Companies should maintain their current employment levels (i.e. no lay-offs), in order to be eligible for the above stated provisions.
Companies that re-open are entitled to maintain up to 60% of their total workforce in temporary cease of employment.
Companies in sectors highly impacted by the pandemic are entitled to maintain 100% of their workforce in temporary cease of employment for May, June and July. Such sectors include hospitality, leisure, tourism, transportation and education.
A special employment mechanism will be put in place from June 1 to September 30, 2020. Its aim is to support employment by subsidising up to 60% of employees’ salary in companies/sectors that are highly impacted by the pandemic, provided that the contractual obligations and right among companies and employees are not altered.
Provision of special unemployment benefit for part-time employees in tourism.
Financial Statements Reporting Provision
Other Tax Measures
State subsidies & Loans
Corporate Loans Provision