Government measures in key jurisdictions 2nd edition final pages - Flipbook - Page 71
Portugal
Incentive package:
•
Deferral of 12 months for repayment instalments due up to 30 September 2020
in respect of reimbursable subsidies granted under the incentive schemes of
the National Strategic Reference Framework (Quadro de Referência Estratégico
Nacional) or Portugal 2020 without interest charges or any other penalty.
•
Expenses incurred by beneficiaries of such incentive schemes with events or
actions cancelled or postponed as a result of the Covid-19 outbreak, eligible for
reimbursement.
•
Negative impact of the Covid-19 outbreak causing failure to execute contractual
obligations under the Portugal 2020 incentive scheme, may be deemed as force
majeure.
Exceptional and temporary regime applicable to insurance agreements: aimed at
making the payment of insurance premiums more flexible. Under this regime, despite
the lack of payment of the premium or fraction thereof on the respective due date, the
compulsory insurance cover is maintained in its entirety for a limited period of time (60
days). In situations where there is a significant reduction or even elimination of the risk
covered as a direct or indirect result of the legal measures adopted in response to the
COVID-19 outbreak, policyholders may request that these circumstances be reflected in
the premium and the application of an exceptional regime of fractionated payment.
Exceptional and temporary regime for commercial practices with price reduction:
aimed at allowing commercial establishments, which were closed down or whose
activity was suspended as a result of the COVID-19 outbreak, to dispose of their
products and boost their economic activity. Under this regime, sales discount that take
place during the months of May and June 2020 are not subject to the maximum limit of
124 days per year.
“Programa ADAPTAR”: a safety incentive scheme for micro, small and medium-sized
enterprises aimed at reducing the increased costs with the rapid reestablishment of
operating conditions for this type of enterprises. Under this incentive scheme, the
Portuguese State bears part of the costs with the purchase of personal protective
equipment for workers and users, hygiene equipment, disinfection products and of
the costs of reorganising workplaces and changing the layout of establishments (for
microenterprises investing between EUR 500 and EUR 5,000, the Portuguese State
will bear 80% of the costs on a non-refundable basis; for small and medium-sized
enterprises investing between EUR 5,000 and EUR 40,000, the Portuguese State will
bear 50% of the costs on a non-refundable basis).
Export support measures: increase of credit insurance lines guaranteed (i) for the
metallurgical, metal-mechanical and mould sectors (increase from €100 million to €200
million); (ii) for work abroad and other supplies (from €100 million to €200 million; and
(iii) for short-term export credit insurance line (from € 250 million to € 300 million).
Moratorium on debts: moratorium on debts until 30 September 2020, which provides
for the prohibition of the revocation of contracted credit lines, the extension or
suspension of credits until the end of September this year.
For more information please see here.
Government measures in key jurisdictions
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