RapNet


Rapaport News

 

Financial-Legal

 
Rapaport 宣傳
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

高級搜尋
最新文章
視訊
功能
新聞
挖掘
原石市場
拋光市場
製造
零售

Belgian Banks Postpone Loan Repayments

Government will guarantee 12-month credit lines and has extended tax deadlines.
Mar 30, 2020 3:15 AM   By Rapaport News
Print 列印 Facebook Facebook Twitter Twitter 共用 Share


RAPAPORT... Belgium has introduced emergency financial concessions to help companies survive the current downturn, offering businesses extra time to repay loans and meet tax obligations.

The government and banks have agreed to postpone repayments of existing credit lines until September 30, according to a document the Antwerp World Diamond Centre distributed Friday. The state will also guarantee additional credit lines of up to a year with annual interest capped at 1.25%, applicable to loans from all Belgian and foreign banks active in the country.

Separately, businesses that can show they have suffered because of the coronavirus will be able to set up a plan for repayment of levies such as the so-called Carat Tax on diamond revenues, as well as value-added tax (VAT) and other duties.

Companies will have until April 30 to file tax returns for corporate income tax, including the Carat Tax, instead of March 16. The government has also extended deadlines for filing VAT returns and paying taxes that are due in the coming weeks.

Meanwhile, employers will be able to place workers on temporary unemployment, enabling them to avoid paying salaries without having to lay off staff entirely. The employees will receive social benefits from Belgium’s National Employment Office.

ABN Amro, a major lender to the Antwerp diamond sector, announced its own measures to helps clients, offering automatic six-month deferrals of repayments until September for all commercial clients with a credit facility of up to EUR 2.5 million ($2.8 million). Customers must opt out if they prefer not to be included in the program, the Dutch bank said March 19.

“The coronavirus will inevitably lead to a difficult period for our clients — businesses, self-employed people and retail clients,” said Kees van Dijkhuizen, CEO of ABN Amro. “Where possible, we want to offer fast support. This will give these clients extra scope now and the chance later to get back on their feet quickly.”

Image: The Port House, Antwerp. (Shutterstock)
Tags: ABN Amro, Antwerp World Diamond Centre, AWDC, Banking, Banks, Belgium, carat tax, Coronavirus, COVID-19, credit, income tax, Kees van Dijkhuizen, lending, National Employment Office, Rapaport News, tax, value-added tax, VAT
Similar Articles
Rough diamondsKimberley Process Plans to Digitize Its Certificates
Apr 05, 2020
The Kimberley Process (KP) is trialing the...
India Eases Trade’s Financial Burden
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



電洽: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    私隱政策  
  
twitter twitter
關於 Rapaport
廣告業務