Cap Vert: Covid-19: Government announces financial and fiscal measures to support companies

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asemana.publ.cv (25.03.2020)

Government announces measures related to labour markets and social protection to face the emergency:
- Payment of 70% of the gross salary to the worker in the case of the suspension of the employment contract by the employer and INPS (National Institute of Social Security), in the following proportion: a) 35.% payable by the employer b) 35.% by INPS.

- Unemployment allowance: reduction of the guarantee period in the period considered for the purpose of awarding unemployment benefit from 180 to 60 days in the period from April 1 to June 30, at the date of filing the application.

measures summary

Government announces measures related to labour markets and social protection to face the emergency:
- Payment of 70% of the gross salary to the worker in the case of the suspension of the employment contract by the employer and INPS (National Institute of Social Security), in the following proportion: a) 35.% payable by the employer b) 35.% by INPS.

- Unemployment allowance: reduction of the guarantee period in the period considered for the purpose of awarding unemployment benefit from 180 to 60 days in the period from April 1 to June 30, at the date of filing the application.

Measure date
Regions / Country
Topics
Global challenges
Document Type
Description/integral text (Internal-not for publishing)

MEASURES TO SUPPORT BUSINESS AND INCREASE ITS LIQUIDITY:

- Creation of lines of credit and guarantees

Credit lines supported by the banking system are guaranteed, in the global amount of up to PTE 4,000,000, with State guarantees that can reach 100% of the financing, with a grace period for capital and interest of up to 6 months and amortization over 4 years. 5 years.

Thus, four Credit Lines and a Guarantee Line are created as described below:

  • a) 1,000,000 contos for Large Companies in all areas of activity and guaranteed up to 50%;
  • b) 1,000,000 contos for Companies in the sectors of tourism, catering, organization of events and related sectors, travel agencies, transport, entertainment and the like, with guarantees of up to 80%;
  • c) 1,000,000 contos for Small and Medium Enterprises in all sectors of the activity with a guarantee of up to 100%;
  • d) 300,000 contos for Microenterprises in all sectors of the activity, with a guarantee of up to 100%;
  • e) 700,000 contos - Guarantee Line for Micro Small and Medium Enterprises, intended to support Public Procurement Operations.

Image removed. Settlement of outstanding invoices

Image removed. VAT refund

Image removed. Exemption in the payment of contributions to the INPS

TAX MEASURES:

  • - Payment in installments of VAT and withholding tax
  • - Suspension and extension of tax execution periods

MEASURES RELATING TO THE LABOR MARKET AND SOCIAL PROTECTION:

  • - Collective suspension of work

Assumption of 70% of the gross salary due to the worker pending the suspension of the employment contract by the employer and INPS, in the following proportion:

  • a) 35.% payable by the Employer
  • b) 35.% by INPS
  • - Unemployment allowance

Reduction of the guarantee period in the period considered for the purpose of awarding unemployment benefit from 180 to 60 days in the period from April 1 to June 30, at the date of filing the application.

  • - Prophylactic contamination isolation

Equivalent to the situation of illness with hospitalization of the situation of prophylactic isolation for 15 days of employees, motivated by situations of serious risk to public health decreed by the entities that exercise the power of health authority.

  • - Measures concerning the validity of documents

Acceptance by the public authorities, for all legal purposes, of the display of documents subject to renewal, the validity of which expires from the date of entry into force of the diploma implementing this measure or in the 15 days immediately before or after.