General national economic measures

 

*small business relief or other financial support

*company tax relief

*VAT relief

*income support for employees

*income support for freelance workers

*lower interest rates (general)

*employer social security payment holiday

*loan repayment holiday

*tax returns and or VAT returns suspended/delayed

 

More information:

 

-A headline package of measures totaling €15bn, representing 8.9% of GDP, was adopted by the Greek government.

 

Among other measures :

 

-€1.4 billion in extraordinary financial support to employees and self-employed, via one-off payments of €800 to up to 1.7 million people (representing 81% of all private sector jobs).

-€2.1 billion in suspension of tax liabilities, including deferred tax expenditure for affected businesses, self-employed and employees and 25% tax discounts for those who choose not to defer payment.

- VAT payments are suspended for four months, with some VAT payments postponed to August 31; Greece will allow VAT payers to withhold 25 percent of their VAT due in April if they pay on time and do not lay off employees.

-€1.6 billion in suspension of social security contributions and subsidies of the contributions of the self-employed, small business owners and employees.

-€1 billion financing scheme to provide wholly or partially repayable direct financial support to active SMEs affected by the health crisis.

-Liquidity support is also provided through loan guarantee schemes and interest payment subsidies.

 

-Banks will allow deferral of principal payments on existing loans for hard-hit individuals and firms through end-September.

 

-« Easter bonus » to be paid by all companies to all employees. In the case where a contract between an employee and an employer is temporarily suspended, the amount of the Easter bonus corresponding to the period of suspension of the employment relationship is paid from the state budget.

 

More information here, here and here.

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

The music sector can benefit from the above-mentioned general measures.

 

The government has also introduced a €15m package of measures for the cultural sector which unfortunately doesn’t seem to cover music.

 

More information here.

 

De-confinement process

Greece started its lockdown exit strategy on May 4 and gradually lifted lockdown measures.

 

The country fully reopened its borders on July 1.

Measures taken by local collecting society organisations

 

No information.

 

Other music funds available

No information.

 

Support from online services

 

No information.

 

Support from national radio and other media

 

No information.

 

Social media and other campaigns to promote music during the crisis

No information.

Local programmes supported by EU funds covering music

 

No information.

 

Business and other expected losses

 

No information.

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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