COVID-19: Economic substance adjustments
The outbreak of Covid-19 has unsurprisingly impacted economic substance requirements, with lockdowns and travel bans preventing various mandatory board meetings from taking place. In light of this, governments and associations of jurisdictions have stepped in with pragmatic, temporary workarounds to ensure GPs are not penalised for not complying with substance regulation.
However, these adjustments have been put in place on a country-by-country basis, and have not been sanctioned by the EU.
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