In the labor field, we highlight the entry into force of a measure to support families:
- Child care allowance
With the entry into force of the State Budget, as of today, the child care allowance now corresponds to 100 of the reference remuneration. So far, this allowance corresponded to 65 of the reference remuneration.
Context of support and incentives
As part of the support and incentives, the latest updates follow:
COVID-19 Economic Helpline
Applications are open to the COVID-19 Economic Support Line, a financial instrument that allows Portuguese companies in the sectors most affected by the new coronavirus pandemic to finance, under better price and term conditions, their treasury needs.
With an overall allocation of EUR 3 billion, this Line is for Micro, Small and Medium-sized Enterprises, certified by the IAPMEI Electronic Declaration, as well as Small Mid Cap and Mid Cap, located in national territory, which develop activity framed in the specific list of CAE (contained in pages 35 to 40 of the Disclosure Document), and provides the following specific lines:
- Covid Industry Line \\ €1,300M Endowment – Link
- Covid Restoration Line \\ 600 M€ Endowment – Link
- Line Covid Tourism (Developments and Accommodation) \\ Endowment of 900 M€ – Link
- Line Covid Tourism (Travel Agencies, Tourist Animation and Event Organization) \\ Total endowment of 200 M€ – Link
The credit operations to be concluded under these lines are translated into short- and medium-term bank loans and are intended exclusively for the financing of cash requirements.
- Microenterprises, SMEs, Small Mid Cap and Mid Cap with:
- Positive net situation in the last approved balance sheet; Or
- Negative net situation and regularisation in interim balance sheet approved up to the date of operation.
- Maximum per company: 1.5 million euros (microenterprises €50,000; small businesses €500,000; another €150,000) with the possibility of submitting an application to more than one specific line
- Mutual guarantee: up to 90 of the outstanding capital
- Grace period: up to 1 year
- Operating term: 4 years
- Applications from the participating banks, until 31 December 2020
Credit Lines Capitalize COVID-19
- Individual entrepreneurs may apply on behalf with organised accounting;
- Companies with less than one full year of activity may apply as long as they are classified as risk tier “C”, but have to demonstrate that they have non-negative equity;
- From 24.00 on March 27, applications from companies with Codes of Economic Activity (CAE) indicated in the FAQ’s will no longer be accepted by mutual guarantee companies indicated in the FAQ’s, which will be covered by other Specific Credit Lines;
- An enterprise with ineligible primary CAE may apply on the basis of secondary CAE, if eligible, if the investments submitted in the transaction are proven to be allocated to those CAEs.
How can Moneris help?
Our vast and multidisciplinary team of professionals, which operates in the most different areas of management, promotes a holistic approach in responding to this extraordinary situation, both in crisis management and strategic redefinition, in the information of support for the taking decision-making, minimising its tax and labour effects, optimising national and European support and incentives, as well as relaunching the activity after the critical period.
Our mission has always been to support our customers, create value and exceed their expectations. In this time of greatest difficulty, we are even more committed to helping us to overcome this challenging moment together.