800 Euros for employees without work due to business closures. See all the support measures
ATHENS. Finance Minister Christos Staikouras announced new measures to support the economy and businesses.
The new measures include the following:
- Postponement of business tax and contributions payments. These are horizontal measures and apply to the month of March - the period will be extended if necessary. Prerequisite for the postponement is that no employees are laid off.
- Funding for businesses in the form of repayable advances for all businesses that have been affected. Total funding of 1 billion Euros.
- All employees whose work contracts have been postponed due to mandatory business closures will receive 800 Euros in compensation in April. This measure applies to approximately 500,000 employees.
- All tax obligations payable in March are postponed for four months.
- The tax rate for products necessary for protection against the spread of coronavirus - such as masks, gloves, antiseptics etc. - is reduced from 24% to 6%. The aim of this measure is to reduce the cost of the products.
- We will be taking measures with regard to the purchase of real estate. Businesses which have been affected will pay 60% of the rent for the months of March and April. The same applies to employees who lose their jobs.
- ENFIA (property tax) 2020 will be based on the previous calculations. The new objective valuations will come into force from next year.
- All monies owed by the State to individuals will be paid immediately.