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.
In this article we offer a few recommendations to assist the self-employed and companies with fulfilling the general requirements laid down by the decision for accessing this new financing, and so speed up application procedures at financial institutions.
The new provisions in Royal Decree 309/2020 deal with the authorization regime, cross-border activity, corporate governance principles and compensation policy and the obligations relating to solvency for specialized credit institutions.
In view of the cash pressures that the current state of emergency may create, it is advisable to bring forward analysis of returns to file them as soon as possible (if a refund of tax is due) and evaluate, in any case all potential tax benefits to be applied.
In the context of the extraordinary situation stemming from the COVID-19 health crisis, the Spanish Registrars’ Association and the Spanish National Securities Market Commission (CNMV) issued a joint statement on March 26, 2020, in which they consider that, as regards financial statements and the proposed allocation of profit/loss, companies may, among other alternatives, choose to proceed as follows:
This guarantee facility is to be managed by ICO and will cover new loans and other types of financing provided by financial institutions to companies and the self-employed to soften the economic effects of COVID-19.
Some of the measures adopted in recent weeks to tackle the economic and social impact of COVID-19 have special implications for the healthcare and pharmaceutical industry. In this article we analyze the key information that companies in this field need to take into account.
The health crisis caused by COVID-19 could turn into a chance to revolutionize arbitration and boost and strengthen its virtues as opposed to domestic court litigation. The flexibility inherent to this alternative dispute resolution system and its recourse to online tools and technology can be used to avoid proceedings being suspended.