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Legal & Tax Check in the coronavirus crisis

23/03/2020

The current situation is tremendously challenging for companies. Liquidity shortfalls and sales slumps affect almost everybody. Advice is now particularly valuable when it is provided quickly and efficiently. Take a look at our Legal & Tax Check.

Legal & Tax Check

Your CMS Tax Team supports you in the following tax and social security measures straightforward and without fees (!):

  • Reduction of (corporate) income tax advance payments for 2020,
  • No levy of interest payments,
  • Deferral of tax payments or payment by instalments (currently without interest!),
  • No levy of late payment fines, and
  • Deferral of social security contributions or payment by instalments.

The government has adopted a EUR 38bn financial aid package that includes:

  • Tax deferrals: EUR 10bn,
  • Emergency aid: EUR 15bn, and
  • Guarantees and suretyships: EUR 9bn.

Our offer to you

We support you in your liquidity planning, in applying for subsidies of any kind (e.g. Emergency Fund of the Chamber of Commerce) and during capacity constraints in particular when your legal department has to focus on crisis management. In this situation we provide you with one-stop support, not only in tax matters, but also in all other legal areas.

Other members of the CMS Tax Team:

Alexander Hiermann
Associate

Manuel Cimbaro
Legal Assistant
 

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