General national economic measures
* small business relief or other financial support
*income support for employees
* income support for freelance workers
*loan repayment holiday
*mortgage payment holiday
*employer social security payment holiday
* lower interest rates
* business rates payment holiday
-Serbia adopted fiscal measures worth RSD 384bn (€3,27bn), around 7% of its GDP.
-Serbian government provided minimum wage (250euros) per employee per month, for 3 months, for all SME employees and entrepreneurs, and payment of 50% of minimum wage for 3 months for employees in large private sector companies and for employees currently not working.
-One-off universal cash transfer of €100 to each citizen over 18 years old.
-Three-month deferment of labor taxes and social security contributions for all private companies, to be repaid in 24 installments starting from 2021.
-Deferment corporate income tax advance payment during the second quarter of 2020.
-3-month moratorium on enforcement and interests on tax debt under rescheduling agreements and 10 percentage points reduction of the interest rate on tax debt.
-A state guarantee scheme for bank loans to SMEs has been announced (RSD 240bn, around €2bn), as well new loans to SMEs from the Development Fund (RSD 24bn, around €200m).
-3-months moratorium on all repayments under bank loans and financial leasing agreements.
-Lower interest rate.
More information here.
-Under the second package, adopted in July 2020, the state covered 60 per cent of minimum wages for August and September, deferred payment of social security contributions and payroll tax for one month, and continued to subsidise large companies. The condition for companies to obtain state aid was not to lay off more than 10 per cent of the workforce three months after receiving the last payment. (source)
- As Serbia is involved in accession negotiations with the Union, the country can apply to EU funds open to accession countries like the EU Solidarity Fund (the fund was set up for natural disasters and now includes public health emergencies).
In addition, the EU has approved assistance for Serbia via its neighbourhood programmme (part of its Western Balkans Covid-19 package worth 410m euros). On top of funds for healthcare systems, the EU mobilised €78.4 million to support the social and economic recovery of Serbia. How the money is to be spent needs to be co-ordinated with the EU, international and national financial institutions “to support the real economy, including SMEs, and support liquidity, also of the banking sector.”
RUNDA (the independents music companies association for the region) asked to see part of these monies used to support music and other cultural sectors.
National measures specific to the music sector or to culture in general
No measures specific to the music sector and/or culture so far.
A public appeal (titled: "#saveculture") initiated by RUNDA was sent in the beginning of May to the Serbian government. Signed by 30 associations, festivals, record and other companies from the sector (clubs, media outlets, independent cinemas, theatres etc), it proposed measures for the sector, based on IMPALA's 10 steps plan, with the aim to push the Serbian government to create measures or programmes to facilitate the sector's economic recovery.
Measures taken by local collecting society organisations
Collecting societies will not charge small users (coffee shops, small shops) until end of the state of emergency.
Serbian OFPS launched a COVID-19 fund of 10m RSD (85.000 Euro), distributed to Serbian record labels and rightsholders to support their current work and encourage further growth and innovation. (source)
Other music funds available
StayCreative fund of 50.000 Euro – launched by Mascom EC and state51: https://cordmagazine.com/world-news/50000-eur-support-for-musicians/
Support from online services
No specific support for Serbia at the moment. For more 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
StayCreative, individual campaigns by artists/ companies
Business and other expected losses
UNESCO’s survey found that cultural and creative industries in Serbia have been severely impacted. Creative industry is relatively young, with 60% of surveyed enterprises active for 10 years or less. 87.6% of them have less than 10 employees, and 55% only have one employee (self-employed).
The largest number of respondents (49%) answered that their current resources can ensure normal functioning for less than one month, 35.8% for 3 months and only 1.9% of them remaining active indefinitely. 76.4% of enterprises stated they benefited from governmental measures, including tax and contribution exemptions, delay in payments of VAT and other taxes, and subventions for employees.
For more info:
RUNDA - Regionalna udruga nezavisnih diskografa - http://runda.online/contact/