TEMPORARY PROTECTION FOR TENANTS AND RENT SUBSIDY

1.      TEMPORARY PROTECTION FOR TENANTS Under an amendment to Act No. 62/2020 Coll. on Specific Response Measures to the Spread of the Dangerous Contagious Human Disease COVID-19 and in the Judiciary, which amends certain acts (“Temporary Protection Act”), tenants (entrepreneurs and non-entrepreneurs alike) are provided with temporary rent protection if they fall behind with their…

Job retention contributions

The government accepted a proposal to modify the conditions of the job retention project during a declared emergency on 14 April 2020 that results in an expansion of the relief made available to employers and employees. This is the third social relief package, and applicants can seek a contribution under the program from the Office…

Amendment of the Social Insurance Act and other acts – waiver of employer’s contribution obligations for April 2020

This amendment proposes waiver of employer’s insurance contribution payments for April 2020 and potentially subsequent periods to be specified by the government in a regulation. Employers remain obliged to pay their employees’ insurance contributions by the original payment deadlines. This exception was approved by the government on 17 April 2020 and covers employers or mandatory…

COVID-19 FINANCIAL REPORTING IMPLICATIONS

The coronavirus pandemic (COVID-19) has fast become the defining global health crisis of our time and the greatest challenge to almost all entities, either directly or indirectly. There are significant disruptions to global supply chains, suspension, or in worst cases cessation of many business operations, significant volatility and downturn in financial, commodity and energy markets,…