President of Ukraine

President presented a number of measures to support business during quarantine

24 November 2020 - 14:29

Bills on measures for economic support to citizens and businesses due to quarantine restrictions will be submitted to the Verkhovna Rada in the near future. President of Ukraine Volodymyr Zelenskyy announced this in his vlog.

According to the Head of State, the developed legislative initiatives, in particular, will provide for the following. Individual entrepreneurs and employees whose sphere of activity falls under the quarantine will receive financial assistance in the amount of UAH 8 thousand.

According to estimates, more than a million citizens of Ukraine will be able to receive assistance under this program, and its total amount will be almost UAH 10 billion.

In addition, businesses will receive one-time financial assistance to save jobs.

"This will be an amount proportional to the so-called downtime, up to 8,000 hryvnias per employee," the President said.

Enterprises whose work is terminated due to quarantine restrictions will be reimbursed for the cost of paying a unified social tax for employees. According to the Head of State, this is almost UAH 1.5 billion for about 120,000 legal entities.

"If your activities are banned due to increased quarantine, you will receive compensation for the payment of UST for your employees," the President said.

In addition, tax holidays are envisaged. If the restrictive measures are tightened, 200,000 individual entrepreneurs of the 1st group will be exempt from paying all taxes and fees, including UST.

The Head of State also noted that business support programs, which successfully worked during the quarantine in the spring, are being restored.

"This is financial assistance to individual entrepreneurs who have children under 10 years old. This is compensation for partial unemployment," Volodymyr Zelenskyy said.

The President noted that SMEs have already received more than UAH 13 billion under the "Affordable Loans 5-7-9%" program.

"It is important that the "5-7-9" program will be continued and expand its capabilities this year and in 2021," the President added.

"We are hopeful the Verkhovna Rada will support all the above mentioned important steps," the President stressed.

Volodymyr Zelenskyy also called on citizens to support their favorite cafes and restaurants by ordering food delivery from them.

“Tell on social media about places where the food always tastes good and where you can order delivery, supporting them in this way. Both today and at the weekend," he said.