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A new temporary fiscal aid measure should mitigate the far-reaching impact of the COVID-19 crisis. By means of an exemption from the payment of withholding tax for the months of June, July and August 2020, the wage costs for those months can be mitigated. The measure is included in a draft law and is therefore not yet adopted.
Only employers who have made use of the temporary unemployment scheme for an uninterrupted period of at least 30 calendar days between 12 March 2020 and 31 May 2020, both dates included, will be able to benefit from the exemption.
In addition, the employers must at the same time meet all of the following conditions:
Certain companies are excluded:
The exemption is equal to 50 percent of the difference between:
Only the withholding tax on certain types of remuneration of employees is taken into account. Ordinary monthly salaries, premiums, benefits in kind are included. Severance pays, double holiday pay, end-of-year bonus and arrears are excluded, among other things, as is the remuneration of managers.
By comparing the cost of the withholding tax for May 2020 with the cost of the withholding tax for the months of June, July and August 2020, employers who re-employ their employees from June 2020 onwards will, in principle, benefit most from the measure.
The exemption will only be applied after all other exemptions from payment of withholding tax and may never exceed EUR 20 million over the three months in question.
The measure is included in a draft law and is therefore not yet adopted. We follow the measure closely and inform you as soon as there are any changes. A calculation of the exemption is therefore not yet possible, not even for the month of June.
Source: Draft law containing various urgent fiscal provisions as a result of the COVID-19 pandemic (CORONA III), Parliamentary Documents, Chamber 2019-20, no. 1390.
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