Bulgaria has extended the 60/40 wage subsidy—a response to the coronavirus (COVID-19) pandemic—through 30 September 2020.
The 60/40 wage subsidy program allows Bulgarian authorities to finance 60% of the wage costs (including the employers' social security contributions) of businesses that, due to the COVID-19 pandemic, would otherwise lay off workers. The relief generally is available for businesses in sectors that have been most affected by the health crisis including retail, tourism, passenger transport, culture, sports activities, amusement and recreation activities, and others.
The 60/40 wage subsidy was scheduled to expire 1 July 2020, but has been extended by a Council of Ministers’ Decree No. 151 (3 July 2020). The payment of funds under the new decree will commence once the European Commission issues a resolution stating that the extension is compatible with EU rules.
Read a July 2020 report [PDF 111 KB] prepared by the KPMG member firm in Bulgaria
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