Belgium

06/03/2020

Direct grants

All sectors

Easing of access to and extension of period of "temporary unemployment due to force majeure" for furloughed salaried workers

06/03/2020

Direct grants

All sectors

Easing of access to and extension of period of "temporary unemployment due to force majeure" for furloughed salaried workers

15/04/2020

Public guarantees

Non-financial corporations

Federal government: State guarantee on most new additional credits and credit lines with a maximum maturity of 12 months granted by banks, with the exception of refinancing loans.
Distribution of losses at portfolio level:

- For losses up to 3% of the value of the guaranteed portfolio: 100% for the bank
- Losses between 3% and 5% of the value of the guaranteed portfolio: 50% for the bank and 50% for the government
- Losses above 5% of the value of the guaranteed portfolio: 80% for the government and 20% for the bank

18/03/2020

Tax deferrals

All sectors

Deferral of tax payments: natural person/legal person/corporate tax.

24/04/2020

Other measures of fiscal nature

All sectors

Temporary moratorium on bankruptcy filings for corporates in financial distress due to coronacrisis. Protection of these corporates against foreclosure.

15/03/2020

Direct grants

Non-financial corporations

Financial compensation for companies in sectors affected by social distancing measures (one-off lump sum and compensation by day of manadatory closure)

15/03/2020

Direct grants

Non-financial corporations

Financial compensation for companies in sectors affected by social distancing measures (one-off lump sum)

31/03/2020

Private moratoria

Non-financial corporations

Banks (and insurance companies) will defer payments, without charge:
- For non-financial corporations, SMEs and self-employed persons who either did not have payment arrears as of 1 February 2020 or had arrears of less than 30 days as of 29 February 2020, are not currently subject to a credit restructuring, and face payment issues as a result of the coronavirus

crisis.
- Maximum duration of 9 months (exceptions possible for viable firms)

31/03/2020

Moratoria on other claims

All sectors

For natural persons in the temporary unemployment scheme because of the Covid-19 virus:
- Extension of insurances under group insurance (contracted by employers)

- Deferral of payments of premiums on mortgage protection insurance

For companies hit by the Covid-19 crisis:
- Possibility to obtain a payment deferral for all premiums falling due between 30/03/2020 and 30/09/2020.

18/03/2020

Tax deferrals

All sectors

Deferral of tax payments: Personal Income tax.

18/03/2020

Tax deferrals

All sectors

Deferral of tax payments: VAT

18/03/2020

Tax deferrals

All sectors

Deferral of tax payments: Withholding tax

31/03/2020

Private moratoria

Households

Banks (and insurance companies) will defer payments, without charge:
- For mortgage borrowers facing payment issues as a result of the coronavirus crisis. This covers capital and interest payments.

- Banks will not, for the duration of the guarantee scheme, convert private individuals’ mortgage mandates into mortgage registrations.
- Maximum duration of 9 months

18/06/2020

Tax reliefs

All sectors

Refund of advance payments and
a tax exemption on part of the pre-crisis profits, equivalent to projected losses during 2020.

18/06/2020

Tax reliefs

All sectors

Favorable tax treatment of future profits used to restore the company's pre-crisis solvency position

25/03/2020

Direct grants

All sectors

Easing access to "bridging rights" for self-employed workers

07/04/2020

Direct grants

All sectors

Financial compensation for companies in sectors affected by social distancing measures (one-off lump sum)

27/05/2020

Public moratoria

Households

3-months moratoria on consumer loans, renewable once.

01/09/2020

Direct grants

Non-financial corporations

Easing of access to and extension of period of "temporary unemployment due to force majeure" for furloughed salaried workers, in sectors particularly hit by the crisis (exhaustive list)

24/07/2020

Public guarantees

Non-financial corporations

The guarantee scheme can be used for all new additional loans and credit lines (except for certain loans such as refinancing loans) to small or medium-sized non-financial enterprises with a term of 12 to 36 months granted by the bank between the date of entry into force of the Law and 31 December 2020, including the credits which have been repaid before 31 December 2020, are (optionally) eligible for the second guarantee scheme (until the bank’s share in the total € 10 billion envelope is reached). The guarantee applies to individual loans, for which 80% of the losses will be borne by the State. The remaining 20% of the loss will continue to be borne by the lender concerned.

09/07/2020

Direct grants

Non-financial corporations

Financial compensation for companies in sectors that continue to be affected sanitary measures (one-off lump sum)

01/08/2020

Direct grants

Non-financial corporations

Financial compensation for companies in affected by the corona crisis. Companies that see their sales fall by 60% or more between August 1 and September 30, 2020 due to operating restrictions due to the corona measures, can receive a bonus. This should help them to cope with this fall in turnover.

11/12/2020

Public guarantees

Non-financial corporations

The guarantee scheme can be used for all new additional loans and credit lines (except for certain loans such as refinancing loans) to small or medium-sized non-financial enterprises with a term of 1 to 5 years granted by the bank between the 01/01/2021 and 30 June 2021 are (optionally) eligible for this (extension of the) second guarantee scheme (until the bank’s share in the total € 10 billion envelope is reached). The guarantee applies to individual loans, for which 80% of the losses will be borne by the State. The remaining 20% of the loss will continue to be borne by the lender concerned.

25/11/2020

Other measures of fiscal nature

All sectors

Temporary moratorium on bankruptcy filings for corporates in financial distress due to coronacrisis (only for companies undergoing
new activity restriction measures under

the ministerial decree of November 1, 2020) Protection of these corporates against foreclosure.

01/10/2020

Direct grants

All sectors

Easing of access to and extension of period of "temporary unemployment due to force majeure" for furloughed salaried workers

01/03/2021

Public moratoria

Households

3-months moratoria on consumer loans.

27/03/2020

CCyB

Banking sector

Full release of the countercyclical capital buffer

01/04/2020

Dividend distribution policy

Banking sector

Credit institutions and (mixed) financial holding companies that are under the direct supervision of the NBB should comply with the ECB Recommendation (ECB/2020/19) of 27 March 2020.

07/04/2020

Dividend distribution policy

Insurance sector

All Belgian insurance / reinsurance groups
temporarily suspend all of their dividend distributions and discretionary share buybacks.

22/12/2020

Dividend distribution policy

Banking sector

Belgian (mixed) financial holding companies and credit institutions which are not subject to direct
supervision by the European Central Bank should apply Recommendation (ECB/2020/62) on dividend distributions during the COVID-19 pandemic and

repealing Recommendation ECB/2020/35