The Slovak government has prepared measures that are designed to reduce the negative impact of the coronavirus epidemic on the country’s economy. The authorities suggest introducing deferrals on loans and extend the deadlines for filing tax returns
On March 16, Minister of Economics Peter Žiga introduced a package of economic measures designed to reduce the negative economic impact of the coronavirus epidemic on the economy.
As measures to support entrepreneurs, in particular, it is proposed to postpone the deadline for filing a tax return on income tax from March 31 to June 30, 2020. The ministry also proposed to cancel the payment of social and medical contributions for the self-employed (samostatne zárobkovo činné osoby) for three months and compensate them over the next 18 months.
For employees, the Ministry of Economy proposes to change the conditions of the childcare allowance (ošetrovné na dieťa, OČR) for the quarantine period: if one of the parents stays at home with the purpose of caring for the child, during this period he will receive 80% of the average wage. If one of the parents or both cannot fail, the state can issue them a voucher for 600 euros to cover the costs of the nanny.
A package of measures to support the economy includes items such as the possibility of deferring repayment of a loan and mortgage to a bank. The government is also negotiating the possibility of freezing interest and principal payments for individuals and legal entities. In compensation, the government will allow banks not to pay bank charges.
The government will also facilitate the provision of short-term and low interest loans for enterprises in certain sectors (for example, in the field of catering).
In addition, the Ministry of Economy is ready to support the exemption from social and medical contributions of workers’ salaries in those enterprises that currently cannot provide employees with work. The government is also ready to provide subsidies for job retention to medium and small enterprises, individual entrepreneurs.
The government is also ready to compensate for a part of energy costs, to ensure the possibility of using European structural and investment funds to overcome the crisis, not to fine companies for violating government contracts and to limit control activities for companies and entrepreneurs.
Most of the measures have also been agreed upon by SaS Chairman Richard Sulik, who will become the new Minister of Economics.