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Home office in quarantine in Q&A

Home office and its setting, quarantine, new requirements for employers and employees. We summarized 16 most important questions and answers that were asked during our webcast. Find out how to quickly set up home office, what tax regime applies for compensation for working from home, whether the employer can order the employee to work overtime or provide employees with contribution for travelling to work with their own car or how to deal with meal vouchers in these days. We summarized the most important things so that you can adapt to the new situation. 

1. 4. 2020
Tax 

The Restriction on the Export of Protective Equipment

Due to the current situation relating to the COVID-19 pandemic and an increased consumption of personal protective equipment, the European Union has decided to restrict its export. The measures apply to safety goggles and screens, face shields, masks, protective suits and gloves, regardless of whether the products originate from the EU or not. The export of a limited amount of these products can be permitted on the basis of a licence and only in restricted cases, i.e. mainly for humanitarian aid, to supply EU’s operations abroad, to assist the WHO or in other emergency operations. 

30. 3. 2020
Tax 

COVID-19: Stabilisation package II, an overview of the existing measures for taxpayers and COVID loan programme

The Government has published additional measures for taxpayers and businesses to mitigate the impacts of the coronavirus pandemic (the so called “stabilisation and liberalisation package II”). A part of the drafts is subject to approval by the Parliament that should consider the proposals in the state of legislative emergency. No key tax measures have been approved yet for large and medium-sized companies. Most amendments relate to the postponement of tax payment to 2021 or remission of various sanctions but in effect, no tax liability is to be remitted. Partial salary payment (“kurzarbeit”) and provision of loans may be considered an effective aid for businesses. Individual amendments approved are outlined below. 

25. 3. 2020
Accounting 

FASB Issues an Accounting Standards Update Relating to the Reference Rate Reform

On 12 March 2020, the US Financial Accounting Standards Board (FASB) issued Accounting standards update (ASU) no. 2020-04 “Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. Equally to what the International Accounting Standards Board (IASB) did in September 2019, FASB responds to the planned reform of IBOR rates and the planned termination of the use of the LIBOR reference rate at the end of 2021 and to the impact of the changes on financial accounting. The ASU become effective since 12 March 2020 and will apply for a definite period of time, specifically until 31 December 2022. 

24. 3. 2020
Deloitte Live 

Employment of Foreigners during the Pandemic: 19 Most Frequently Asked Questions

Employment of Foreigners during the Pandemic: 19 Most Frequently Asked Questions The current situation and crisis measures taken by the government fundamentally influence, among other things, the employment of foreigners. Employers and employees are thus faced with many new questions: How will they be affected by the closure of borders? How will immigration permits be submitted and approved? And how will the measures influence business trips? We have summed up the 19 most frequently asked questions and answers related to this topic that have appeared in our special webcast. 

23. 3. 2020