General national economic measures

 

*small business relief or other financial support 

*income support for employees 

*tax returns and or VAT returns suspended/delayed 

*interest free crisis loans 

*company tax relief   

More information:  

- At the end of March, economic measure were announced. Bulgaria’s financial aid package involves 4.5 billion levs (around 2,299 billion euro) to shore up the economy, with a focus on healthcare, foreign affairs, and the Bulgarian national bank. 

-Coverage of 60% of the wages of employees of most affected businesses (suffering revenue losses greater than 20% compared to March 2019) who would have been otherwise laid off. 

 

-The EU approved a Bulgarian BGN 500 million (approx. €255 million) public guarantee scheme to support small and medium-sized enterprises (SMEs) affected by the crisis. Coverage of each loan is maximum 80%. 

-As regards tax, deadlines for corporate taxes were extended from March 31 to June 30. Personal income tax returns filed by traders and sole proprietorships got an extension from April 30 to June 30. Individuals were eligible for a 5% deduction if they filed and paid their taxes by May 31. 

-Two hundred million levs (102 million euros) overall were spent on interest-free loans. People who were on unpaid leave received 1,500 levs (767 euros). Medical workers, police officers and transport workers were compensated for their extra work. 

More information here and here.  

 

National measures specific to the music sector or to culture in general

 

Artists with a maximum 1,000 BGN monthly income (around 511€) in 2019 will get three months minimum wage financial support.

 

Measures taken by local collecting society organisations

 

Authors’ society MUSICAUTOR called on Bulgarian media to play more national music on radio stations.  

PROFON, the company for collective management of related rights in music paid 70% of the annual remuneration of performers and producers in advance from April. 

UNDP assisted with a total of about BGN 3.5 million, of which nearly BGN 1 million were directed to Bulgarian producers and contractors. 

More info: https://www.prophon.org/news/profon-shte-podpomogne-izpalniteli-i-produtsenti-s-avansovi-vaznagrajdeniya

Other music fund available

 

None so far.

 

Support from online services

No specific support for Bulgaria so far. For other initiatives by online services, click here.

 

Support from national radio and other media

 

None so far.

 

Social media and other campaigns to promote music during the crisis

 

None so far.

 

Local programmes supported by EU funds covering music

 

None so far.

Business and other expected losses

 

Still under evaluation.

IMPALA represents independent music companies and national associations in Europe. Our main site is www.impalamusic.org where you can find out more about what IMPALA does. 

Address: 70 Coudenberg - 1000 Bruxelles

Tel: +32 2 503 31 38

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