Support announced by the Irish government
Irish companies have been affected by the restrictions and several measures taken by the government as a result of the Coronavirus. The majority of firms are reporting an adverse impact on revenue, while many note current or imminent cash flow difficulties and job losses. However, the same government has approved aid to make the consequences less drastic.
In order to support you in this difficult moment and in this period of uncertainty, at ISEA we have compiled a list of the measures taken by the government:
- Workers temporarily laid off due to the COVID-19 pandemic will have special support of 203 euros per week: Employer COVID-19 Refund Scheme
- The payment of January/February VAT and both February and March PAYE (Employers liabilities) is suspended. However companies are still required to file all other returns.
- “Finance in focus” A grant of up to 7,200 euros available to Enterprise Ireland and Údarás na Gaeltachta clients.
- 200 million package to support the most vulnerable enterprises, including a rescue and restructuring plan available through Enterprise Ireland.
- 200 million package for businesses impacted by COVID-19, carried out by the Strategic Banking Corporation of Ireland (SBCI).
- The Department of Employment Affairs and Social Protection offers assistance to employers to support payment for employees who have been temporarily placed on a shorter working week.
- Special support for borrowers has been agreed: Borrowers Support
Support announced by the Spanish government
Spanish companies are in a similar situation to companies based in Ireland. The measures adopted by the Council of Ministers have been approved as an economic and social shock plan, which are valued at a total budget of 200.000 million euros. If you want to know in detail all the measures, you can consult the official statement of the BOE. However, at ISEA we have compiled the most important points:
People who have reduced their income or become unemployed due to COVID-19 will have a moratorium on mortgage payments
The most vulnerable groups will have a moratorium on the payment of basic supplies (water, electricity and gas).
Automatic extension until September of the social bond to the beneficiary households.
Care for the elderly and dependents
300 million package to strengthen care for the elderly, the homeless and homes for the elderly and dependent.
Flexibility in municipal spending
The town councils will be able to use their surplus in social care items, such as care for dependence, social services and all kinds of social problems associated with the coronavirus crisis. Some 300 million euros will be allocated.
Authorization of ERTE
The ERTE processes (temporary employment regulation files) will be considered to have been carried out by force majeure and may be expedited. In addition, all workers affected by an ERTE will be entitled to receive unemployment benefits even if they do not comply with the minimum contribution period required to do so. Furthermore, the time that this benefit is received (counter to zero) will not be considered consumed.
Extension of unemployment benefit
No citizen will lose their rights to unemployment benefit if they cannot go to the employment offices because of restrictions.
Promotion of teleworking
Companies will receive significant provision for the purchase of computers and equipment to facilitate teleworking. In addition, workers will adapt or reduce their working hours to care for their dependents, with a 100% reduction in working hours possible.
Family Care Assistance
Any worker may request a reduction in working hours, including up to 100% for the care of a relative up to the second degree (grandchildren and grandparents).
Return of products
Interruption of the calculation of the time limit for the return of consumer products.
In ISEA we are in contact with the Chamber of Commerce, the Spanish Embassy in Ireland and other organizations to keep up to date with all the news about the COVID-19 measures.If you have any doubt, you can ask us, we are at your complete disposal.