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There are several support measures for companies and workers to deal with the pandemic, including simplified layoffs and tax deferrals, and despite the end of the state of emergency, they will continue.
The measures, which can be found on the Government’s website, have already been modified and adjusted to the known needs and have a longer time limit than the state of emergency measures, with different deadlines.
Portugal will end on Saturday, May 2, the third 15-day period of a state of emergency, which began on March 19, and the government is expected to announce measures today to continue fighting the pandemic.
These are some of the main measures:
+++ Simplified dismissal +++
This scheme, to help companies maintain employment contracts in the crisis caused by the pandemic, is available to:
– Employers in situations of business crisis that have their situation regularized before Social Security and the Tax Authority and to which private law applies: commercial companies, regardless of the corporate form (for example, sole proprietorship, limited liability company and company limited liability), cooperatives, foundations, associations, federations and confederations, including those with the status of Private Institution of Social Solidarity (IPSS);
– Freelancers who are employers.
To access the dismissal, companies must be:
– In a “business crisis situation” due to the “total or partial closure of the company or establishment, derived from the duty to close facilities and establishments” in accordance with the measures decreed by the Government;
– In “total or partial interruption of the activity of the company or establishment that results from the interruption of global supply chains, or from the suspension or cancellation of orders”;
– With an “abrupt and abrupt drop of at least 40% of the billing, in the period of 30 days before the request with the competent Social Security services, with reference to the monthly average of the two months prior to that period, or the same period of the previous year or, for those who started the activity less than 12 months ago, in the average of that period “.
This is “extraordinary financial support attributed to the company, per employee”, exclusively for the payment of wages, during periods of temporary reduction of working hours or suspension of employment contracts.
In this context, “the employer is entitled to Social Security support in the amount of 70% of two thirds of the normal gross salary of each covered worker, up to a limit of 1,333.5 euros per worker, to support the payment of wages” .
The employer may choose to reduce the normal work period, in which case compensation is awarded to the extent necessary to, together with compensation for work performed inside or outside the company, guarantee the minimum amount of two-thirds of the compensation. normal gross of the worker, or the value of the Guaranteed Minimum Monthly Remuneration (RMMG) according to whichever is greater.
Workers receive a minimum wage compensation equal to two thirds of their gross salary (without discounts), which cannot be less than one RMMG (635.00 euros) or more than three RMMG (1,905.00 euros).
According to the diploma, the same company can only have a portion of the workers on “layoff” and benefit from other supports at the same time, and cannot fire while benefiting from the support, even within the next 60 days. They can then receive extraordinary financial support from the IEFP – Institute of Employment and Vocational Training, in the amount of 635 euros multiplied by the number of workers who received the support.
+++ Credit arrears +++
The Government decided to institute a credit moratorium on financial institutions, to support families and companies in a scenario of sharp drop in income.
“This moratorium is aimed at individuals, sole proprietors (ENI), IPSS, SMEs and other companies in the non-financial sector. In the case of individuals, all loans for permanent home ownership are covered. For ENI, IPSS [instituições particulares de solidariedade social], SMEs and other companies in the non-financial sector, the plan covers loans and other credit operations essential for business activity. “
This moratorium will remain in force for six months, until September 30, 2020, and “during this period, the credit agreements are suspended; on the other hand, the contracted credit term will be extended in the future for another six months.”
During this period, beneficiaries will not have to pay principal or interest.
In addition, the Government has prohibited the total or partial revocation of all the lines of credit already contracted and the loans already granted, guaranteeing the availability of the amounts already committed to these clients, whether they have been used or not.
People domiciled in Portugal are covered by this regime:
– In a situation of isolation or prophylactic illness, provide assistance to children or grandchildren, or be in a situation of “dismissal”, as well as those who are unemployed
– The workers of the entities, whose establishment or activity has been subject to closure during the period of state of emergency.
Companies, sole proprietors and IPSS with headquarters or domicile in Portugal.
– That their situation be regularized with the Tax and Customs Authority and Social Security, not including until April 30, 2020, for this purpose, the debts contracted in March of this year.
“Entities with credits in which there is a default or non-payment of cash benefits for more than 90 days with the institutions are not covered,” according to the government.
It is also possible to request that only capital repayments, or part of them, be suspended.
+++ Lines of Credit (Treasury Support) +++
The Government designed and made available several lines of credit to support companies.
