Adjustments of the Intervention Act in Slovenia are expected to be adopted by the end of April 2020. The Intervention Act offered the first round of support for business in Slovenia during coronavirus. It came into force on 11th April 2020. As there were inconsistencies, the government has made a proposal of adjustments. They will include support for business owners, who were left out in the first round. We have collected the proposals for adjustments and will be summarizing them in the article.
Are you a company owner in Slovenia? Do you need help in understanding the governmental measures that your company could apply for? Attend our free webinars on governmental measures during coronavirus in Slovenia. Apply here or call our experts on +386 1 6006 270, Viber/Whatsapp +386 40 530 718 or write to us on data@data.si.
Data d.o.o. has been offering support to entrepreneurs with business in Europe for 30 years through company registration in Slovenia. Also, we provide professional accounting services . Additionally, we also have a specialized legal department that supports business owners with every aspect of business Slovenian legislation and expansion to a new market. They can also assist you in implementing the measures that the state offers to entrepreneurs during coronavirus outbreak. Also, they can help you to understand the adjustments. Also, they can consult in more detail about the payment of contributions under the new Act. We also follow the novelties that the state enforces to support the economy and can offer consultation. You can also follow us on Facebook.
Adjustments of the Intervention Act – what are the proposals of support for business owners?
The Intervention Act currently provides that employers are entitled to assistance if, in their estimation, they will have a decrease in income of more than 20% in the first half of 2020 compared to the same period in 2019. They also cannot exceed 50% of income increase in the second half of 2020 compared the same period in 2019. The government is considering a proposal for adjustments of these conditions.
The new proposal with adjustments states that the following business owners have the right to apply for state aid:
- those business owners who, due to the epidemic, have estimated that their income will decrease by more than 10% over the same period in 2019;
- if they have not operated throughout the entire years 2019 and 2020, then business owners whose average monthly income will decrease in 2020 by more than 10% compared to the average monthly income in 2019 can also apply,
- if they did not do business in 2019, those business owners whose average monthly income in 2020 will decrease by more than 10% from the average monthly income until 12th March 2020 can also apply
In case your company does not fulfill these conditions when submitting the annual financial report for 2020, you will subsequently have to return the aid.
Changes related to return of the aid – more favorable for business owners!
The government is also considering adjustments to the return of received aid. If the government approves the proposal, business owners would only have to return all assistance (including contributions) if their income decreased by less than a fifth in the periods indicated. According to the proposal, default interest would not have to be paid in the event of return of the aid. This is an adjustment from currently valid Intervention Law.
Are you a company owner in Slovenia? Do you need help in understanding the governmental measures that your company could apply for? Attend our free webinars on governmental measures during coronavirus in Slovenia. Apply here or call our experts on +386 1 6006 270, Viber/Whatsapp +386 40 530 718 or write to us on data@data.si.
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