Compensation: Up to NIS 400,000 or 50 percent of fixed expenses • Eligible: Business owners with annual turnover of NIS 18,000 to NIS 20 million

The possibility of applying for the Business Aid Grant for participation in fixed expenses was opened. The grant applications can now be submitted on the Tax Authority website, which is designed to help with the fixed expenses. 

Ministry of Health instructions to prevent the spread of the Corona virus in Israel // Courtesy of the Ministry of Health

This is the third stage of payment of business aid grants due to the economic downturn. As part of this, business owners can apply for a grant of small and medium-sized businesses with a turnover exceeding NIS 18,000 and up to NIS 20 million a year, damaged during the Corona period. This is with the exception of self-employed persons with turnover of up to NIS 300,000 per year who already receive the grant in another framework, as a supplement to the second phase. 

The grant ceiling is up to NIS 400,000. The purpose of the grant is to provide these businesses with functional continuity, and is provided for fixed expenses that the business is forced to pay in March and April where it has operated partially or not at all.

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This is the government's decision on April 24. The option is given to businesses and nonprofits that have fallen by at least 25% in their turnover in March and April, compared to the same period in 2019. 

In order to meet eligibility conditions and calculate the grant, businesses must submit all periodic VAT reports required to calculate the grant. Businesses that started operating after March 2019 will have their business cycle calculated from the month following its opening.

The application can be submitted by a representative or representative on his behalf, and if the application is submitted in accordance with the instructions, the processing time will not exceed one week. If the claim is filed in a timely manner but requires clarification or completion thereof, the dealers will receive a down payment of 20% of the amount of the grant required, but not more than NIS 80,000, until the application is completed. Upon completion of the treatment, the balance of the grant will be paid into the bank account indicated on the form, after deducting the down payment paid. Dealers will be notified of any action taken during the request process by text message and e-mail. The deadline for applications is August 10, 2020.