Following the lockdown that came into force on 19 December 2021, the Government has further expanded the support package for the fourth quarter of 2021, according to the Letter to Parliament dated 21 December 2021. For details of the previous expansion, see our article NOW-5 and the relaxation of the TVL.
Medium- to long-term vision
The support package for the first quarter of 2022 remains largely unchanged, as announced in the Letter to Parliament dated 14 December 2021. By March 2022 at the latest, the Government will set out its vision for the medium- to long-term approach to coronavirus support.
NOW-5 and 6
The NOW-5 (November and December 2021) and NOW-6 (first quarter of 2022) subsidy schemes are being extended beyond what was previously announced:
- the maximum loss of turnover eligible for compensation is increased from 80% to 90%;
- No (annual) turnover loss threshold will be introduced for NOW-5 and -6 (although the study into the feasibility of such a threshold will continue with a view to any subsequent NOW periods).
TVL
The turnover threshold for the TVL will be reduced on a one-off basis for the fourth quarter of 2021 from 30% to 20%. However, for the first quarter of 2022, the threshold will remain at 30%. There will be no stock compensation for the hospitality and retail sectors.
The amendment to TVL Q4-2021 is still subject to approval by the European Commission (EC). Businesses with a loss of turnover of between 20% and 30% will only receive approval from RVO once the EC has approved the scheme.
Heart-rending cases
The Government will continue to monitor cases of hardship and will assess the extent to which this group can be better reached through the various support measures. Parliament will be briefed on this matter in the first quarter of 2022.
Tax deferral
In the Letter to Parliament dated 26 November 2021 It has already been announced that the deferral of tax payments will be extended until 31 January 2022. See also our article Yet another special reprieve. In January, the Government will reassess how tax obligations relate to the restrictive measures.