LVPA HELPS BUSINESSES TO DEAL WITH CONSEQUENCES OF PANDEMICS
„In the emergency situation country‘s companies came up with solutions creating new products and services, our aim is to select those eligible, so that have good results“, − emphasizes Mr Želvys.
Last year two projects - COVID-19 R&D and COVID-19 Products LT - were help companies to deal with covid related problems.
Under COVID-19 R&D project EUR 24.27 m were allocated for projects by 44 companies to create products and technologies intended to help to deal with pandemics: diagnoctics and medical means and equipment, medicines, disinfectants, protective equipment.
COVID-19 Products LT will finance projects by 56 companies, total amount EUR 25,9 m. The project aims to encourage small and medium companies to invest in production of COVID-19 related products, by funding purchase of equipment and software as well as trials of new equipment.
LVPA cooperates with State Tax Inspectorate working on subsidies to the companies. Last year 41,692 microcompanies received EUR 112.5 m of subsidies, 5,699 marketplace traders got EUR 1.7 m.
Currently together with State Tax Inspectorate LVPA works on 3 different subsidies: to independent companies significanly affected by covid, to non independent companies and compensation of marketplace tax. Almost 15,000 companies have been evaluated in case of independent companies, amount of subsidies is EUR 28.4 m, 410 non independent companies are to receive EUR 2.7 m, 3,600 marketplace traders are to get EUR 1.1 m of marketplace tax compensation.
LVPA is making efforts to reduce administrative burden to clients as well by reducing number of inspections.