Poland exempts crisis-hit micro-firms from social security payments

Interview

Photo by Isaaack/Shutterstock.com

Poland will exempt self-employed people and micro-companies from social security payments for three months if their revenues drop by more than 50% compared to February, President Andrzej Duda has announced, according to website Poland In. 

Polish President Andrzej Duda. Photo by Isaaack/Shutterstock.com

The president said he had held a meeting with the prime minister and the development minister as well as heads of the state social security institution ZUS and state development bank BGK to discuss ways of making life easier for Polish businesses that have been impacted by the spreading coronavirus epidemic.

Last week, the government announced that entrepreneurs will have their social security premiums suspended for the period of the crisis. However, the president said on March 21 that businesspeople were still worried that after the crisis period it would be next to impossible to get back to normal.

Companies that decide to maintain jobs will be subsidized with 40% of the average wage for each employee by the government, Duda added.

Poland, the largest eastern economy of the European Union, has reported 692 coronavirus cases, including eight deaths, Poland In adds.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.