Local businesses seriously affected by the COVID-19 pandemic can start applying for payroll support under the “Stimulus 3.0” program, after the previous “Stimulus 2.0” relief package ran out of funds in the middle of July, the Ministry of Economic Affairs said yesterday.
The program is aimed at the manufacturing and exhibition sectors, as they are still badly affected by the pandemic, the ministry said.
The retail and restaurant sectors that previously received assistance under the Stimulus 2.0 scheme are no longer eligible, as their business has rebounded, it said.
“As the global COVID-19 situation is still severe and most of our trading partners have not fully lifted border controls, demand remains weak,” the ministry said in a statement, adding that it has allocated NT$15.6 billion (US$528.4 million) for the third-quarter relief program.
“In addition to helping businesses survive a difficult time, this should help maintain more than 300,000 jobs,” it said.
Businesses registered as a manufacturer or as providing technology to a manufacturer would be eligible for government relief if their revenue declined by more than 50 percent year-on-year between July and this month, the ministry said.
The ministry said it would subsidize up to 40 percent of the affected companies’ full-time payroll, with a cap of NT$20,000 per month per employee.
The companies would also receive a one-time payment of NT$10,000 per full-time employee, unless they have already received a similar payment under the Stimulus 2.0 program, the ministry added.
Publicly traded companies must have negative earnings per share either in the first half of the year or in the third quarter to be eligible for the program, it said.
Applications would be processed online until Oct. 31 or when the funds run out, the ministry said.
Meanwhile, the deadline for small and medium-sized enterprises to apply for COVID-19 loan packages for has been extended from Sept. 19 through the end of the year, the ministry said.
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