Following the measures announced earlier this week, the Prime Minister, the Minister for Finance and Financial Services and the Minister for the Economy, Investment and Small Businesses announced the following additional measures to assist businesses and employees in the current situation brought about by the impact of COVID-19.
With regard to all of these measures, kindly keep in mind that further information still needs to be announced by the authorities on how these will be implemented and processed. Therefore as this information will be announced, we will update you accordingly.
1) Moratorium period for Personal and Business Loans
A moratorium period may be requested of up to three months in relation to both personal and business loans.
2) Employees whose full-time employment has been terminated
Employees with disabilities who are not able to telework, and who had to stop working in view of their vulnerability to COVID-19, will receive a temporary benefit of Eur 800 per month.
Persons whose employment has been terminated as of the 9th March 2020, will receive a temporary benefit of Eur 800 per month.
3) Employees requiring leave to care for their children
Families were one of the parents has to stay at home in order to take care of the children, will receive a benefit of Eur 800 per month for a term of two months. This benefit will be received by one full time employed parent per family who cannot telework from home.
4) Entities Registering a Reduction of 25% or more in their Business Activity
Every entity which is registering a reduction in sales of 25% or more in one month, will benefit from subsistence from the Government equivalent to Eur 160 per employee per month. This benefit will be received by the employer. The basis of this is a reimbursement of one day’s salary per week, per employee employed with the entity, calculated at a rate of Eur 40 per day per full-time employee. The calculation is based on a 4 week month.
5) Self-Employed persons instructed to suspend their operations by the Health Authorities
Self-Employed persons who were instructed by the Health Authorities to suspend their operations, will received a benefit of Eur 480 for themselves, together with an additional benefit of Eur 320 per employee per month.
These benefits are being calculated at the rate of Eur 40 per day for 3 days per week per self-employed person and Eur 40 per day for 2 days per week per full-time employee. The calculations are based on a 4 week month. This benefit applies for those businesses in the accommodation, food & beverages, language schools and entertainment industries, amongst others.
6) Entities which voluntary suspended their operations, including Self-Employed persons
These entities, even if they were not forced to close down by the Health Authorities, will be eligible for Government assistance. This assistance will be similar to that described in point 3 above.
7) Benefits for Employers sustaining quarantine leave
This benefit will be equivalent to Eur 350 per employee on the mandatory 14-day quarantine leave.
8) Third-countries nationals:
i. Entities terminating employee contracts will not be allowed to recruit third-country nationals.
ii. Furthermore, no new applications for work permits will be considered from third-country nationals, save for applications from highly-skilled workers.
iii. Any third-country nationals being terminated from employment shall be assisted by Jobsplus in finding an alternative employment.
Jobsplus will also provide assistance to those individuals who are resident in Malta and who have been terminated from their employment.
9) Government Subsidies on Rent
Present subsidies granted by the Government to families residing in subsidized accommodation, will be increased. Other new subsidies will be granted by the Government for persons whose employment has been terminated.
Kindly note that this information has been sourced from research carried out on local media by Parker Randall Turner. The above information is all that we have at hand at the moment. However, we will do our best to keep you informed of any further developments. Furthermore, we will not be held responsible for any inaccuracies resulting from the sources mentioned above.