General national economic measures
*small business relief or other financial support
*unemployment relief
*unemployment relief for freelance workers
*loan repayment holiday
*tax returns and or VAT returns suspended/delayed
More information:
-Un 2020, a package of fiscal measures of ISK 230 billion krona (around €1,6bn), representing 7.8 percent of GDP, was adopted.
- Key measures to support households and firms including tax cuts, tax deferrals, increased unemployment benefits, one-off child allowances, support to companies whose employees have been quarantined, and state-guaranteed bridge loans to companies.
-Government committed to allowing part-time workers to claim up to 75% of unemployment benefits, to avoid job losses. The benefit package allowed those who cut back to as low as 25% of their previous employment hours or salary to boost the earnings they received from their employer with Government support up to a combined level of ISK 700,000 per month (around €4,489). The self- employed and freelancers were also eligible for this benefit.
-Businesses were allowed to apply to postpone VAT payments until 2021.
-A special investment initiative was to be announced at a later date, it was not yet clear if culture would be included.
-Interest rates were cut. (see here)
More information here.
National measures specific to the music sector or to culture in general
The music sector can benefit from the above-mentioned general measures.
Measures taken by local collecting society organisations
Authors society STEF made more regular payments (more here).
Other music fund available
None so far.
Support from online services
None so far. For more initiatives by online services, click here.
Support from national radio and other media
None so far.
Social media campaign 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.