2020.05.12 11:30

Lithuanian government to offer one-off subsidies to small firms

BNS 2020.05.12 11:30

The Lithuanian government has allocated up to 100 million euros in support for coronavirus-affected small firms with up to nine employees, according to Prime Minister Saulius Skvernelis.

The scheme, to be launched on Tuesday, allows businesses to apply for one-off subsidies from the State Tax Inspectorate and get the money within three days, he said.

The exact sum of the subsidy will depend on how much the firm paid in personal income tax over last year: 500 euros for those that paid up to 1,000 in the tax, 1,000 for those that paid 1,000–2,000. Businesses that paid more will get half the amount of their personal income tax.

Companies with up to nine employees make up one-third of all businesses operating in Lithuania and employ about one-tenth of all private sector workers, according to the president's office.