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Home NEWS agevolazioni per imprenditori previste nel pacchetto finanziario

Support instruments for entrepreneurs included in the Financial Package

As part of the Anti-crisis Packages created by the Polish government, the Polish Development Fund (PFR) has introduced a new support program called the PFR Financial Package for Companies and Employees. The main goal of this program is to protect the market and support the liquidity of companies that have been affected by the coronavirus pandemic.

The program includes 3 components for a total value of PLN 100 billion, of which PLN 25 billion is for micro-enterprises, PLN 50 billion for small and medium enterprises and PLN 25 billion for large enterprises, including non-refundable funds. In order to benefit from the program’s instruments, all entrepreneurs must meet the following conditions:

  • the bankruptcy, liquidation or restructuring procedure has not been initiated;
  • company operating on 31 December 2019;
  • no arrears with regard to the payment of taxes and social contributions as of 31 December 2019 or on the day of granting the subsidy;
  • a reduction in revenues of at least 25% after February 1, 2020.

In order to apply for the subsidy, actual beneficiaries need to certify that they have a tax residence in Poland, and a waiver from this rule is possible when the beneficiary declares to transfer the tax residence to Poland within 9 months. The subsidy can only be used to cover current management costs, in particular employee salaries.

The maximum amount of the financial support depends on the size of the reduction in revenues and the number of employees and can amount to up to 12 thousand / 24 thousand / 36 thousand PLN per employee (up to a total of 324 thousand PLN per microenterprise, on average 70-90 thousand PLN).

Small and medium enterprises employing 10 to 249 employees and whose annual turnover does not exceed EUR 50 million or the balance sheet total does not exceed EUR 43 million, are eligible for the subsidy with a maximum amount of 4%, 6% or 8% of annual sales depending on the reduction in sales.

The reimbursement rules provide for the possibility of non-repayable support, provided that the company operates for 12 months from the date of granting the subsidy and maintains an average level of employment.

Companies employing at least 250 employees and whose annual turnover exceeds EUR 50 million or the balance sheet total exceeds EUR 43 million may apply for a subsidy, when, among others, they observe a reduction in revenues of at least 25%, they have lost production capacity and do not receive sales payments on the account of COVID-19.

Large companies can benefit from 3 forms of financing

  • liquidity financing that can be used to settle current payments, including salaries;
  • preferential financing to finance operating and restructuring activities;
  • investment financing in the form of equity instruments, for example shares.

On Monday, April 27, the PFR Financial Package program was approved by the European Commission. The application process for micro-enterprises and small and medium enterprises via electronic banking systems started on April 29. The launch of the program for Large Enterprises is waiting for a further approval. Updates on the program and other necessary information can be found at: https://pfr.pl/

The detailed conditions for receiving subsidies for each type of business and the rules for reimbursement are presented in the following summary.

Anti-crisis packageDOWNLOAD

Legal, fiscal and organizational assistance

For any difficulty related to the crisis situation, Core is available to provide legal, tax and organizational assistance in order to support the management of companies in Poland. Find out what we can do for your company:  link.

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