Corona measures: update

The Flemish government now also introduced a compensation premium for companies and independents which were not forced by the Federal guidelines to suspend their business activities partly or completely. The one-time compensation premium amounts to 3.000 EUR.

Companies and independents need to prove that the turnover for the period between 15 March 2020 and 30 April 2020 is minimum 60 per cent less than the turnover during the same period of last year.

For starting companies, turnover will be compared with the turnover as indicated in the financial plan deposited with the Notary for the foundation of the company. At this time, it is unclear how independents with a personal business can prove this, as they don’t need to deposit a financial plan when they start with a business. 

Also non-profit organizations (“VZW’s”) are allowed to receive the compensation premium, on the condition that minimum one person is employed full-time.

Independents in secondary profession with an income between 6.996,89 EUR and 13.993,78 EUR, can apply for a compensation premium of 1.500 EUR. The compensation premium is anyhow not granted if they combine their business with a main profession as employee for 80% or more.

It is also not specified if a premium can be applied for a company and for a private business together, when both are managed by the same director.

At this moment, the online application form is not available yet.  More news will follow in due time.