The European Commission announced on Monday that it had approved a Polish support program for companies affected by the coronavirus epidemic worth approximately PLN 1.2 billion. The scheme was approved under the Temporary State Aid Framework. Public support is to be in the form of tax deferrals and tax-related liquidity measures (interest deferral, tax breakdown in installments).
It will be available to companies from all sectors (except the financial sector) that experienced a 25 percent drop in turnover during the crisis.
"The aim of the program is to meet the liquidity needs of enterprises and to help them stay in business during and after the outbreak. Approximately 300,000 enterprises are expected to benefit from the measure," the European Commission said in a press release.
The Commission concluded that the scheme complies with the conditions set in the Temporary Framework. The aid will be granted before 30 June 2021 and the end date of the deferral will be no later than 31 December 2022.
The EC noted that the measure is necessary, appropriate, and proportionate to remedy the serious disturbances in the Polish economy.