![European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources](https://eaccny.com/wp-content/uploads/2020/06/eaccny-logo.png){kind=logo}
COVID-19 Related News
COVID-19 Related News
14
Jul
The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis.
Today's ‘best practices' cover several issues, including:
Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing financial difficulties by deferring payments;
Enabling safer cashless payments while ensuring cash...
14
Jul
The European Commission has today recommended that Member States do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions. Restrictions should also apply to companies that have been convicted of serious financial crimes, including, among others, financial fraud, corruption, non-payment of tax and social security obligations. The aim of today's recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the...
10
Jul
The Italian government has approved Law Decree No. 34 of May 19, 2020 (“Decreto Rilancio”), which includes several measures aimed at providing additional support to businesses impacted by the COVID-19 emergency. Below is an overview of said measures.
A. Reduction of IRAP (Regional Tax on Production Activities)
Section 24 of the Decreto Rilancio sets forth an exemption for companies and self-employed workers with revenues not exceeding EUR250 million in the last financial year from payment of (1) the balance of IRAP for the current tax period until December...
07
Jul
Employment Attorneys David Santeusanio, Howard Sokol and Matthew Sloane co-authored an article in the Employee Relations Law Journal addressing practical considerations and obligations for employers when establishing safety plans to reopen the workplace. COVID-19 has altered the reality of workplace safety and corresponding industry standards. Employers face dramatically different workplace challenges and resulting new obligations regarding safety precautions and worker protections. Throughout the pandemic, federal agencies such as the Occupational Safety and Health Administration (“OSHA”) and the Centers for Disease Control and...
29
Jun
The Federal Reserve Board on Thursday released the results of its stress tests for 2020 and additional sensitivity analyses that the Board conducted in light of the coronavirus event.
"The banking system has been a source of strength during this crisis," Vice Chair Randal K. Quarles said, "and the results of our sensitivity analyses show that our banks can remain strong in the face of even the harshest shocks."
In addition to its normal stress test, the Board conducted a sensitivity...
29
Jun
The ‘Global Goal: Unite for our Future’ pledging summit organised today by the European Commission and Global Citizen mobilised €6.15 billion in additional funding to help develop and ensure equitable access to coronavirus vaccines, tests and treatments. The money raised will also support economic recovery in the world’s most fragile regions and communities.
This amount includes a €4.9 billion pledge by the European Investment Bank, in partnership with the European Commission, and €485 million committed by EU Member States. This brings total pledges under the Coronavirus Global Response pledging marathon,...
25
Jun
The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. Over 75 percent of countries are now reopening at the same time as the pandemic is intensifying in many emerging market and developing economies. Several countries have started to recover. However, in the absence of a medical solution, the strength of the recovery is highly uncertain and the impact on sectors and countries...
24
Jun
As the wave of reopening orders sweeps across the country, businesses see a light at the end of the tunnel. That light, however, in many instances is still yellow, and may be so for some time to come. Serious restrictions continue to hamper the habitual functioning of America’s businesses, customers have dwindling cash to pay for goods, supplies are restricted or cut, and social distancing practices and protocols reduce productivity. Companies, therefore, continue to take a closer look at...
