Pubblicato in: Commercio, Fisco e Tasse

Germania. 50,000 negozi si preparano a dichiarare bancarotta.

Giuseppe Sandro Mela.

2020-05-01.

Bundestag 001

«up to 50,000 businesses in Germany could become insolvent due to the pandemic.»

«Over the four weeks that stores in the non-food sector have been closed, we’ve lost around €30 billion ($32.5 billion) in revenue that we won’t be able get back again»

«The branch is losing nearly a billion euros a day»

«up to 50,000 retailers could go bankrupt because many do not possess enough capital to survive the phase, largely due to the high cost of rent»

«many shops will be missing»

La situazione delle piccole imprese non è poi molto dissimile da quella degli esercizi.

Non a caso il governo federale di Berlino ha varato giorni fa la German Insolvency Law,

«COVID-19 Mitigation Act, which inter alia provides for a temporary suspension of the obligation to file for insolvency until September 30, 2020»

«The management of (factually) insolvent companies is granted certain protection from personal liability in connection with payments effected during the suspension period»

Ma il problema non è solamente tedesco, bensì di tutti i paesi che hanno effettuato il lockdown. Ciascuno poi ha legiferato secondo convenienza: il New Jersey, per esempio, ha emanato il “COVID-19 Fiscal Mitigation Act” (P.L. 2020, c.19).

«On April 14, 2020 Governor Murphy signed into law the “COVID-19 Fiscal Mitigation Act” (P.L. 2020, c.19) that automatically extends the due date to July 15, 2020»

«Tax calendar year filers now have until July 15th to file and pay these taxes, including 1st quarter estimated tax payments»

«Penalties and interest will not be imposed on the balance of tax due between the original due date and the extended due date»

* * * * * * *

Problema generalizzato è la crisi di liquidità. Non tutte le piccole imprese avevano accantonato liquidi a sufficienza per poter passare il periodo di crisi senza dover ricorrere al credito oppure essere obbligate a dichiarare insolvenza.

Se è vero che molti governi hanno stanziato cifre anche elevate per garantire liquidità a tassi virtualmente eguali allo zero, restano tuttavia due grandi problemi irrisolti.

Quasi di norma questi sono fondi stanziati, ma non disponibili: quindi è come se non ci fossero.

Le banche sono estremamente caute ad elargire prestiti, che però in ogni caso è denaro che presto o tardi dovrà essere rimborsato.

*


Coronavirus: 50,000 German retailers could go bust.

One in six German retailers could go bankrupt during the coronavirus crisis, a trade industry has said. For most shops, rent is still due despite being forced to close their doors.

Up to 50,000 German retailers — or one of every six retail shops in Germany — could go bankrupt due to the coronavirus crisis, the head of the German Retail Association (HDE) Stefan Genth told newspapers of Germany’s Funke Media groupTuesday. 

“Over the four weeks that stores in the non-food sector have been closed, we’ve lost around €30 billion ($32.5 billion) in revenue that we won’t be able get back again,” Genth said. Despite smaller stores being allowed to reopen last week, Genth said customer traffic had been low.

The branch is losing nearly a billion euros a day, he said.

According to Genth, the association believes that up to 50,000 retailers could go bankrupt because many do not possess enough capital to survive the phase, largely due to the high cost of rent. HDE estimates that there are around 300,000 retail shops in Germany.

Corporate landlords, Genth said, have been particularly resistant to deferring rent, or when they do, often require an interest payment of between 5 and 9%.

The association leader called for a greater financial rescue package for retailers that, due to restrictions put in place because of coronavirus, were forced to close their shops. 

“For many retailers, they’re still required to pay their largest cost — rent — despite shops being closed,” Genth said.

“We fear that after this crisis many city centers won’t look the same anymore, and that many shops will be missing.”

*


Debevoise & Plimton. COVID-19: Temporary Changes to German Insolvency Law.

– In order to mitigate the impact of the COVID-19 pandemic, the German government recently passed the COVID-19 Mitigation Act, which inter alia provides for a temporary suspension of the obligation to file for insolvency until September 30, 2020.

– The management of (factually) insolvent companies is granted certain protection from personal liability in connection with payments effected during the suspension period in order to resume or maintain the business operations or to implement a restructuring plan.

– Further, protection from clawback and lender’s liability risk is provided to lenders who extend financing to German companies during the suspension period.

– Similar protection from clawback is provided to shareholders who grant new shareholder loans during the suspension period. Moreover, such shareholder loans are not subject to the “equitable subordination” for a certain period of time.

*


New Jersey. COVID-19 Related Tax Information

«On April 14, 2020 Governor Murphy signed into law the “COVID-19 Fiscal Mitigation Act” (P.L. 2020, c.19) that automatically extends the due date to July 15, 2020, for certain taxpayers to file and make payments originally due on April 15, 2020. Individual Gross Income Tax, Partnership, and Corporation Business Tax calendar year filers now have until July 15th to file and pay these taxes, including 1st quarter estimated tax payments. Penalties and interest will not be imposed on the balance of tax due between the original due date and the extended due date, as long as the returns and/or payments are submitted by July 15, 2020.

In addition to the extension of time to file and pay taxes under the Corporation Business Tax Act and the Gross Income Tax Act, the COVID-19 Fiscal Mitigation Act impacts the payment of interest on refunds for all taxes, as well as the assessment of all taxes by the Division.»