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.

March / 2020

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.

Source: enikos.gr