Tax settlement during a pandemic

In order to help entrepreneurs carry on business activity during a global crisis a variety of alternative support solutions emerged.

The new changes concerned, for example, the methods of maintaining financial liquidity or partial cancellation of financial obligations. The latter solution has been quickly implemented, as under the Anti-Crisis Shield programme, business owners were able to benefit from tax exemption or the idle time pay. However, these were only temporary solutions. Many entrepreneurs ask themselves: how will they settle taxes when the global crisis is over?

Financial support during the pandemic

In a time of economic crisis caused by COVID-19, many businesses have been challenged by having to implement unprecedented solutions that would enable maintaining financial liquidity, pay remuneration to the employees, and maintain stable company growth. Many of these solutions enabled entrepreneurs to stay in business. Government support provided as a part of the Anti-Crisis Sheild programme also proved to be helpful. Although the proposed support ideas are still available to entrepreneurs, protecting businesses from the consequences of the pandemic should be a more extensive and strategic process.

Tax settlement during a global crisis

The current situation along with all financial assistance solutions should be a driving force for calculated crisis management in small, medium-sized and large companies.