27.6 C
Mykonos

web Radio

Weather

27.6 C
Mykonos
31.7 C
Athens

Reopen Business – Tax: Tax cuts for seasonal occupations!! Who benefits and how much!!

The "Co-Work" program, which includes tax cuts, is being implemented immediately, insurance regulations and a package of measures with an emphasis on seasonal businesses to save tourism professions……

Specifically, 5 are the new measures that reach their amount 3,5 billion. euros and are included in the "Co-Work" program for businesses and employees affected by the pandemic.

The package includes details:

Lightening businesses and freelancers

The easing is done by reducing or even zeroing the advance income tax for individuals and legal entities.. The advance tax will be zero this year for companies whose turnover in the first half of the year 2020 it was at least 35% smaller than that of its first half 2019. The same will apply to the air and shipping industry but also to seasonal companies that record 50% of their turnover in the 3rd quarter of the year. For all other businesses the tax advance is reduced by 30% until 70%, based on the shrinking turnover of the first half of the year 2019. Freelancers who are not subject to VAT will also pay half the advance.

For example:

Tourist company did it 2018 and 2019 height gains 100.000 euro. Last year he paid income tax 29.000 euro and other 29.000 tax advance. This year (tax declaration 2020) will pay 29.000 euro income tax. But because he has predetermined others 29.000 and the advance tax for this year is zero, the tax to be paid this year is zero. In case of reduction of the advance tax on 50% the company will pay 14.500 euros instead 29.000 which he paid last year.

Issuance of the 3rd cycle of Returned Advance in August, taking into account the decline in business turnover in June and July. This cycle will also include sole proprietorships without employees and without cash registers., which belong to in the tourism industry.

Second "facelift" in "Co-Work"

It extends over time 1 August - 15 October the current one subsidy 60% of employer contributions for the part of the salary that is lost due to reduced working hours.

Today, partial relief from employer contributions only applies to the period 15 June - 31 July.

In case of reduction of working time against 50%, the employer covers it 100% labor contributions and the 70% of employers.

For example:

With a nominal gross full-time gross salary of € 1,000 and 50% reduction of hours, the employee's insurance premium is set at € 153.3. The state subsidy is set at € 72.99 and the employer's premium at € 170.31 (against € 243.3 without the subsidy). In total, the employer pays contributions of € 323.61, while it would pay € 396.6 without the subsidy.

Subsidy 100% of employer contributions for seasonal businesses

Employers of seasonal companies will be charged for the quarter July-September only with the amount of the gross salary of the employee, as they are completely free of it 100% of employer contributions.

The new measure results in an overall reduction in the employer's wage and non-wage burden. 19,5% per employee. The measure is horizontal and applies to businesses subject to VAT, which in its 3rd quarter 2019 (July-September) they took over 50% of their annual turnover.

The same applies to operations in the air and shipping sectors.

For example:

With a gross salary of € 1,000, the labor insurance premium is set at € 153.3 and the employer's at € 243.3.. For the quarter July-September the employer pays € 1,000 and not € 1,243 per month. The relief is € 243.3, namely 19,5%.

The subsidy 100% of employer contributions will also apply to employees of seasonal companies included in the "Co-operation", at the amount of their initial nominal salary.

Therefore, two employee speeds are formed:

-Seasonal employees will be subsidized 100% of all employer contributions and 60% of losing their salary.
-Employees of 12-month operations will be subsidized 60% of employer contributions for non-working time and 60% of losing their salary.

Extension of suspension of the contract of employees in tourism

It is being extended for another two months, that is, for August and September, the possibility of suspending their contract employees in companies in the tourism industry and in particular in:

  • hotels,
  • tourist offices,
  • retail trade of tourist items,
  • shops and businesses of all kinds operating within hotel units,
  • airline operations and
  • companies in the shipping industry.

Recall that the measure of suspension remained active from 1from August to 30 September only for seasonal hotels and tourist buses, while tourism businesses, including 12-month hotels, could be used until the end of July.

With the new regulation the possibility of suspension, leading to special purpose compensation up to 534 per month, extends to August and September.

Source:Sunday Nation

Follow Us

Scan to Order

System of contactless orders with QR Code. No catalogs, multilingual and direct product information!

Trending Now

Our Kalo Month!!! … He's already August!!!

to travel in a new tale, for that end will have the most beautiful and

Tourism and Healthcare: No more free tourist visits to the Health Centers – They will pay 20 euro

Until today, visitors especially to the tourist areas that by the thousands arrived in Greece in the summer and needed health services, did not pay any amount ........ End...

Premium

Mykonos – Chrisochoïdis: Everything will be done,what is needed is to keep the island in health safety conditions

Επίσκεψη του Υπουργού Προστασίας του Πολίτη Μιχάλη Χρυσοχοΐδη στη Μύκονο Ο Υπουργός Προστασίας του Πολίτη, Michalis Chrysochoidis, visited Mykonos, on the occasion of its formation ...

Stelios Bringos: The Region contributes the most to the promotion and promotion of Mykonos as the safest destination

Τοποθέτηση Στέλιου Μπρίγγου στη συνάντηση φορέων της Μυκόνου με τον υπουργό Προστασίας του Πολίτη Μιχάλη Χρυσοχοΐδη Στην σημερινή σύσκεψη με τον Υπουργό Προστασίας του Πολίτη...

Stories for You

Coronavirus & Education: “Green light” by the Commission for live broadcasting of lessons in schools!!

The Greek law on the transmission of courses is in accordance with the principles of personal data protection, Recognized by the European Commission ......... After the huge reactions of parties and ...

Reopening Cruise: The estimate that the start of cruises in Greece will take place after 20/8, expressed G.. Plakiotakis

Greece, based on European protocols, issued its own National Directives. so Greece is ready to receive Cruise Ships. In fact today ...

More from Mykonos Ticker

Mykonos Monastery: Schedule of Holy Prayers of the 15th of August 2020 in I.M.. Panagias Tourlianis

"At a resort, seeks salvation ' Communicated to wishful Mykonos and spend their holidays in our island, that from Sunday 02 August to Thursday 13 August ...

Our Kalo Month!!! … He's already August!!!

to travel in a new tale, for that end will have the most beautiful and

Coronavirus measures -Χαρδαλιάς: Masks in all enclosed spaces - Limit 100 people at weddings and baptisms

Masks were announced everywhere by Nikos Hardalias, ban on festivals until the end of August, until 100 people at ceremonies and clubs are forbidden to have standing customers .......... THE...
error: Content is protected !!