News Local Special subsidies for self-employed with slashed earnings from coronavirus

Special subsidies for self-employed with slashed earnings from coronavirus

Seven categories of self-employed persons whose jobs have been affected by the coronavirus pandemic will now be able to apply for a special subsidy.

They can’t be employers and must be on the Social Insurance register, according to an announcement on Monday by the Ministry of Labour.

All professions that fall under the scheme are:

» Photographers

» Rental car owners

» Aides and tour guides for tourists and visitors (i.e. to archaeological sites, museums, galleries, etc)

» Taxi Drivers

» Tour bus drivers

» Street food vendors

» Other Street vendors – besides food (Lottery street vendors not included)

Anyone falling under this category will be able to receive the special subsidy if they have had or are anticipating a reduction of their turnover beyond 40% since the breakout of the pandemic, compared to the corresponding period of the previous year.

And if the reduction of their turnover is due solely to the state of their business due to the Covid-19 pandemic.

In case they were not self-employed during the previous year, then the comparison will be made with a period preceding the period in question.

The above scheme may not include self-employed persons aged 65 and above for certain categories who do not receive a statutory pension and are not required to pay any contributions under the island’s Social Insurance Legislation.

This special weekly subsidy will be equal to 60% of the amount of the weekly amount of insurable earnings based on which the beneficiary was obliged to pay contributions for to the Social Insurance Fund for the fourth quarter of 2019.

Finally, the subsidy may not be less than €300 or more than €900 if it covers a period of four weeks.

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