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Examples of State-Sponsored Businesses & Independents

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Examples of State-Sponsored Businesses & Independents

Examples of how it will be calculated and who are the beneficiaries regarding the State Sponsorship Plan for Businesses & Self-Employed Employees in order to cover rents, installments, or other operating expenses of companies and self-employed employees were given by the Minister of Finance.

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Detailed Examples

Economic Activity: Catering Center

Turnover 2019: 685,251

Turnover Reduction: 36.5%

Subsidy: 8,411 Euros

Economic Activity: Supporting activities for the performing arts

Turnover 2019: 1.700000

Turnover Reduction: 90%

Subsidy: 49,438 Euros

Economic Activity: Wine production

Turnover 2019: 795,400

Turnover Reduction: 46%

Subsidy: 9,000 Euros

Economic Activity: Travel Agents

Turnover 2019: 318,000

Turnover Reduction: 95%

Subsidy: 9,000 Euros

Economic Activity: Cafeteria

Turnover 2019: 341,394

Turnover Reduction: 63%

Subsidy: 6,800 Euros

Economic Activity: Gyms

Turnover 2019: 311,584

Turnover Reduction: 80%

Subsidy: 8,900 Euros

Economic Activity: Entertainment Center (in full suspension from March 2020)

Turnover 2019: 3,000,000

Turnover Reduction: 69%

Subsidy: 190,000 Euros

It is pointed out that, in addition, companies and self-employed will continue to receive support for their wage costs, through the Plans that will be announced shortly by the Minister of Labor, Welfare and Social Insurance.

We remind you that the beneficiaries are companies and self-employed persons subject to VAT, who show a reduction in their turnover by more than 35%, due to the restrictive measures taken to address the COVID-19 pandemic compared to 2019. The company / self-employed an employee must not engage in any of the economic activities that will be announced with the announcement of the Plan within January.

Also the new companies which were established in 2020 and presented a reduced turnover of more than 35%, compared to the corresponding average turnover of their sector.

Source: www.philenews.com

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