Poland’s „Anti-crisis shield” to help entrepreneurs and employees

Poland’s „Anti-crisis shield” to help entrepreneurs and employees

On March 31, 2020 Poland’s government has approved a package of measures in order to protect individual and company taxpayers facing administrative challenges and liquidity/cash-flow issues in the face of the COVID-19 threat. The government is providing relief in respect of social security in terms of deferments of payments for entrepreneurs and special arrangements for making arrears payments.

The government’s anti-crisis package for entrepreneurs and employees, worth approx. PLN 212 billion, i.e. nearly 10% of GDP.

The anti-crisis shield will cover 5 pillars:

  1. Employees’ safety – value of PLN 30 billion.
  2. Enterprise financing – value of PLN 74 billion.
  3. Health care – value of PLN 7.5 billion.
  4. Strengthening of the financial system – value of PLN 70.3 billion.
  5. Public investment programme  – value of PLN 30 billion.

Major activities of the anti-crisis package:

 

Support in the payment of remunerations to employees in companies with problems.

  • The country will cover half of the employee’s remuneration.
  • The subsidy limit will be 40% of the average remuneration in 2019.

Deferral of payment of social security contributions by 3 months.

  • Later payment of contributions can made in instalments.
  • Deferral and payment of social security contributions in instalments – free of charge.

Payment by the Social Insurance Institution (ZUS) of a one-time monthly benefit in the

amount of approx. PLN 2 thousand gross.

  • For persons employed under civil law contracts (order contracts, contracts of commission).
  • For self-employed persons.

 

Micro-loans for entrepreneurs of up to PLN 5 thousand.

Extended BGK de minimis guarantee scheme for small and medium-sized companies.

  • The collateralisation level of the loan will be increased from 60% to 80%.
  • Support in leasing for companies with problems.

The Industrial Development Agency will allocate PLN 1.7 billion for the refinancing of lease agreements of  transport companies.

 

Currently, the Polish govenrment is working on the updated 2.0 anti-crisis package.

Latest news on the Polish anti-crisis package avaiable at: https://www.premier.gov.pl/en/news.html

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