keep very much in sight this week the measures approved in the labor and employment field. In the domain of corporate law and commercial contracts, the decision governing the first tranche of guarantees to soften the economic effects of the crisis has already been published in the Spanish Official State Gazette (BOE). As for tax matters, the personal income tax and wealth tax season is about to start. In the litigation arena, the general statute of limitations for personal action has been extended. And there are also important mobility and transport, and restructuring and insolvency issues and matters related to administrative law.
This measure will not apply to the activities and cases listed in the annex to the royal decree-law, or to employees who are already working remotely or employees of any companies that have already applied for or are implementing a temporary layoff with suspension of contracts or are authorized to carry out a temporary layoff with suspension of contracts while the leave set out in this royal decree-law is in place.
Royal Decree-Law 9/2020, including a number of additional measures to Royal Decree-Law 8/2020, has been published and contains provisions on the application process for unemployment benefit, the monitoring of temporary layoffs (ERTEs) or the tolling of terms of temporary contracts.
The global health alert triggered by the spread of the new coronavirus known as SARS-CoV-2, which causes the disease COVID-19, is creating great challenges for companies. Governments around the world are tackling the situation by approving drastic measures to try to mitigate the effects of the health crisis first and the economic crisis second. In this context, at Garrigues we have put together – from the standpoint of all of the practice areas of business law – an overview of the key issues that companies in Spain should take into account in the coming days and weeks.
Pandemic has entered the world’s daily vocabulary in the most dramatic and unexpected way. As the severity of the situation worsens, a growing number of legislative initiatives attempt to address the needs of citizens and society in the face of the outbreak. This note is aimed at reporting on the main legislative or regulatory initiatives that have been taken in Portugal with a view, mainly, to protecting society against the spread of the new coronavirus and the effects that the pandemic causes on social and economic life.
The March 18, 2020 edition of the Official State Gazette has published Royal Decree-Law 8/2020 of March 17, 2020 on urgent and extraordinary measures to confront the economic and social impact of COVID-19. The decree-law comes into force on its publication date, for a one-month term, and allows this term to be extended.
The suspension of the opening to the public of premises and commercial establishments is established in general. It has also been announced that measures will be approved relating to temporary layoffs and aid for companies, self-employed workers and families.
The impact of the health crisis on the business world may have consequences from a contractual, litigation, employment, regulatory and even criminal perspective. The broad range of cases must be addressed individually from a multidisciplinary legal perspective.