The Government of Aruba came up with four subsidy plans for employees and employers in this period of COVID-19 crisis. Contact CATC-HCC to help navigate the process to ensure accurate results.

  1. The Emergency Social Assistance Fund FASE subsidy of max Afl. 950 per month for employees
  2. The subsidy of max Afl. 4,000 per quarter for employers
  3. One hundred (100) bridging loans of max Afl. 50,000 at Qredits
  4. The payroll support plan.

The most extended plan is the payroll support plan. Some specifications for this plan are summarized below.

How many employees and employers are eligible for the payroll support plan?

  • It is expected that 3,317 companies and 37,000 employees will be eligible for the wage subsidy.

What is the amount of the subsidy?

  • Max 80% of the gross salary, as registered at Banco di Seguro Social (SVb)
  • The maximum subsidized gross salary amount will be Afl. 5,850 per month per employee

Example:

    • If one employee earns Afl. 3,000 per month and the sales drop in the month of May 2020, compared to the month of May 2019 is 70%, then SVb will pay 70% of the 80% on Afl. 3,000,- salary, being Afl. 1,680.
    • If one employee earns Awg 3,000 per month and the sales drop in the month of June 2020, compared to the month of June 2019, is 100%, then the SVb will pay 100% of the 80% on Awg 3,000 salary, being Afl. 2,400.

Conditions

  • No layoffs since March 15, 2020
  • Employees have to be paid 100% of the regular salary if no other agreement is made with the employee
  • The subsidy will be paid based on salary information from SVb dated March 15, 2020
  • Loss of turnover (revenue) is at least 25%

We expect the formal publication with all the details by the Government of Aruba shortly, and will again notify all clients and the public via our website and social media.

 

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