Investegate announcements from Webtel.mobi (Holdings) Limited, Webtel.mobi’s Global Alliance of Affiliates is Already in 193 Countries With 288 Million Members – and Growing Rapidly
What Restaurants Need to Know Ahead of Its Anticipated Launch
This week the Small Business Administration (
SBA) provided guidance on how the $28.6 billion Restaurant Revitalization Fundwill work. The Restaurant Revitalization Fund provides for qualified restaurants and other food establishments to obtain tax-free federal grants (
Grants) of up to $10 million to replace the loss of revenues resulting from the pandemic. Unlike the SBA’s Paycheck Protection Program (
PPP) in which applications were submitted to and processed by participating banks and other financial institutions, the Restaurant Revitalization Fund will be administered directly by the SBA.
Restaurants and other qualified food establishments anxiously await the rollout of the Restaurant Revitalization Fund amid estimates that the $28.6 billion will cover less than 25 percent of the more than $120 billion that would be required to award Grants to all qualified eating establishments. While we still do not know exac
Friday, March 12, 2021
The hospitality industry has been hit especially hard during the COVID-19 pandemic, but there is assistance in sight for struggling restaurants and bars. On March 11, President Joe Biden signed into law the American Rescue Plan Act of 2021 (Act), a $1.9 trillion stimulus bill that includes $28.6 billion for a Restaurant Revitalization Fund (RRF).
Title V, Section 5003 of the Act authorizes the Small Business Administration (SBA) to make grants of up to $10 million in the aggregate ($5 million in the aggregate per location) to eligible entities and their affiliated businesses to cover pandemic-related losses.
What Businesses Are Eligible for RRF Grants? Eligible entities are broadly defined as businesses where the public or patrons assemble for
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As part of its commitment to meeting international
standards, the Cayman Islands has introduced a number of new
legislative measures and regulatory changes in recent years. Cayman
Islands entities will need to take certain actions and make certain
annual filings by specified deadlines as year-end approaches to
ensure they remain compliant with their regulatory
obligations.
These filings include the annual economic substance notification
and first return required under the International Tax Co-operation
(Economic Substance) Law (2020 Revision) (as amended by relevant
regulations, the ESL ) and the FATCA and CRS