Economic and tax measures to support businesses affected by the coronavirus (COVID-19) pandemic include measures from draft laws or provisions that have already been enacted.
Among the measures to support businesses, the government intends to develop a list of industries that have been affected by the COVID-19 crisis and then anti-crisis measures will be proposed. Small and mid-sized businesses operating in these identified industries will be allowed a six-month tax deferral for all taxes (excluding value added tax (VAT)) and social insurance payments (but only for micro-enterprises).
Another measure would allow for a decrease of the social insurance rate from 30% to 15% for salaries exceeding the minimum statutory wage.
Other tax measures intended to provide relief from the effects of the COVID-19 pandemic include:
For more information, contact KPMG’s Global Head of International Tax:
Rodney Lawrence | +1 (312) 665 5137 | email@example.com
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