Time to settle the PFR Financial Shield 1.0 subsidy for micro, small and medium enterprises.

If you have taken advantage of a financial subsidy under the PFR 1.0 Shield, the time for its settlement is now approaching. This settlement must be made within 10 business days after the elapse of 12 months from the disbursement of the subsidy. 

Businesses in selected industries will be able to retain as much as 100% of the subsidy provided that they satisfy the requisite conditions. For more on this topic [link to Agnieszka Piasecka’s article].

Other businesses must reckon with repaying at least 25% of the subsidy. Those persons who have run their business for 12 months after receiving the subsidy may unconditionally retain another 25% of that amount provided that they did not suspend their business for even 1 day.

Whether a business can retain the other 50% of the amount received depends on fulfilling additional conditions. This depends on maintaining headcount in the case of micro businesses. On top of maintaining headcount, the extent of the loss suffered is also of importance in the case of small and medium businesses. 

We would like to remind you that the revised regulations for making settlements concerning subsidies obtained under the PFR Financial Shield 1.0 have been in force since 28 April 2021. 
 

Find more in the PRO HR May 2021.