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The business was hit by the fifth wave of the Corona? That way (not) you will receive compensation - Walla! Of money

2022-01-20T07:55:57.254Z

We approached the Ministries of Finance, Economy and Tax Authority and examined what we need to do to get a survival grant. Bottom line: The state has abandoned business owners



The business was hit by the fifth wave of the Corona?

That way (no) you will receive compensation

Following the Finance Minister's statement that only those who are really injured and entitled to assistance will also receive it, we turned to the Ministries of Finance, Economy and the Tax Authority and examined what we need to do to receive a survival grant.

There are loans, there are insignificant reliefs, but the bottom line: the state has abandoned business

Between Ashkenazi

20/01/2022

Thursday, 20 January 2022, 09:13 Updated: 09:48

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Last weekend, Finance Minister Avigdor Lieberman published a post in which he reiterated his message regarding business assistance during the Omkiron crisis: "I want to be clear and unequivocal. NIS 750 to his bank account, simply because we really see you "- said the Minister of Finance.



Following this, Walla went out to check which businesses the State of Israel "really sees" and they can receive assistance now, and most importantly - what conditions must be met in order to receive compensation for the decrease in revenues. We turned to the Ministry of Finance, the Ministry of Economy, and the Tax Authority, these are the answers we received. The



Tax Authority stated:

"Currently, the Tax Authority does not have open grants to submit. Regarding future plans, please contact the Ministry of Finance

. "



The Ministry of Finance responded to our request as follows: "In order to help businesses overcome the Omicron wave, an assistance package was provided to businesses that includes payment for isolation days along with shortening, free distribution of tests, and increasing liquidity for businesses by deferring VAT payments. The country. The Ministry of Finance will continue to monitor the data and formulate a targeted response and assistance to businesses accordingly. "



In other words: no compensation, no assistance - except for industries such as aviation and culture, which managed to stir up some turmoil. Measures), some refer mainly to the previous crisis, such as the tax relief mediated by the Ministry of Economy - and the most significant part, all empty talk content with words like "examine, crystallize and weigh", with the feeling that the state is playing on time and hopes the wave passes before substantial compensation is required.



We received more details from the Minister of Finance, who explained about the measures that the Minister of Finance plans to assist businesses, including: financing isolation days for employees (subject to legislative amendment - in this context it should be noted that the bill passed first reading in the Knesset this week).



In addition, there is a state-guaranteed Business-Loan Fund, a solution designed to help those who have run into cash flow difficulties due to declining turnover.

The fund will continue to breastfeed loans until the end of February.



Moreover, the Minister of Finance announced that the refund of grants given to businesses and their return reached the doorstep of the Supreme Court, will be postponed until 2023 (how should everyone who rushed to act now and return the grants to the tax authority feel?) And that VAT payments to self-employed will be delayed by ten days .

More on Walla!

A whole meal in one pot: Chili con carne stew on a campfire in the field

Walla!

Vehicle with Dacia

A store in Tel Aviv during the second closure.

Business owners affected by the fifth wave can only dream of a similar compensation outline (Photo: Reuven Castro)

Discount on property taxes and participation in rent for 2020 ...

The Ministry of Economy responded that the ministry operates "targeted assistance tools during the Corona period". For example, within the Small and Medium Business Agency in the Ministry of Economy, business owners can apply for a tax deduction for the period between June 2020 and June 2021. In other words - there is no connection to the micron de facto closure that currently exists for a large part of business owners.



According to the Ministry of Economy, the application can be submitted on the Small and Medium Business Agency website until 31.12.2022 and the person who can submit it is a business owner who meets the following two conditions: The property must be registered in the business name and classified as "non-residential". Entitled to a grant for participation in fixed expenses of the Tax Authority for the two months preceding the two months for which the discount is requested.



The ministry noted that for a tax deduction for the periods June-August 2020 and September-October 2020 a 60% -80% reduction in turnover is also required, depending on the size of the business.



Another assistance provided by the Small and Medium Business Agency is a participation grant grant.

Applications for the grant can be submitted on the website of the Small and Medium Business Agency until 15.3.2022, with the possibility of extension for 60 days.



To receive the grant, the business owners must meet the following conditions: The volume of rental expenses paid by the business for 2019 must be higher than 17% of its turnover in 2019. In addition, the volume of rental expenses paid by the actual business for 2020 must be higher than 90% The rental expenses he paid for 2019. And there are other conditions pertaining to the scope of the business turnover of the transactions.



In addition to all these, the Ministry of Economy noted that within the framework of the Investment and Development Authority in the first and second wave, the Authority operated a retention track designed to incentivize those who retained their employees despite declining revenues, with a 50% grant in investments in marketing and equipment.

For the year 2022, as necessary, new designated routes will be examined and the expansion of the facilities will be examined.



Another interesting thing we mentioned in the Ministry of Economy is thinking these days about a "remote work procedure" - which will allow companies to receive grants for employing workers from their homes, which was not approved before the crisis - but even here it seems that by the time it is examined and approved,

  • Of money

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Tags

  • Avigdor Lieberman

  • Ministry of Finance

  • Ministry of Economy

  • Internal Revenue Service

  • Compensation

  • Corona

Source: walla

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