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The government will provide subsidies to support companies whose billing fell during the pandemic.
The grants will be available to those whose annual turnover has fallen by at least 30%. from November 1, 2020 to January 31, 2021, compared to the corresponding period of 2019-2020.
Subsidies to companies whose turnover decreases by more than 30% will reach 25%. personal income tax (PIT) paid last year.
Economy Minister Aušrinė Armonaitė told the government meeting that this help to businesses is based on trust in business.
Arno Strumilos / 15min nuotr./Aušrinė Armonaitė
“We will rely on the turnover provided by the companies, which you will indicate, but both the State Tax Inspectorate and the Lithuanian Business Support Agency reserve the right to verify the data by coincidence until December 1 of this year”, said the minister.
“Those whose billing has not dropped will have to repay that grant or part of it. However, this is a lot of money for all of our taxpayers,” he added.
A.Armonaitė stated that this support is designed to be allocated to small and medium-sized businesses, and that other non-competitive forms of support will work for large businesses.
For companies that paid less than 2,000 last year. The grant will amount to 500 EUR.
The money will be available to all companies, except those operating in agriculture, fisheries, aquaculture, as well as credit and financial institutions.
15min nuotr./Pinigai
Beneficiary companies must meet several requirements, such as having at least one employee, not being reorganized, going bankrupt or liquidating. They will have to present a set of financial statements for 2019.
The subsidy granted will not be used by the company to pay dividends through the payment of capital to reduce the participants of the company,
Applications for support will be available on the STI website. A.Armonaitė said that independent companies will have the opportunity to file applications next week, and companies that belong to holding companies, a little later.
The first business aid package launched by the new government will also provide 30 million euros. for loans.
In February, the government must publish details of what the second business support package will look like for those affected by COVID-19. Its value will reach 150 million. euros.
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