Of the total amount, €51 million is meant for aid to exporting companies and €19.2 million for aid to tourism operators.
Exporting companies will be able to apply for aid:
- if their exports of goods and services amounted to at least EUR 1 million in 2019;
- if their revenues from the COVID-19 economic crisis have decreased by 20% during the period April to June 2020, compared to the month concerned in 2019;
- if in 2019, the average monthly gross salary paid to employees for which the mandatory national social security contributions have been paid shall are not less than EUR 800;
- if on the date of submission they do not have a tax debt administered by the State Revenue Service, which in total exceeds EUR 1000, except for tax payments which have been granted an extension of the term of payment or a different agreement has been entered.
The aid - one-off grant to compensate for the payment of wages - will be received by the economic operator at 25% of the mandatory national social security contributions paid in 2019, but not more than EUR 800 000. The amount of aid will be received by the performer of economic activity in one payment.
Tourism companies that by March 1 2020 have registered their type of activity in the following areas will be eligible for support:
- Accommodation in hotels, guesthouses and elsewhere;
- The operation of campsites, recreational vehicle areas and residential trailer areas;
- Services related to the leasing of machinery and equipment;
- Professional, scientific and technical services;
- Services of travel offices and tourism operators;
- Services of meetings and organizers of trade;
- Operation of arts facilities;
- The operation of amusement and recreational parks;
- Other entertainment and recreational activities.
Economic operators will receive support:
- if revenues from the COVID-19 economic crisis, have decreased by 30% during the period April to June 2020, compared to the month in 2019;
- if on the date of submission they do not have a tax debt administered by the State Revenue Service, which in total exceeds EUR 1000, except for tax payments which have been granted an extension of the term of payment or a different agreement has been entered.
The aid will be received by the economic operator at 30% of the mandatory national social security contributions paid in 2019, but not more than EUR 800 000. The aid will be received in one payment.
Support programs will be administered by the Latvian Investment and Development Agency (LIAA).
Companies will be able to apply for support by September 30 of this year by submitting an electronically signed application to the LIAA. Upon receipt of the application, LIAA will evaluate the information specified therein, take a decision on the granting of the aid and pay the aid to the company account.
The Ministry of Economy has previously indicated that EUR 70 million could be earmarked for wage subsidies.
