Over 200,000 Ukrainian entrepreneurs apply for state economic assistance

Ukrainians have submitted over 200,000 electronic applications for one-time economic assistance from the government to receive Hr 8,000 ($283) each. The money will help them continue working during the COVID-19 crisis, according to Economy Minister Ihor Petrashko.

Officially registered entrepreneurs who work in the industries that suffered because of the pandemic can apply for relief via the mobile application or website «Diia» by Dec. 31.

Ukrainian enterprises can also receive $283 to support their workers and avoid layoffs. As of Dec. 18, big Ukrainian employers, including railroad company Ukrzaliznytsia and airline company Wind Rose, submitted applications for nearly 74,000 workers, Petrashko said. They can apply for relief by Dec. 21.

Apart from money, the Ukrainian parliament also offers tax relief for businesses.

For example, private entrepreneurs with an annual income of up to Hr 1 million ($35,350) who don’t hire workers and work in retail or provide personal customer services can be exempted from the $8 unified social tax and $38 single social contribution from December 2020 to May 2021.

Employees who have worked in a company for less than three months and did not pay a single social contribution tax in the third quarter of 2020, as well as those whose monthly wage exceeds $1,060, are not eligible for help.

To assist local businesses that will be forced to suspend operations and lose revenue when Ukraine imposes a new lockdown, the government will allocate Hr 10 billion ($353.5 million) from the COVID-19 fund, Prime Minister Denys Shmyhal said.

Ukraine is also ready to give another Hr 3.5 billion to help local enterprises retain their workers and pay the single social contribution, he said.

Tags: assist Ukrainian businesses, COVID-19 crisis, COVID-19 fund.

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