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Legislative changes in view of the Covid-19 pandemic (in some countries there are changes to insolvency law, tenancy law, law on consumer contracts and corporate law)

Arising from the Covid-19 crisis, the government has adopted and amended several regulations, Acts and a financial resolutions. These are:

  • Regulation on necessary measures to fight the Covid-19 pandemic, which provides the legal foundation for the aforementioned measures
  • Regulation on short-time work, which simplifies the notification of short-time work

The government has provided the national unemployment support fund with an extra 50 Million Swiss Francs to cover the additional costs arising from of the crisis. The provisions regarding ‘short-time work’ allow for the amount of contractually agreed working hours to be reduced for a certain time frame without having to change the contract. Part of the salary will be paid by the state.

  • Act on the temporary provision of default guarantees for granting liquidity-securing loans to Liechtenstein companies (by the Liechtenstein Landesbank)

The government is providing a surcharge guarantee of 25 Million Swiss Francs.

  • Financial resolution authorizing a supplementary loan of 25 Million Swiss Francs to the state in order to provide the described supportive measures
  • Regulation on the restriction of the supply of medical products for restricting the amount of certain named  medical products being dispensed by doctors and pharmacies in order to secure a necessary supply for the Liechtenstein population
  • Regulation for the temporary waiver of default interest for delayed payment of value added tax (VAT) which bans until 31 December 2020 the collection of default interest for overdue VAT