Aid for uncovered fixed costs under the Act on Support for Business Costs to be extended
On 25 May 2022, the Government issued a Decree on the entry into force of an amendment to the Act on Temporary Support for Business Costs for Companies. The Act applies to support for uncovered fixed costs and is intended especially for larger companies to compensate them for the financial losses caused by the coronavirus pandemic.
A company would be eligible for business cost support if it was subject to a restriction under public law to stop the spread of a pandemic and the company had already received or was about to reach the maximum amount of aid (EUR 2.3 million), but the granting of business cost support were still be justified. The maximum amount of support available would be EUR 6 million. The uncovered fixed costs of a company could be compensated up to the maximum amount of EUR 12 million. The support period would be between December 2021 and February 2022. The reference periods would be January-February and December 2019.
This form of support was in use in 2021 when approximately EUR 20 million was granted. The Act, which is to enter into force now, would limit the number of companies eligible for support to target only those restrictions and obstacles imposed by law or an authority, similarly to the rules applied to the later rounds of business cost support.
The Act and the Decree will enter into force on 27 May 2022. The State Treasury, which will grant the aid, will provide more information on the start and duration of the application period later.
Mikko Huuskonen, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 29 506 3732