Serbia: Expanded relief benefits and direct aid to businesses (COVID-19)
Serbia: Expanded relief benefits and direct aid
The government has granted additional relief benefits and direct aid to business entities affected by the coronavirus (COVID-19) pandemic.
A release (published in the official gazette on 31 July 2020) sets out the eligibility criteria for the additional relief. Businesses that are eligible for the relief benefits and direct aid include:
- Business entities (entrepreneurs, micro, small, medium and large entities, as well as branch offices and representative offices) that have qualified and received a direct aid pursuant to a July 2020 decree
- Business entities that could have qualified but did not apply for the initial relief or that registered after the deadline for application for the initial set of measures (15 March 2020) but no later than 20 July 2020 are also eligible for the additional relief benefits
Businesses that are not eligible for the extended relief benefits and direct aid include:
- Entities that have downsized their labor force by more than 10% during the period from 15 March 2020 to 10 April 2020
- Users of public funds covered by the “list of beneficiaries of public funds” as of 24 April 2020
- Entrepreneurs that registered a temporary cessation of business activity before 15 March 2020
- Banks, insurance and reinsurance companies, voluntary pension funds, financial leasing providers, payment institutions and electronic money institutions
- Legal entities that lost the right to relief benefits because of their failure to maintain conditions as prescribed by the decree (such as the prohibition against dividend payments, or downsizing the labor force by more than 10%)
Read an August 2020 report [PDF 374 KB] prepared by the KPMG member firm in Serbia
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.