The Council of Ministers of 21 April approved the Royal Decree-Law 15/2020 with additional urgent measures to support the economy and employment, which incorporates a‘package’of more than 30 measures that strengthen business finance, provide tax support, facilitate economic adjustment, and protect employment and citizens.
As we say, this new regulation incorporates more than 30 measures that strengthen the financing of companies, offer support in the fiscal field, facilitate the adjustment of the economy, and protect employment and citizens.
Below are the most prominent measures that the Government has approved. Specifically, the following stand out:
- Unemployment benefit coverage is extended to laid-off workers during the trial period of a new job.
- The tax bases on taxes on the economic situationare adjusted, freeing up EUR 1.1 billion of liquidity for businesses, in particular SMEs and self-employed enterprises.
- VAT on the supply of health supplies from domestic producers to public, non-profit and hospitals is reduced to 0%, saving more than EUR 1 billion.
- VAT on books, magazines and electronic newspapers is also reduced to align it with that applicable to paper ones.
- The ICO’s 100 billion euro guarantee line will cover company promissory notes and strengthen the reciprocal guarantee companies of the Autonomous Communities.
- The Insurance Compensation Consortium is empowered to act as a reinsurerof credit insurance risks, which will strengthen the channeling of resources for commercial credit.
- The scope of ERTEs is increased due to force majeure to cover significant falls in activity in those sectors considered essential that have also seen their incomes reduced.
- The preferential nature of remote work is extended by two months,as well as the right to adapt the schedule and reduce the day.
- A mechanism is established for renegotiation and deferment of payment of business premises rentals.
- Notary tariffs for the novation of non-mortgage loans are reduced.
- Flexibility measures are taken to adjust to the current situation the regulation relating to certain sectors and activities, including those relating to ports, university research, technology centres, agricultural workers and cooperatives.
- A sports foundation with funds from the sale of audiovisual rights to football is created to help finance and provide stability to the federation sport, Olympic and Paralympic sport
If you have any questions or need any clarification about these new economic and social measures, you can contact
any of our advisors so we can help you.