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By Émilien LEBAS Laurent GOUTIER, KPMG Luxembourg*
On 11 March 2020, the World Health Organization (WHO) declared COVID-19 a pandemic. In its message, it balanced the certainty that COVID-19 will inevitably spread to all parts of the world, with the observation that governments, businesses, and individuals still have substantial ability to change the disease’s trajectory. A month later, we are unfortunately there. On top of the tremendous health issues, COVID-19 is stress testing the robustness of many enterprises and the economy as a whole. Most companies are now facing extraordinary operational and financial hardship.
Pursuant to the announcement of Prime Minister Xavier Bettel on 17 March 2020, several measures purposed to safeguard the...
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