The coronavirus financial measures announced

30 March 2020
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The measures to mitigate the effects on the Greek economy from the coronavirus are being made by the Ministers of Finance, Labour and Development Christos Staikouras, Ioannis Vroutsis and Adonis Georgiadis, respectively.
The government’s financial staff announced on Monday morning the extension of the measures to support the economy in the wake of the crisis. In total, the measures announced for April covered 1.7 million 800,000 salaried businesses and 700,000 freelancers.

As Finance Minister Christos Staikouras announced:

– The 800 euro allowance is extended to more employees. In total, there are 1.7 million employees, covering 81% of all private sector employees. This aid provided to those who are suspended from work is tax-free and cannot be revoked.

– Insurance contributions to the nominal wage are covered for 45 days and provision is made for the suspension of certified debts to the tax office for 4 months at a discount of 25% if paid in due time

– In total, around 800,000 companies are covered through different schemes, representing 76% of all legal entities. Few businesses are not covered and 86% of the CADs are covered in total.

For this 99% of businesses it is foreseen to suspend the payment of VAT and installments of certified debts to the Tax Office. Taxes on taxation are subject to a 25% discount if paid in due time.

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