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February
17
SECOND PACKAGE OF SUBSIDIES: MOST AFFECTED BUSINESSES TO RECEIVE EUR 70 M
Government has approved concept of subsidies to companies most affected by pandemic prepared by ministry of economics and innovation. Businesses will receive EUR 70 m in one time subsidies.
„We see most affected businesses, like restaurants, cafes, bars, sports clubs, cinemas, events, hotels, travel and many others which were practically paralysed during carantine. These businesses will receive larger subsidies to cover part of their expenses. We are doing everything to people’s health and economy“, – says minister of economics and innovation Aušrinė Armonaitė.
Companies can choose from two alternatives.
First alternative is for companies suffering 60 % and larger fall of turnover. Amount of subsidy would be no less than 60 % of personal income tax paid by company in 2019 and will vary between EUR 500 and EUR 100,000.
Second alternative is for companies which already used EUR 800,000 limit of state assistance. Subsidy will depend on unpaid fixed expenditure, such as rent for premises, payment for electricity, gas, etc. Subsidy can not exceed 70 % of these expenses, 90 % for very small companies. Maximum amount of subsidy is EUR 100,000.
These subsidies still have to be approved by European Commission.
The second assistance package also contains EUR 30 m subsidy to self-employed (100 % of personal income tax paid in 2019, ranging from EUR 100 to 22,000); EUR 30 m subsidy to pay testing staff for coronavirus (EUR 12 per test); and EUR 2 m to cover marketplace tax – up to EUR 300 per person.
Subsidies can be allocated until June 30th, 2021.
„We see most affected businesses, like restaurants, cafes, bars, sports clubs, cinemas, events, hotels, travel and many others which were practically paralysed during carantine. These businesses will receive larger subsidies to cover part of their expenses. We are doing everything to people’s health and economy“, – says minister of economics and innovation Aušrinė Armonaitė.
Companies can choose from two alternatives.
First alternative is for companies suffering 60 % and larger fall of turnover. Amount of subsidy would be no less than 60 % of personal income tax paid by company in 2019 and will vary between EUR 500 and EUR 100,000.
Second alternative is for companies which already used EUR 800,000 limit of state assistance. Subsidy will depend on unpaid fixed expenditure, such as rent for premises, payment for electricity, gas, etc. Subsidy can not exceed 70 % of these expenses, 90 % for very small companies. Maximum amount of subsidy is EUR 100,000.
These subsidies still have to be approved by European Commission.
The second assistance package also contains EUR 30 m subsidy to self-employed (100 % of personal income tax paid in 2019, ranging from EUR 100 to 22,000); EUR 30 m subsidy to pay testing staff for coronavirus (EUR 12 per test); and EUR 2 m to cover marketplace tax – up to EUR 300 per person.
Subsidies can be allocated until June 30th, 2021.
