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2019 financial statements: no change to the balance sheet values

deta: 06.05.2020
Area: Tax

With reference to events occurring after the end of the financial year and the consequences on the valuation items in the financial statements and on the going concern, the emergency should not require any adjustment to the amounts in the 2019 financial statements.

Since the Covid-19 emergency can certainly qualify as an event occurring after 31 December 2019 whose effects cannot, therefore, be considered as existing at that date, the facts and related effects on the financial statements values are attributable to the financial years ending after 31 December.

Therefore, the pandemic does not require changes in the values contained in the financial statements for the year 2019 (as they relate to the year 2020), but information must be provided in the notes to the financial statements when this event is considered significant for the company.

2019 financial statements: no change to the balance sheet values

deta: 06.05.2020
Area: Tax

With reference to events occurring after the end of the financial year and the consequences on the valuation items in the financial statements and on the going concern, the emergency should not require any adjustment to the amounts in the 2019 financial statements.

Since the Covid-19 emergency can certainly qualify as an event occurring after 31 December 2019 whose effects cannot, therefore, be considered as existing at that date, the facts and related effects on the financial statements values are attributable to the financial years ending after 31 December.

Therefore, the pandemic does not require changes in the values contained in the financial statements for the year 2019 (as they relate to the year 2020), but information must be provided in the notes to the financial statements when this event is considered significant for the company.