Government measures in key jurisdictions 4th edition - Flipbook - Page 100
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.
“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 €500 and €5,000, the Portuguese State will
bear 80% of the costs on a non-refundable basis; for small and medium-sized enterprises investing
between €5,000 and €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 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.
Employment
•
What
financial support is
the government
providing to
businesses and to
individuals on
employment
issues?
Simplified lay-off: lay-offs, which comprise the temporary suspension of employment contracts or
reduction of the working time, have been given more flexibility and the procedure has eased significantly
(“simplified lay-off”). Only available to companies that are still covered by the closure obligation imposed
by the Portuguese Government.
•
Stabilization complement to employees who were covered by lay-off measures: The stabilization
complement is granted to employees who had a reduction in salary as a result of being covered by the
simplified lay-off regime or the lay-off regime provided for in the Portuguese Labor Code for at least one
full calendar month between April and June 2020, and whose basic wage, in February 2020, was equal to
or less than twice the Minimum Monthly Guaranteed Remuneration (Remuneração Mínima Mensal
Garantida). The stabilization complement is granted and paid by the Portuguese Social Security, of its own
motion, without the employee having to submit any application. This complement was paid in one lump
sum in July 2020.
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