Announcement of new measures 18/03/2020

Announcement of new measures by the government.

The main measures announced are the following:

  1. Employee retention clause for receiving government grants.

  2. Dismissal of employees in companies suspended is cancelled.

  3. Full insurance coverage of the above employees in their nominal salary.

  4. Extension of unemployment subsidy to those ending 31.03.2020.

  5. Refundable deposits to businesses based on turnover decline, number of employees, destruction of stocks, etc. A key condition is to maintain jobs.

  6. Business financing (based on suspension, turnover reduction, etc.) with the basic condition of not dismissing employees.

  7. There will be an allowance of 800€ for employees who have stopped working under a state order.

  8. Tax liabilities of employees who have subordinate employment with companies that have ceased operating under a state mandate, are being suspended.

  9. Deferred tax liabilities for freelancers and sole proprietorships and a subsidy of 800€.

  10. There will be a VAT decrease (VAT 6%) until the end of the year, on products needed to protect against Covid 19 (gloves, wipes, masks, etc.)

  11. Intervention in the real estate market

  12. Businesses suspended and their employees will be paid 60% of their rent (March-April)

  13. Extension of valuation exercise to new objective values. ENFIA 2020 will remain in the same values and there will be changes in 2021.

  14. Immediate repayment of businesses by the public revenue authority for refunds of up to 30.000€ in all cases under review

  15. Banks suspend loan repayments up to 30.09.2020

  16. New measures by the Capital Market Commission

The Analog Group study group prepares detailed articles on the above issues.

Analog Group

Payroll Department

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