Corona-crisis | Corona newsletter no. 7/2020: The second support package of €13 billion: what is changing?

Topicality | 27 May 2020

Corona newsletter no. 7/2020

The second support package of €13 billion: what is changing?

The first support package, presented in mid-March, comes to an end on 31 May. On Wednesday, 20 May a second support package for entrepreneurs was announced. This largely extends the measures for a further three months (from June to August). What changes will the new package introduce? There will now be more compensation available for fixed costs, the redundancy penalty under the Temporary Emergency Bridging Fund for Employment (NOW scheme) will be removed and seasonal businesses will be offered a helping hand. In addition, a partner test will be introduced under the Temporary Bridging Scheme for Independent Entrepreneurs (Tozo).

Please note:

We are keen to ensure we provide up-to-date information. As we are writing, however, the government is constantly announcing new additions or improvements to (new) schemes. The overview in this Coronavirus Newsletter is based on the information available as at 8 p.m. on Wednesday, 20 May.

1. Reimbursement of Fixed Costs for SMEs: more compensation for fixed costs in the event of a 30% drop in turnover
2. NOW scheme 2.0: redundancy penalty withdrawn
3. Tozo scheme 2.0: partner test now introduced
4. Deferment of tax payments: extended until 1 September
5. Coronavirus loans and guarantees for entrepreneurs (BMKB, GO, KKC, COL)

View our newsletter here

Do you have any questions?

Please contact your regular contact person within Horlings. You can also contact the Horlings corona helpdesk:

Anne-Marie Dijkhorst (for employment law matters)
adijkhorst@horlings.nl

Joshua Jung (for tax matters)
jjung@horlings.nl

Author

Anne-Marie Dijkhorst