Credit lines capitalize 2018 – COVID-19
Characteristics:
– For SMEs
– Total allocation of 400 million euros;
– Maximum per company: 1.5 million euros;
– Guarantee: up to 80% of the outstanding capital;
Line of credit for microenterprises in the tourism sector
Characteristics:
– For micro-companies in the Tourism sector, up to 10 jobs and whose annual turnover or annual balance does not exceed two million euros.
– Total allocation of 60 million euros;
– Loan amount: 750 euros per month for each existing job in the company on February 29, 2020, multiplied by a period of three months, maximum of 20,000 euros;
Line of credit for the restaurant sector and the like
Characteristics:
– Companies (from micro-companies to ‘midcaps’) in the catering and similar sectors.
– Total allocation of 600 million euros;
– Maximum per company: 1.5 million euros;
– Guarantee: up to 90%;
Line of credit for travel agencies, tourist entertainment, organization of events and the like.
Characteristics:
– Companies (from micro-companies to ‘midcaps’) in the travel agency, tourist entertainment, organization of events and similar sectors.
– Total allocation of 200 million euros;
– Maximum per company: 1.5 million euros;
– Guarantee: up to 90%;
Line of credit for tourist companies.
Characteristics:
– Companies (from micro-businesses to ‘midcaps’) in the tourism sector (including tourism developments and tourist accommodation)
– Total allocation of 900 million euros;
– Maximum per company: 1.5 million euros.
– Guarantee: up to 90%;
Line of credit for the industry: textiles, clothing, footwear, extractive industries and the wood industry.
Characteristics:
– Companies (from micro-companies to ‘midcaps’) in the textile, clothing, footwear, extractive industries, cork and wood sectors.
– Total allocation of 1,300 million euros;
– Maximum per company: 1.5 million euros;
– Guarantee: up to 90%;
Measures within the scope of business incentive schemes.
There are three measures in the scope of business incentive schemes:
– Acceleration of the payment of incentives to companies, as an advance.
– Postponement of the repayment period of the reimbursable subsidies, within the scope of QREN, PT2020 and Instituto do Vinho e da Vinha;
– Expenses incurred with initiatives or actions canceled or postponed due to covid-19 and within the scope of PT2020 are eligible;
– The impact of the pandemic will be considered in the evaluation of the contractual objectives and there will be no penalty for the insufficient implementation of actions or objectives resulting from the covid-19.
Export support measures.
By increasing the lines of credit insurance, with state guarantees, it will support the export and diversification of clients, particularly to markets outside the European Union.
– Credit insurance line for the metallurgical, metallurgical and mold sectors: more than 100 million euros;
– Line of credit insurance for foreign works: more than 100 million euros;
– Short-term export credit insurance line: more than 50 million euros.
Companies have to obey a series of conditions (for example, not having debts with Finance or Social Security) or demonstrate that they are in a crisis situation due to the pandemic.
+++ Telecommuting +++
The Government designed a program to support citizens, public and private organizations and schools, in collaboration with companies in the technology sector, to provide capacity and applications for collaborative work under preferential conditions, to help with telework, when possible. .
+++ Individual Entrepreneurs +++
The Government has decreed that sole proprietors “with income derived from the exclusive exercise of any commercial or industrial activity” are, for this purpose, “considered independent workers, so that all exceptional and temporary measures to respond to the epidemic of covid- 19 aim at freelancers “cover them.
In this way, they can access the following measures:
– Allocation of sickness benefit.
– Exceptional family support for self-employed workers;
– Extraordinary support to reduce the economic activity of independent workers;
– Postponement of the payment of contributions for self-employed workers (without eliminating the obligation to file the quarterly declaration);
– Extension of the term of compliance with tax obligations;
– bank moratorium;
– Extraordinary support for the maintenance of employment contracts in a business crisis situation (simplified ‘dismissal’), with respect to its workers.
+++ Deferral of taxes and contributions +++
Measures to deal with the pandemic include deferring the payment of contributions to employers in the private and social sectors with:
– Less than 50 workers;
– A total of workers between 50 and 249, provided that they have a fall of at least 20% of the invoice communicated through the electronic invoice in the months of March, April and May 2020, compared to the same period of previous year or, for those who started the activity less than 12 months ago, the average of the elapsed activity period;
– A total of 250 or more workers, provided they have a drop of at least 20% of the invoice communicated through the electronic invoice in the months of March, April and May 2020.
