ECONOMY

Seasonal businesses to get gov’t aid for social security contributions

seasonal-businesses-to-get-gov-t-aid-for-social-security-contributions

A ministerial decision includes 31 categories of professional activities for which the government will subsidize 100% of employers’ social security contributions.

These sectors include wholesale and retail trade, food service, cultural activities, architectural and engineering works, property rental and leasing, travel agencies, sports activities and entertainment and leisure.

The companies that benefit from the subsidy are only those involved, directly or indirectly, in the tourism business and are, therefore, highly seasonal.

A company wishing to apply for the subsidy must prove that at least 50% of its 2019 pretax earnings occurred in the third quarter (July-September).

The employers’ social security contributions for the same period in 2020 will be fully subsidized, as stated.