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MSI - Global Alliance

News & Knowledge

News & Knowledge

COVID-19 Updates

MSI Global Alliance is committed to helping businesses and member firms navigate these uncertain times. View our articles and resources on COVID-19 below.

For assistance and support in any jurisdiction or country please contact our member firms directly.

Effects of the 2020 Pandemic on accounting in China

The COVID-19 pandemic has established itself rapidly in early 2020, affecting entire countries, communities, and families. The measures taken to contain the virus have also...

UAE: Covid-19 vaccinations: Freedom of choice and public policy

The benefits of vaccination, particularly considering the Covid-19 pandemic, and the status and data relating to efficacy and safety of vaccines and in particular the...

ACCA publishes report on 'The Covid19: road to recovery'

The long term financial impact of Covid-19 seems to be growing increasingly clear as leading indicators suggest the global economy is entering a deep recession,...

USA: Retirement account tax rules change amidst COVID-19 legislation

Although the value of investment accounts have declined during the COVID-19 pandemic, retirement investors may have a tax-related silver lining with respect to legislative changes...

USA: When to apply for forgiveness of a PPP loan

The Paycheck Protection Program Flexibility Act (“PPPFA”) modified critical provisions of the CARES Act and the Small Business Administration (“SBA”) rules implementing the CARES Act....

Getting back to business: Business interruption insurance for the professional service firm

In this article, MSI's NYC accounting member Gettry Marcus described the hurdles that the policyholder will certainly face regarding the consideration of a business interruption...

Portugal: The Economic and Social Stabilisation Programme (PEES)

As part of the package of government measures to boost Portugal's economy, the Economic and Social Stabilisation Programme (PEES) was created as a set of...

Significant VAT changes in Germany to reduce COVID-19 impact

Due to Covid-19 the German government introduced new tax relief measures including significant changes to VAT.

ACCA launches Covid-19 audit impact report

Going concern, audit evidence and accounting estimates are just some of the key issues auditors around the world are responding to during the Covid-19 crisis,...

MSI Global Alliance: How accountants and lawyers are responding to the challenges of COVID-19

MSI Global Alliance (MSI) has carried out a series of member surveys, feedback video meetings and one to one calls, which have identified a number...

Netherlands: Measures in response to COVID-19

Due to the COVID-19 outbreak several measures are introduced by the Dutch government. MSI's Dutch accounting member Ruitenburg summarizes the main measures for companies. The...

Canada: Federal and provincial relief programs

MSI's Canadian law member Gardiner Roberts LLP provides a summary of the federal subsidies and the subsidies provided by the Province of Ontario for businesses...

USA: U.S. Treasury releases paycheck protection program loan forgiveness application

MSI's NYC accounting member Gettry Marcus CPA, P.C. updates on recent developments regarding the Paycheck Protection Program (“PPP”), as provided by the U.S. Treasury. On...

India: Force Majeure in the current Covid-19 lockdown

This summary by MSI's New Delhi member firm RNC Legal briefly addresses the questions of „ForceMajeure‟ in Commercial and other contracts, leading to interruptions, delays...

Europe: Summary of emergency labour & employment legislation

Download MSI's summary of the emergency labour and employment law changes in 35 European countries as a result of the Covid-19 pandemic.

New export requirements for 'PPE' in China

On 31 March 2020, China issued the “Notice Regarding Orderly Development of Medical Goods Exports applicable to the exports of Private Protective Equipment (“PPE”)”, effective...

Sourcing Personal Protective Equipment (“PPE”) from China - Practical tips for international buyers

International buyers of PPE from China must ensure they are familiar with applicable Chinese regulations to insure they are buying product which is lawfully approved...

South Korea: COVID-19 and its implication for employers

Korea is generally considered to have dealt with COVID 19 very well (so far). There has been no lockdown as such and life has carried...

ACCA Webinars: Working together through the challenges of Covid-19

The ACCA is running a series of webinars on the topic of COVID-19 and its impact on the global economy, businesses and people. View a...

COVID-19 VAT measures in the Netherlands

The Netherlands has announced temporary support measures for businesses that have been affected by COVID-19. MSI's Dutch accounting member Ruitenburg adviseurs & accountants provides a...

Luxembourg: A property El Dorado for the future?

