Service Public (19.11.2020) As part of the Principality's economic recovery plan, the Government has decided to renew the Partial Exemption from Employers' Charges (EPCP) measure . From now on, new sectors of activity that have been permanently impacted are included, and the turnover ceiling is raised to 5 million euros achieved in 2019, instead of one million previously. In accordance with the Ministerial Decision of October 1, 2020, this mechanism aims to allow companies, strongly and durably impacted by the Covid19 crisis, to benefit from a partial exemption from the employer's share of Autonomous pension fund (CAR) and Social services compensation fund (CCSS) contributions for a given period. The measure is valid for the months of August to December 2020.
The Partial Exemption from Employers' Charges (EPCP) of Autonomous pension fund (CAR) and Social services compensation fund (CCSS) contributions was renewed. From now on, new sectors of activity that have been permanently impacted are included, and the turnover ceiling is raised to 5 million euros achieved in 2019, instead of one million previously. The measure is valid for the months of August to December 2020.
Principles and Conditions
As part of the Principality's economic recovery plan, the Government has decided to renew the Partial Exemption from Employers' Charges (EPCP) measure . From now on, new sectors of activity that have been permanently impacted are included, and the turnover ceiling is raised to 5 million euros achieved in 2019, instead of one million previously.
In accordance with the Ministerial Decision of October 1, 2020, this mechanism aims to allow companies, strongly and durably impacted by the Covid19 crisis, to benefit from a partial exemption from the employer's share of CAR and CCSS contributions for a given period.
The measure is valid for the months of August to December 2020.
For EPCP beneficiaries
Important information:
Employers who were able to benefit from the EPCP in July and / or August do not have to renew their application to the Welcome Office. They must, however, make the usual declarations to the Monaco Social Funds within the time limits in force.
For new applicants
Conditions of eligibility
- Be duly registered in the Principality's Trade and Industry Register or have a ministerial authorization
- Belong to one of the
EPCP - activity sectors targeted by the measure, namely commerce, catering, tourism, culture, sport and events - Have resumed activity (in other words, no longer be subject to an administrative closure due to Covid19)
- Have achieved a turnover excluding tax (tax refund included) of less than 5 million euros in 2019
- Be able to attest to a loss of turnover of 20% in September 2020 compared to September 2019
- Undertake not to dismiss employees for 1 year - excluding serious misconduct or incapacity - and failing this, reimburse the amount of employer contributions assumed by the State
It should be noted that the EPCP can be combined with other specific aid received under support measures for companies impacted by the Covid19 crisis (RME, AS, Guarantee Fund, CTTR).
State capital companies, as well as Associations and Federations, which receive a State subsidy during the year cannot benefit from the EPCP .
Period covered by the measure
The Partial Exemption from Employers' Charges relates to contributions for the month of August to December 2020.
If this measure were to be extended by government decision beyond October, the information will appear on this same page.