At yesterday's meeting, the Government of the Republic of Serbia adopted a conclusion regarding direct grants and fiscal benefits to business entities in the private sector as a form of support for the economy in the fight against the negative consequences of the coronavirus.
The new package of economic measures includes the payment of 60 percent of the minimum wage twice, as well as the postponement of taxes and contributions on wages for one month. The adopted package of economic measures to support the economy is worth 66 billion dinars.
The measures will begin to be implemented immediately, so the first 155 euros will be paid into the special covid account of employers by August 10, while the second payment will be in September. This is about 1.055 million employees in 235,000 economic entities.
All those who were paid direct benefits in July, and belong to the group of micro, small and medium economic entities, will be automatically registered for the payment of direct benefits.
Minister of Finance Siniša Mali assessed that the adoption of the legal framework for the implementation of the second package of economic measures is an extremely important step by the state that will enable the preservation of jobs, but also production capacity.
He added that the new package of measures builds on the previous one, for which 5.1 billion euros were allocated, and that the National Bank of Serbia (NBS) also met the citizens and the economy with a new moratorium on loan payments for two months.
Micro, small and medium-sized businesses that were founded between March 16 and July 20 should apply for the use of the measures, given that they were not entitled to the first package help.
It will be for them once received direct benefits in September in the amount of 120 percent of the minimum wage per employee, and they need to submit the PPP - PD form by September 15, on which they will put January 5, 2021 as the due date of taxes and contributions.
As for business entities that are registered as entrepreneurs, who, in accordance with the relevant tax regulations, do not submit the PPP-PD form, they will be paid direct benefits once in in September without any additional engagement. If business entities do not want to use these funds, i.e. they are not able to fulfill the obligations arising from these benefits, they do not have to spend them and at the end of this cycle of measures, they will be returned to the state budget from a dedicated account.
When it comes to the conditions for using the measures, employers have an obligation not to reduce the number of employees by more than 10 percent in a period of three months from the payment of the last direct benefit, i.e. until the end of the year. As for large legal entities, which are classified in this way according to the financial statements for 2018, they will be paid direct benefits if they submit by August 15 a list of persons for whom the right to receive non-refundable funds for June and July is exercised.
The same rules apply to them as before - they will receive 50 percent of the minimum wage per employee who had a work stoppage of at least 15 working days in the two months.
The payment will be made to an already opened covid account and direct payments can be used exclusively for the payment of wages and salary compensation to employees. Special dedicated accounts will also be opened for newly established business entities that wish to use aid measures. Business entities are obliged to use the received funds no later than October 31, and after that deadline, the special accounts will be closed, and the unused funds will be returned to the budget.
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