30 October 2020

Financial Shield for industries – new means of support

The government has just announced a Financial Shield for industries: a new program of support for companies particularly threatened by stagnation and loss of financial liquidity in times of the pandemic.

The industries included in the support program are as follows:

  • gastronomy,
  • fitness industry (gyms, recreation),
  • retail industry,
  • film and photography,
  • entertainment (stage, fairs).

Let us remind you that by the governmental decision of October 23rd, 2020, restaurants throughout Poland were forced to close for a period of 2 weeks. The restriction covered not only gastronomy but also education (distance learning in grades 4-8) and all industries involving the organization of events, meetings, and gatherings in public space for more than five people.

The financial shield for industries is designed as a form of compensation for the losses incurred during this period.

What support can entrepreneurs expect?

The basic principle of qualification is the reduction of revenue by at least 40% compared to the same month (October or November) of the previous year. Entrepreneurs may apply for the means of support indicated in the announcement, including:

  1. Exemption from social security contributions (ZUS) for November (with a decrease in turnover by 40% compared to November 2019)
  2. Demurrage (surcharges to maintain employment, for November)
  3. Non-returnable subsidies in the amount of 5,000 PLN for micro-entrepreneurs and small businesses
  4. Exemption from fair fees for the entire year 2021 (for companies from the entertainment industry)

Shield for industries – deadline for submissions

Under the law project, applications for support should be submitted within specific deadlines, and these dates vary depending on the selected form.

  • Exemption from ZUS contributions – application with statements to ZUS no later than January 31st, 2021.
  • Demurrage – it is possible to submit applications within three months from the month in which the epidemic state will be canceled.

The deadline for subsidies in the amount of 5,000 PLN has not yet been revealed, but it should match the general deadline for applying for forms of support set by the Ministry, June 31st, 2021.

More information in the press release of the Ministry of Finance (Polish only).

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ARPI Accounting is a part of ARPI Group, a Norwegian holding which started to operate in Poland in 2001.