The economic crisis that is set to follow the current pandemic will seriously impact growth in most European countries. Unlike its neighbours, however, the coming...

MSI Global Alliance: COVID-19 VAT measures in EU countries

As a result of the COVID-19 crisis many (if not all) EU countries have introduced temporary support measures regarding VAT (as well as other taxes)....

Turkey: Government measures against Covid-19

The number of corona virus cases exceeding one million worldwide, causes the risks on the global economy, health and judiciary system to increase. After the...

Australia: Are tenants entitled to rent relief ?

Most leases, including the current Law Institute of Victoria’s Lease of Real Estate (Commercial) (LIV Lease) do not deal with the unique circumstances that we...

USA: Small business bankruptcy protection in the era of the coronavirus

If you engage in commercial or business activities, or own a company that does, and have less than $7,500,000 in total debt, inclusive of all...

Brazil: New labor measures due to the coronavirus pandemic

MSI's Brazil law member DDSA provides an update on the new labour law measures that have been introduced in Brazil during the COVID-19 crisis including...

France: Economic measures to mitigate the effects of the COVID-19 outbreak

On March 16th 2020, the President of the French Republic decided to take measures to reduce contacts and travels to a strict minimum throughout the...

India: Measures, fiscal relaxations and the way forward

MSI's Mumbai member Chokshi Group provides an update on the measures that were introduced by the Indian government to provide support to businesses and individuals...

USA: CARES Act Paycheck Protection Program

The Paycheck Protection Program (PPP), as a result of the $2 trillion CARES Act signed into law, authorizes up to $349 billion in forgivable loans...

Austria: Stimulus and support measures for businesses announced by the Austrian government

The Austrian government has announced an aid package of up to 38 billion euros to deal with the COVID-19 consequences. MSI's Austrian accounting member summarises...

Anguilla: Employment law advice guidance for employers and employees

During the COVID 19 pandemic there will be an in-creasing number of employers who will need to take certain measures in relation to their businesses....

Cyprus: Government economic (support) measures

The global crisis caused by Covid-19, which affects the sustainability of states and the survival of people and businesses, hasn’t left Cyprus unaffected. The Cyprus...

USA: Tax and estate planning considerations in light of the coronavirus

The Coronavirus (COVID-19) has presented many unique challenges to us all. The health and safety of family and friends is top of mind for many....

USA: Businesses adapting to COVID-19 - Discussion series

In light of recent events, MSI's Los Angeles accounting member Lucas Horsfall has put together a virtual discussion series on “Businesses Adapting to COVID-19” covering...

USA: Assessing workforce options: Amid financial pressures, what’s the right plan of action for my business?

Many businesses have faced significant economic challenges due to the coronavirus pandemic. If your business is considering making personnel decisions to improve financial stability, you...

USA: Business interruption coverage and the coronavirus

Business Interruption Coverage protects insured business owners from losses of business income and earnings - that are typically caused by physical damage arising from a...

USA: CARES Act - Navigating the loan programs

To make the provisions of the CARES Act easier to understand, MSI's Florida law member Trenam Law has prepared a table to help you navigate...

Germany: New Short-time working allowance

The new short-time working allowance is intended first and foremost to support companies that “suffer from massive supply bottlenecks or are compelled to close by...

General advice: If you must stay in a country due to unforeseen circumstances - including a pandemic

International travel has fallen dramatically with thousands of flights having been cancelled as countries have significantly restricted the movement of individuals and/or have closed their...

Serbia: Economic measures for mitigating the effects of the COVID-19 pandemic

The Republic of Serbia, has adopted a variety of initial measures in order to ease the economic consequences of the COVID-19 pandemic. MSI's Serbian accounting...

Romania: Government allocates 2% of GDP to support local business environment, is that enough?

The introduction of measures designed to diminish and control the spread of the COVID-19 infection has had a significant impact on business and the economy....

China: Fighting the financial fallout of the coronavirus - A moving target

When China ground to a halt as a result of COVID-19, industry players worldwide were primarily concerned with issues such as salvaging or getting out...

Webinar (16 April): ACCA's Covid-19 global survey - Impacts and responses from businesses

In a live, interactive 60-minute webinar on Thursday, 16 April, the ACCA will share the results of a survey of over 10,000 ACCA members and...

