The expansion of Coronavirus (Covid-19), the globalization of society, in general, and of the economy in particular, has led the society and the companies to move in a hostile environment, in a hasty and abrupt manner, without time for their adaptation or anticipation. The health crisis has struck in a generalized manner, affecting all economic fields and sectors.
In this changing environment, flexibility, speed and adaptation are the principle governing the decision-making and the adoption of the most appropriate policies in the different scenarios and sectors of activity: industrial sector, tourism and catering, retail, consulting and engineering companies, etc. All sectors have been affected and all companies must take into account their own circumstances and context, adopting measures to be able to face this crisis in the best possible conditions. We analyze the key aspects in the labor, tax, corporative or financial field that companies will have to face, as well as the different measures approved by the Government (download guides at the bottom of the page):
The entities must be prepared for situations such as: reduction in activity, sick leave and isolation, cancellation or drastic reduction in activity, reconciliation of activity with health recommendations.
Corporative and administrative perspective
The legal perspective (possible dissolutions of companies, aspects related to Administrative Law ...) and the fulfillment of obligations by administrators is another key area that is being affected.
The tax perspective is highly relevant and is another of the areas in which the company may encounter difficulties: presentation of tax obligations, payment of tax debts, etc.
The accounting consequences are another key aspect for companies and it must be analyzed how this pandemic will impact those entities whose fiscal year-end is December 31, 2019 or later and that to date have not yet prepared their annual accounts.
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