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  • COVID-19: The 05 most urgent actions to preserve our economic fabric. By Mohamed Derbel
Article:

COVID-19: The 05 most urgent actions to preserve our economic fabric. By Mohamed Derbel

23 March 2020

Now almost all entrepreneurs have decided to reduce working hours and opted for remote working for their employees! A citizen & responsible act to protect all those around, to stop any involuntary relay and to preserve the first wealth of the company, its human capital.

A situation whose negative economic repercussions are imminent on the company itself, but also on its suppliers, its customers, its staff and the whole ecosystem in which it operates.

Whatever the size, the sector, the geographic location, the kind of the market, all companies are affected by this national and international stop of activities. A cost which cannot, of course, be supported alone!

Sharing with the state the financial cost of this situation would be a responsible decision of governments who want to preserve what will remain after the crisis.

The Tunisian economic fabric, dominated by small and medium-sized enterprises, calls for the establishment of an economic emergency plan like the health emergency plan already in place and which all Tunisians have appreciated and adhered to it.

This economic emergency plan must reassure all economic players (Employers, employees, financing institutions,… etc.) by incessant measures to support businesses so that they can resume their normal activities as quickly as possible once the invisible demon will be defeated.

Among these urgent measures we propose:

  • The postponement, at least for one month, of all tax deadlines (Declarations, Car Tax, registration,… etc);
  • The postponement, at least for one month, of all social deadlines (Declarations, new registrations, etc);
  • The suspension of regulatory deadlines for tax and social litigation, at least for one month, (Notification of results, taxpayer responses, etc.);
  • The suspension, at least for one month, of Tax and social calendars of payments;
  • The postponement of all bank and financial maturities of natural and legal persons;

Reassuring workers that they will keep their jobs by supporting their companies is also an important message that the government must immediately broadcast ! A boost to succeed in this period where everyone with low morale is afraid of not being paid in the coming days!

Of course, these measures have an unexpected cost on the state budget, but what is it worth in the face of preservation of lives, companies and jobs!

May God protect us & protect our dear Tunisia.

Mohamed DERBEL

Chartered Accountant-Partner- BDO Tunisia