20.03.2020 Business

Anti-crisis shield for business

The Prime Minister presented the most important actions of aid package, which aims to support entrepreneurs in the fight against coronavirus. The value of aid is to reach 211 billion PLN.

Anti-crisis shield – the five pillars of aid package

The anti-crisis package for companies announced by the government consists of 5 pillars:

  • Employees’ safety – PLN 30 billion.
  • Financing of enterprises – PLN 74 billion.
  • Health care – PLN 7.5 billion.
  • Strengthening the financial system – PLN 70.3 billion.
  • Public investment programme – PLN 30 billion.

The anti-crisis package – key proposals for companies

  • Possibility of deferring payments of PIT, CIT, VAT without any additional prolongation fees
  • Possibility of deferring or spreading ZUS contributions into instalments without additional prolongation fees
  • Postponement of the entry into force of the new JPK_VAT until 1 July 2020
  • Deferment of the deadline for reporting data to the Central Register of Real Beneficiaries (CRBR) until July 2020.
  • Possibility to settle the entire loss of the current year in 2021 by adjusting the 2019 CIT to the limit of PLN 5 million in case of a decrease in turnover by at least 50% in 2020 in relation to 2019
  • Co-financing of salaries of the employees working in companies that will suffer losses due to the coronavirus pandemic – 40 percent of the average salary for at least 3 months. The same percentage has to be covered by the employer, the employee has to agree to the reduction of pay by one fifth
  • Benefits for persons employed under civil-law contracts and the self-employed, i.e. payment of the guaranteed benefit from the Social Insurance Institution (ZUS) in the amount not less than 80% of the minimum wage – about PLN 2,000 gross monthly
  • Extension of the deadline for filing PIT tax returns until the end of May
  • Possibility of refinancing lease agreements together with credit holidays for transport companies by postponing payment of lease instalments
  • Possibility for medium and large companies to obtain capital or financing in the form of bonds from the PFR Investments fund – total value of PLN 6 billion. Loan interest subsidies of PLN 500 million for the enterprise sector
  • Loans for microenterprises with up to 9 employees in the amount of PLN 5 thousand paid out from the Labour Fund. The loan is to be non-refundable if the company does not decide to dismiss employees for the next 6 months
  • Facilities for foreigners – automatic extension of residence visas and temporary residence permits

The proposals will be addressed to the Sejm in the near future. According to the government’s announcement, the provisions of the special act are to enter into force in April 2020.      

Learn more: Legal situation of shopping centres’ tenants

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