The rapid outbreak of the coronavirus presents an alarming health crisis that the world is grappling with. In addition to the human impact, there is also a significant commercial impact being felt globally. As viruses know no borders, the impacts will continue to spread. In fact, 94 percent of the Fortune 1000 are already seeing COVID-19 disruptions.1
It’s possible that the coronavirus threat will eventually fade, as the Ebola, Zika, and Severe Acute Respiratory Syndrome (SARS) viruses have in recent years. But even if it does, the next devastating, yet-unnamed outbreak is not so much a matter of “if” but “when.”
To help you understand your exposure to COVID-19, and more importantly, position your business to be resilient in the face of this and the next global threat, please review timely insights from KPMG business leaders.
In view of the current situation and the spread of COVID-19, businesses are now more than in the past concerned about the impacts of VAT on business cash flow, focusing mainly on the proposed measures related to the possibility to defer tax payment deadlines.
While the world addresses the impact of COVID-19 and takes actions to mitigate its spread, already there are significant questions around what the pandemic may mean for the fight against climate change once the immediate danger to public health is over.