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Extraordinary economic aid - November aid

Dear clients, dear friends,

 

the "shut down light" again requires some companies to make substantial losses in sales. The federal government is trying to compensate this with the so-called "extraordinary economic aid - November aid".

 

This is a non-repayable subsidy, the basic conditions of which are explained below:

 

Eligible applicants:

 

Eligible for application are companies that had to stop their business operations. Since this is regardless of the organizational form, municipal institutions are also eligible! In addition, hotels and companies that regularly generate 80% of their sales with companies that had to close down are eligible to apply.

 

For companies, which are not eligible, there will probably be a interim aid III, which is still being prepared on at present.

 

Amount of the subsidy:

 

Companies will receive 75% of their average weekly sales from November 2019 per week of closure, with the exception of self-employed persons. They can also use the average weekly sales of the entire year 2019 as a basis. Another exception applies to companies that exist from November 2019 onwards. They can take the average weekly sales from October 2020 or the sales since their foundation as the basis of assessment.

 

The maximum subsidy is generally 1 million €.

 

Reduction of the subsidy:

 

Other government benefits, such as the interim aid or the short-time working compensation, are credited against the subsidy. In addition, the sales actually generated in November 2020 are generally offset, with the following exception - up to 25% of the comparative sales in November 2019 are excluded from the crediting.

 

Example:

A laundry generates 90% of its sales to hotels. The company is eligible to apply. Since sales of  100,000 € were achieved in November 2019, the subsidy amounts to 75,000 €. Nevertheless, in November 2020, with a few hotels still open, sales of 30,000 € are generated. These achieved sales are to be credited up to 25% of the previous year's sales, i.e. 25,000 €. After crediting 5,000 €, the subsidy of 70,000 € will be paid out. The laundry has thus again generated 100,000 € in November 2020.

 

Special regulation for restaurants with takeout sales:

 

For restaurants with takeout sales, the 75% subsidy will only be granted for in-house sales from November 2019. There will be no crediting of all takeout sales in November 2020.

 

Application procedure:

 

The application is made electronically via the tax consultant, auditor, accountant or lawyer. An exception is made for self-employed persons, who may submit the application themselves for a maximum subsidy of 5,000 €.

 

The application form is currently still being programmed.

 

Please contact us if you would like to apply for the subsidy!

 

You can find further information here:

https://www.bundesfinanzministerium.de/Content/DE/Standardartikel/Themen/Schlaglichter/Corona-Schutzschild/2020-11-05-faq-ausserordentliche-wirtschaftshilfe.html

 

Best regards

SKS Steuerberater Sonkin, Seifert and Partner mbB

Office Berlin

Phone: +49 30 308 743 74
Fax: +49 30 308 743 75
E-Mail: info@sks-stb.de
 
SKS Steuerberatung Berlin
Schumannstraße 2
DE-10117 Berlin

Office Dresden

Phone: +49 351 563 94 00
Fax: +49 351 563 940 99
E-Mail:  info@sks-stb.de
 
SKS Steuerberatung Dresden
Glacisstraße 4
DE-01099 Dresden

Office Kiew

Fax: +38 44 2878846

E-Mail: info@sks-stb.de

 

SKS Steuerberatung Kiew

Sholudenko Straße 3

Business-Center “Kubik-2”

UA-04116 Kiew

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