Council of Ministers: Further solutions supporting the economy to be implemented

Interest subsidies, protection of Polish companies against takeovers, and aid for communes are among the most important solutions included in the next Anti-Crisis Act adopted by the government.


Budynek KPRM.

Interest subsidies

As a result of new regulations, banks will provide loans to companies affected by COVID-19, while the repayment of loan interest will be supported by Bank Gospodarstwa Krajowego. This year, almost PLN 300 million will be provided for these subsidies, followed by PLN 270 million next year.

Poland says no to taking over Polish companies

The next solution provides for the protection of Polish companies against hostile takeovers by non-EU investors. This applies to Polish companies whose evaluation may be especially low due to the coronavirus epidemic. This solution is to adopted for 2 years.

Support for communes

Aid will also be provided for self-governments having lower tax revenue due to COVID-19. In 2020, the fiscal rule limiting the indebtedness of self-governments will be relaxed. They will receive every second Polish zloty instead of every fourth Polish zloty, which will help them overcome financial troubles.

Loan holiday

It will be possible to suspend the repayment of loans for a maximum of 3 months. During this period, interest or other fees will not be charged (except for insurance related to the loan agreement). This solution will apply to people who have lost their jobs or other main sources of income after 13 March 2020.

Tax advantages

Another important solution provides for the possibility of deducting more donations from the base used to calculate income tax. This will apply to, for example, donations to houses for mothers with children under age and pregnant women, doss houses, hostels for homeless persons, and social assistance houses. This solution aims to honour the promise made by President Andrzej Duda.

 


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