Covid-19: The state allocates 51 million euros for the salaries of employees of exporting companies

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The government supported the rules developed by the MoE on support for exporting taxpayers to overcome the effects of the Covid-19 crisis. According to the State Revenue Service, 350 companies qualify for support. The available state budget funding for this purpose will be 51 million euros.

The support will take the form of a grant to compensate the economic operator for the wages of the Covid-19 crisis.

The support will be set at 25% of the mandatory state social insurance contributions paid by the specific company in 2019, but not more than 800,000 euros for a related group of persons.

Exporting taxpayers affected by the crisis will be eligible for support, the amount of exports of goods and services and the amount of delivery of goods and services in the territory of the European Union, except for Latvia, in 2019 reached at least one million euros.

Companies whose income from economic activities due to the Covid-19 crisis in one month in the period from April to June 2020, compared to the corresponding month of 2019, have decreased by 20%, will be eligible for support. Also, companies whose employees’ average monthly gross salary, for which mandatory state social insurance contributions have been paid, in 2019 is not less than 800 euros will be eligible for support. Also, the beneficiary will not be able to have a tax debt in excess of € 1,000.

It will be possible to apply for support until September 30 of this year, submit an application to the Latvian Investment and Development Agency (LIAA). LIAA will monitor the use of the allocated funds.

This support program has yet to be coordinated with the European Commission (EC), so support for tourism companies will be available once the EC has decided on the compatibility of business support with the European Union’s internal market.

The MoE stated that support would not be granted to areas such as arms and ammunition trade, tobacco production and trade, wholesale of beverages, accommodation and catering, real estate operations, travel and tourism services, meeting and trade fair organization services, creative, artistic and entertainment activities, sports activities, entertainment and recreation activities, gambling, fisheries and agriculture.

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