USA: Legal alerts on COVID-19

The attorneys at MSI's Virginia law member Vandeventer Black LLP are dedicated to sharing updates and guidance with the business community and are eager to...

Business advice: Responding to COVID-19 - The need for flexibility and collaboration

Luxembourg MSI member, Initium Corporate Services SA shares its thoughts on the initial steps needed to respond to the COVID-19 pandemic and the resulting impact...

France: Labour law & Covid-19

France has now moved to Phase 3 in its response to the Covid-19 epidemic. MSI's French law member Schmidt Brunet Litzler provides an update on...

USA: FAQs – Paycheck Protection Program

The CARES Act is lengthy and written in legalese. The SBA guidelines and Interim Final Rules can be confusing. To add a little simplicity to...

Australia: COVID-19 Claiming under insurance

Business interruption or industrial special risk insurance policies may not respond to business losses caused in the recent COVID-19 outbreak, and related events, because the...

UK: COVID-19 - Flow chart for companies

There have been a number of measures introduced in the UK, since the COVID-19 pandemic commenced, that businesses can take advantage of to assist them...

MSI Global Alliance: Helping businesses navigate the challenges of the COVID-19 pandemic

The COVID-19 pandemic has moved at considerable pace. MSI Global Alliance shares how it has been helping businesses and member firms to navigate these challenging...

Slovakia: Employment support measures

The Ministry of Labor, Social Affairs and Family of the Slovak Republic has prepared the project “First Aid” to support the maintenance of employment at...

Colombia: Temporary and special measures to deal with the COVID-19 crisis

MSI's Colombian law member Sanclemente Fernandez Abogados provides an overview of the measures issued by the Colombian government in connection with severance pay, granting of...

Business advice: Covid-19 and teleworking – Are you and your employees on the same page?

Cyber criminals are using the unprecedented increase in teleworking to launch attacks against businesses and their employees. This article by MSI's law member Vandeventer Black...

Malaysia: Stimulus packages to combat the impact of COVID-19

Since the implementation of the Movement Control Order (MCO) on 18 March 2020 due to the COVID-19 pandemic, the Malaysian government has introduced various stimulus...

Ecuador: Guidelines for the COVID-19 outbreak

Through Executive Decree No. 1017, on March 16, the President of the Republic declared a state of emergency by national disaster in the Ecuadorian territory...

Malta: Measures to support businesses and individuals during COVID-19

The Maltese Government has launched a set of measures to assist businesses in Malta in the light of the COVID19 pandemic and its possible effects...

Webinar (8 April): COVID-19 fallout - How does my business survive?

MSI's New Jersey member Greenbaum, Rowe, Smith & Davis LLP will be holding a joint webinar presentation together with Withum and Rivers Insurance Group. The...

Norway: Measures to mitigate effects of the coronavirus pandemic on the economy

The Norwegian Government has introduced several measures to combat the spread of the Corona virus and to provide economic assistance to the enterprises that are...

Canada: Federal and Ontario Governments Economic Response Measures (Tax Update)

The Canadian and Ontario governments have pledged over $124 billion to fight the COVID-19 pandemic. MSI's Canadian accounting member Hogg, Shain & Scheck Professional Corporation...

UK: Logistics and trade contracts with Chinese companies during COVID-19

Chinese manufacturers, exporters and freight forwarders are slowly returning to their plants and offices after a long period of quarantine. Anybody who deals with Chinese...

Australia: The COVID-19 Stimulus & Support Measures - What can you access and how?

MSI's Brisbane accounting member MSI Taylor designed this guide as a quick reference to the COVID-19 related tax and financial support that might be available...

USA: CARES Act – $2 trillion coronavirus stimulus bill signed into law

President Trump signed into law the $2 trillion coronavirus stimulus bill (the Coronavirus Aid, Relief and Economic Security Act (CARES Act)) on March 27. The...

Business advice: Avoid Coronavirus scams - The things to look out for

COVID-19 has had an enormous impact on businesses and individuals and cybercriminals and scammers are trying to take advantage. MSI's law member Vandeventer Black LLP...

Business advice: Effects of COVID-19 on Contractual Performance in China

In the wake of the COVID-19 outbreak and governmental responses, concepts such as “force majeure” have become commonplace in connection with the (non-)performance of contracts....