30,000 visitors and 40,000 calculations. KPMG's online tool 'the compensation calculator' has been extensively used to calculate the size of the COVID-19 relief packages for Danish companies since its launch a month ago. A number of the measures in the relief packages will be extended by one month to expire on 8 July 2020.
"It feels good to be able to help many small and medium-sized businesses in a difficult time. A lot of self-employed people have been in doubt about whether they could receive compensation at all, and we have been able to give them a better overview of the possibilities,” says Partner at KPMG in Denmark Mikkel Trabjerg Knudsen, who has been part of developing the calculator.
The compensation calculator can calculate the three main compensation schemes: temporary pay compensation, compensation scheme for self-employed persons and freelance workers and compensation for fixed costs.
"We have helped everyone – from the independent consultant to contractors with several employees, whom we have helped and guided in how to apply for temporary compensation for lost revenue,” says Mikkel Trabjerg Knudsen.
Companies who make use of the calculator have the opportunity to obtain non-binding advice to get a better understanding of the contents of the relief packages. An opportunity that many companies are taking advantage of.