Subsidies for business. Who, for what and how much?

Have you also heard about the emergency package that the Polish government has taken to “set up” the economy affected by the epidemic? The media report that the anti-crisis shield will allocate 45 billion euros to the most needy areas. We, like you, wonder how this money will be distributed. Just a remark: there are 45 billion in subsidies, and not all of them are about your honour. The programme includes 5 vectors of aid, of which banks are allocated in bold. Subsidies for business make up a third of this amount, which is about 70 billion PLN. Read more about who of the entrepreneurs will receive support during quarantine:

ZUS. Selfemployed and small companies (up to 9 employees) are exempt from paying the social contribution for spring. You can read the full terms and conditions here;

Microcredits up to 5 thousand PLN. Bonus: if you do not fire anybody during the quarantine period, the money may not be returned to the bank (source: Polskie Radio);

Compensation to employers of up to 40% of the national average wage for each employee of the company if there have been no cuts during the quarantine period;

Up to 490 USD will also be paid to performers who work under civil law contracts for forced downtime;

Reduction of rent to 90% and deferral of utility payments for trade and service companies if their operations are complicated by quarantine measures;

Credit holidays will be granted to those businessmen who apply for deferred payment. Only the interest rate on the loan will have to be repaid. By the way, you can use these services without fees;

Up to 180 days to refund customers for tour operators (by comparison, tourists have waited 14 days for their blood). It is also legal for travel agencies to compensate for their services with vouchers valid for one year;

If an entrepreneur helps counteract COVID-19 with a penny, the amount of donations will be deducted from taxable income;

PIT and other quarantine taxes will not be penalised for late payment.

It is strange that the most vulnerable tourist and hotel businesses to the coronavirus have not received subsidies from the anti-crisis shield programme. However, representatives of these industries have already asked the authorities to review the measures taking into account their particular disadvantage. Officials say that this programme was adopted as a matter of urgency, so we can expect new business privileges from them in the near future. We will monitor the changes and keep you informed.