CORONAVIRUS TASKFORCE UP-DATE - State will extend current state aid also for large enterprises
Information stated below is of general nature and does not necessarily consider specific conditions of your case. For legal assistance of your specific case, please, do not hesitate to contact us.
The Government will introduce specific measures in order to help large enterprises. The Government will integrate large enterprises into the aid scheme, regardless number of their employees.
The representatives of employers presented following requirements during the negotiations with the Government:
- state shall assume part of employer’s wage costs of employees and these wage costs shall be paid in the following proportions: 60 % by state, 20% by employer, 20% by employee,
- suspending the effect of some sections of Bankruptcy and Restructuring Act,
- moratorium in enforcement procedure,
- preference of restructuring of the company over its bankruptcy,
- invoicing only real consumption of electricity and gas,
- allocating sufficient credit resources through Export-Import Bank of the Slovak Republic (so called Eximbanka), the Slovak Guarantee and Development Bank and the Slovak Investment Holding so that they can be used by business entities,
- granting competencies to the Minister of Economy to provide state aid to the enterprises in individual cases,
Above-mentioned requirements are currently evaluated by the relevant ministries.
In the meantime, Ministry of Labour introduced basic aid framework to the large enterprises, involving:
- contribution to keep a job position, as it was introduced earlier for small firms and sole traders,
- cancelation of the EUR 200,000 limit on the amount of aid granted, and therefore the granted aid may be higher.
According to the statement of the Minister of Labour, deferral of bank instalments shall not be part of aid package to the large enterprises. Therefore large enterprises shall negotiate this topic with banks individually.
We will inform you as soon as further details will be available and relevant measures adopted.