Lithuania accounting news
Covid-19 – Summary of Measures Lithuania
June 8, 2020
Mauritius financial news
Covid-19 – Summary of Measures Mauritius
June 10, 2020

Covid-19 - Summary of Measures


Luxembourg financial news

Summary of measures for SMEs in Luxembourg related to COVID-19

1. Meeting liquidity needs

Emergency allowance in the amount of 2.500 € for the self-employedGrant self-employed people with less than 10 employees a non-refundable and nontaxable support of 2.500 €
Additional financial aid for the self-employed based on their incomeGrant self-employed people (regardless of the number of their employees) a direct aid in the amount of EUR 3.000 ; 3.500 or 4.000 depending on the income level of the person concerned
Financial aid of 5.000 € for micro-businesses forced to close down pursuant to a Government decisionGrant direct aid in the amount of 5.000 € to companies with less than 10 employees, forced to cease their operations as a result of the amended regulation of 18 March 2020
Additional financial aid of 5.000 € for microbusinesses (employing less than 10 people)Grant an additional direct aid in the amount of 5.000 € to companies with ≤ 9 employees
Financial aid of 12.500 € for businesses employing between 10 and 20 peopleGrant a direct aid of 12.500 € to businesses (between 10 and 20 staff)
Capital grant advancesGrant financial aid of up to 500.000 € in the form of a repayable advance to cover operating costs
Advance refund of VATMeet liquidity needs through an early repayment of VAT credit balances below 10.000 €
Payment of an advance on extraordinary family leaveAdvance partial reimbursement of salaries that employers must continue to pay to the parents concerned
“Special Anti-Crisis SME Guarantee” in cooperation with banks active in corporate financingProvide guarantees for obtaining new working capital lines from banks

2. Promoting Telework

Amended taxation of telework for Belgian, French and German cross-border commutersAllow cross-border commuters to work from home during the crisis without being taxed in their country of origin

3. Defer payments linked to tax deadlines

Cancellation of tax advances for the first two quarters of 2020Automatically grant a cancellation of tax advances for the first 2 quarters of 2020. This concerns income tax (of firms) and municipal business tax
4 month deferral for the payment of tax instalmentsRequest a deferral of payment (without interest) of income tax, municipal business tax and wealth tax
Deferral of tax return filingsSet the deadline for the submission of tax returns for legal and natural persons at 30 June 2020
Extension of the filing deadline for VAT returnsWaive administrative penalties if the deadline for filing VAT returns, subscription tax, inheritance declarations and notarial and bailiff’s deeds is exceeded

4. Administrative tolerance for social security contributions

Increased flexibility in the payment of social security contributionsProvide flexibility to companies in cash management and payment of social security contributions, e.g. by temporarily suspending the calculation of default interest for late payments


If you have any questions regarding this or any of the other initiatives offered to those affected by the current disruption, please contact Bernard Zimmer at