Government measures in key jurisdictions 3rd edition final - Flipbook - Page 97
Portugal
•
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.
: 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.
: 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.
“
”: 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).
: 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 until 31 March 2021, 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.
Government measures in key jurisdictions
97