As a result of COVID 19, all the countries implemented measures to provide assistance for business reactivation.
The national government, after the declaration of economic emergency, adopted several particular measures (+150 decrees) aimed at preserving people’s lives, and controlling the spread of Covid-19. These measures have affected people’s lives and very importantly the operation of companies. The main effect on companies has been their decrease in the level of sales in most sectors. Some have been affected more than others; however, they have all been affected. That is why it has established a series of government aid to save businesses and thereby save jobs. These measures have affected people’s lives and very significantly the operation of companies. The main effect on companies has been their decline in sales in most sectors. Some have been affected more than others; however, all have been affected.
After serving the first few months of isolation and reduction of business activities, employment has been the main injured. That is why a number of government aid has been created so that companies can sustain operations and thus sustain jobs. The government has therefore decided to create a series of tools for companies to sustain operations and thus sustain jobs.
Entrepreneurs have been forced to sail, in turbulent areas. However, they have had to make decisions with great uncertainty.
In particular, some of the doubts they have had to face are:
What will be the duration of quarantine, is it special, for those aspects that prevent or limit the sales of the business on site and production at headquarters?
Should employees be suspended, fired, or kept?
How productive will they be at a job at home?
What to do with other monthly or recurring payment obligations? Lease, credits, subscriptions, among others. Lease, credits, subscriptions, among others.
With gradual entry, will the business remain viable, especially if production capacity is reduced as a product of security protocols? Should you reduce jobs? or reduce the days? Should you reduce jobs? or reduce the days?
How will demand respond after gradual opening? When to reach a break-even point? When to reach a balance point?
- In times of crisis, what to do with falling incomes?
In addition, the National Government decreed measures to reduce the impact on companies, i.e. to give relief to the corporate cash. At the same time, do not affect the collection of taxes that allow further development of social investment programmes. The government and Senate have suspended the fiscal rule, as a mechanism to create borrowing needed to deal with the crisis. At the same time, it does not affect the tax collection that allows further development of social investment programmes.
The government and Senate have suspended the fiscal rule as a mechanism to create debt needed to deal with the crisis.
What are the rescue measures offered by the Government?
And which ones do I want to take advantage of the Company?
The following are some of the aids for the reactivation of companies, jobs and loans for these companies:
Formal employment support program, premium payment. Fixed amount Fixed amount
Are these trading income?
It is calculated on the minimum wage.
3 days excluding VAT non-technical characterization goods. They are doubts, for lack of clarity in the categories. It promotes e-commerce goods, it cannot control restrictions.
Reduction of VAT on leases for the duration of Quarantine
Tax payment agreements, with interest rates less than a current bank rate, from a default interest. Forgive default interest and penalties and pay up to 80% of the capital Forgive delinquency interest and penalties and pay up to 80 of the capital
Express returns balances in favor of taxpayers. Very good for speeding up cash availability. It is no longer available, as an option. Very good for speeding up cash availability. It is no longer available, as an option.
Suspension of terms (term and term) for the duration of quarantine.
Business reorganization processes so that viable companies do not fall into the possibility of being liquidated. I develop the special insolvency procedure with fiscal connotation. Development of the procedure of the special insolvency regime with fiscal connotation.
It seeks to give relief at the checkout, exemption from withholding tax, advance income and presumptive rent until December 2020.
New express tax payment agreements for companies in reorganization.
Access to funding
Development of online channels, for tax processes with the DIAN
Modification of tax
The objective is to sustain the cash flow, to sustain the company.