New extraordinary aid to support business solvency

New publication opening the pre-registration procedure for extraordinary direct aid to support business solvency in response to the COVID-19 pandemic, dated 9th of November. These new extraordinary aids to support business solvency are aimed at self-employed workers and non-financial companies.

Conten Table

new aid business solvency

New publication opening the pre-registration procedure for the new extraordinary direct aid to support business solvency in response to the COVID-19 pandemic, dated 9th of November. These are aimed at self-employed workers and non-financial companies.

Compulsory prior registration

Prior registration is required in accordance with the terms and conditions set out in Order ECO 209/2021, and the applicant may make payment of the debts declared from the time of submission of the application for prior registration and at the latest within the period established in the call for applications or in the resolution granting the aid.

The purpose of the aid is to support the solvency and debt reduction of the private sector of self-employed workers (entrepreneurs and professionals) and non-financial companies most affected by the COVID-19 pandemic.

The aid will be used to service debt and make payments to suppliers and other creditors, both financial and non-financial. It will also be used to compensate for fixed costs incurred, including accounting losses, provided that these were incurred between the 1st of March 2020 and the 30th of September 2021 and stem from contracts prior to the 13th of March 2021.

The following groups can apply for registration:

  • Entrepreneurs or professionals and companies that are attached to the sectors of activity provided for in the National Classification of economic activities provided for in Royal Decree 475/2007, of 13th of April, during 2019 and 2020, who continue to carry out the activity and whose annual volume of operations, declared or verified by the Administration, in the value added tax or other equivalent indirect tax in 2020, has experienced a decrease of more than 30% with respect to 2019.
  • The same entrepreneurs belonging to the aforementioned sector of activity who apply the objective assessment system for personal income tax who have carried out and declared or verified by the Administration any of these activities during 2019 and 2020 and who continue to carry them out.
  • Consolidated groups that pay corporate income tax under the consolidated taxation system.

All of them must meet the requirements set out in the regulation and must have a tax domicile in a municipality in Catalonia or a permanent establishment in the case of non-resident non-financial institutions operating in Spain.

Beneficiaries of grants published in June and July may also apply for new grants in this call for applications.

As commitments, the applicant must maintain the activity until the 30th of June 2022; not distribute dividends during 2021 and 2022; not approve increases in the remuneration of senior management for two years; keep the documentation proving the requirements; comply with the principle of transparency and other obligations under the rules of subsidies.

Start of registration for the new extraordinary aid to support business solvency

The pre-registration form can be submitted from 9.00 a.m. on the 12th of November 2021 until 14.00 on the 19th of November 2021.

The procedure for submitting the registration and supporting documentation is set out in the same regulation and must be submitted via the electronic office.

If you think you may be in any of the situations that qualify you to apply for the aid, do not hesitate to contact us and we will verify your compliance with the requirements.

 

Photo by Old Money on Unsplash

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