Information is continuing to emerge on COVID-19 and the resulting legislative changes being instituted in Ireland. We have compiled a list of important updates for Irish employers to be aware of. Our teams are closely monitoring the situation and will continue to provide the latest updates to keep you informed.
COVID-19 Updates - Ireland
Last Updated – March 27, 2020
Measures include a EUR 2.4 billion relief package.
Tax and Business Loans
- Suspended all late Value Added Tax (VAT) penalties
- A deferral of up to three months on loan repayments may be available to many businesses. In addition, banks are adopting a more supportive approach including extensions of credit lines, risk guarantees, and trade finance.
- The EUR 2.4 billion package includes sick pay, illness benefit and supplementary benefit to help people self-isolate as needed. The measure supplements the income protection provided by the current social welfare system
- No more 6 waiting days for sick pay for medically-certified cases of self-isolation in accordance with public health guidelines
- The personal rate of Illness Benefit will be increased from EUR 203 per week to EUR 305 per week for a maximum period of 2 weeks of medically certified self-isolation, or for the duration of a person’s medically-certified absence from work.
- Systematic short – time working scheme is available for employees who may work on reduced working arrangement.
- Temporary COVID-19 wage subsidy scheme that provides, for 12 weeks, a program focused on assisting employers with employees who were laid off without pay.
- Under the new program employers will:
- Get a refund of up to a maximum of €410 per each qualifying employee.
- Beginning in April 2020, the program will move to a subsidy payment, based on 70% of the weekly average take home pay for each employee up to a maximum payment of €410.
- Government authorities will issue further detailed guidance on the calculation of the subsidy amount for different employee earning levels
- Employee social insurance is not included in the subsidy amount and the employer’s portion will apply at a rate of 0.5%.