– They are a private institution of social solidarity or equivalent;
– belong to the closed sectors according to the terms of Decree No. 2-A / 2020, of March 20, or in the aviation and tourism sectors, in relation to the establishment or company actually closed;
– Suspend its activity, by legislative or administrative determination, in relation to the establishment or company effectively closed.
– They are self-employed.
With this measure, contributions made by the employer and independent workers, which are due in March, April and May 2020, can be paid as follows:
– One third of the value of contributions is paid in the month of maturity;
– The amount of the remaining two thirds is paid in equal and successive installments in the months of July, August and September 2020 or in the months of July to December 2020.
Deferred payment of social security contributions is optional and does not prevent the full payment of social security contributions owed by employers and can be combined with other types of support.
The late payment determines that the missing entity no longer has access to the scheme.
+++ Portugal 2020 +++
Portugal 2020 will review some aspects of its financing to speed up the payment of funds.
– The almost immediate payment of expenses already incurred and paid to suppliers will be promoted;
– Automatic deferral of benefits will be instituted for the reimbursement of incentives for a period of 12 months. These two measures will inject or save financial resources in companies that receive funds, in the order of 400 million euros.
The program will also consider the pandemic as a “force majeure” to simplify the adjustment of projects, in terms of schedule, financial programming, maximum costs, or other types of limits imposed by legislation or in tender notices.
The expenses incurred by the promoters as a result of the cancellation or postponement of actions and / or initiatives will also be considered eligible.
+++ Managing partners +++
After a confusing period at the beginning of the measures, the Government decided to clarify the situation of the managing partners, determining the following:
Without dependent workers:
– They can access extraordinary support for the reduction of planned economic activity for the self-employed.
– The managing partners of companies, as well as members of statutory bodies of foundations, associations or cooperatives with functions equivalent to those provided that they do not employ employees and are exclusively covered by social security systems in that capacity, can access this support for. Or that in the previous year they had their invoices communicated through an electronic invoice of less than 60 thousand euros.
Must be:
– In a proven situation of total stoppage of their activity or the activity of the respective sector, as a result of the pandemic
– In a situation of abrupt and abrupt rupture in at least 40% of the billing in the period of thirty days before the request with the competent Social Security services, with reference to the monthly average of the two months prior to that period , or in view of the homologous period of the previous year or, for those who started the activity less than 12 months ago, on the average of that period.
Characteristics:
– Duration: one month, extendable monthly up to a maximum of six months;
– Maximum limit: 438.81 euros or 635 euros, depending on whether income is declared less than or equal to / greater than 658.22 euros
– Not cumulative with the social protection measures for diseases and paternity applicable to independent and autonomous workers.
– It does not confer the right to exemption from the payment of Social Security contributions.
Management partners with dependent workers can benefit from:
– Simplified dismissal regime for its workers;
– Extraordinary financial incentives to support the normalization of the company’s activity.
– Temporary exemption from the payment of Social Security contributions, in relation to the remuneration of covered workers and members of statutory bodies, during the period of “dismissal”.
All managing partners can also use other approved measures to support companies, such as:
– credit hours;
– credit lines;
– Deferment of rent payments;
– Business incentive systems;
– Extension of the term of compliance with tax obligations.
+++ ‘Home’ +++
The government also defined new measures to support the “start-up”.
Startup RH Covid19
– Promotes financial support for the ‘start-up’ through an incentive equivalent to a minimum wage per employee (up to a maximum of 10 employees), as a way to overcome the immediate lack of liquidity.
Startup voucher extension
– Extension of the validity period of the assigned ‘Start Vouchers’, for a period of three months, equivalent to the perspective of the duration of the pandemic, as a way to overcome the immediate lack of liquidity on the part of the ‘start’.
Covid Incubation Valley19
– Vale Incubação Covid-19 aims to provide support to a startup with less than five years (currently one year), by contracting incubation services, with the support in the form of a 100% non-refundable incentive.
Financing ‘Mezzanine’
– This measure aims to inject liquidity in these companies through a loan (supplies) convertible into capital, after a period of 12 months, applying a discount rate that avoids the dilution of the promoters.
Covid-19 -PV
– Launch of Portugal Ventures Call (call) for investments in startups to reinforce liquidity.
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