There are many companies that have suffered the economic consequences of the coronavirus crisis, and a large number of them are having serious difficulties in moving forward; while many others have been forced to put the final closure as the situation has become unsustainable for their businesses.
In view of this situation, the Government has approved a number of aid and subsidies so that companies can deal with COVID-19,with the aim of alleviating the economy and giving a respite to the companies most affected.
If this is your case, at AYCE Laborytax we have developed this guide in which we review the aid and subsidies for companies against COVID-19,so that you can know them in detail and benefit from them.
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Business grants and grants versus COVID-19 you need to know about
> Tax deferral
One of the main aid and subsidies for companies against COVID-19 approved by the Government was the deferment of the payment of taxes.
The Tax Agency will allow companies to defer payment of their taxes for a period of six months,with the added value that no late interest will accrue during the first three months of deferment.
This deferment will be valid for IRPF withholdings, VAT over-passed fees and split corporate tax payments.
This help will be valid for companies whose turnover has not exceeded 6,010 million euros in 2019, and only for settlements whose filing and entry period was set between 13 March and 30 May 2020, provided that the amount of the debt does not exceed EUR 30 000.
> Deferral of industry loans
Another aid and grants for companies against COVID-19 is the possibility of deferring the repayment of loans granted by the General Secretariat of Industry and Small and Medium-sized Enterprises.
The requirement to access this aid is that the expiry period does not exceed 6 months from the entry into force of the Royal Decree-Law. The application must also be justified by the consequences of Covid-19. If this help is granted, the refund schedule will be re-adapted with new dates.
> Help with buying computers
Since during the coronavirus many companies have been forced to implement telework, the Official Credit Institute has created a 200 million euros funding line for the purchase of computers and computer equipment,so that they can meet the needs of workers so that they have to work from home.
> Export insurance
Insurance coverage of up to 2 billion euros is also created for exporting companies. This coverage will apply to working credits, and it is necessary to establish that the company is experiencing serious financing difficulties or has no liquidity due to the Covid-19 crisis.
> Helping companies in the tourism sector
Companies in the tourism sector have been arguably the most hit by the coronavirus, and as a relief measure, they will be able to access aid of up to 500,000 euros,as long as they are not in a situation of delinquency. The maximum repayment period shall be four years, with one year of deprivation.
> Innovation aids
The Government has also approved innovation aid through the Ministry of Science and the CDTI.
In this way, a reduction in the guarantees requested for R&D&I projects of companies approved as of 14 March 2020 will apply. With this assistance, companies will not be obliged to provide guarantees, and it is essential that the undertaking or project has the minimum solvency required by the CDTI.
These are some of the main grants and grants for companies against the Covid-19 that you will be able to access, with the aim of alleviating the economic difficulties generated by the coronavirus, as long as you meet the necessary requirements to access each of them.