The Federal Government announced several measures to stimulate the economy. The estimate is that more than R$750 billion will be injected into the Brazilian economy in the next three months. But do you know what these actions are and which of them are already effective?
Check out the main measures already announced for Brazilian companies, including those in the photovoltaic solar energy sector.
- FGTS installments
Companies will be able to interrupt the collection of the Service Time Guarantee Fund (FGTS) from workers for the months of March, April and May. The measure is already in force. Entrepreneurs who opt for this measure must inform the government via eSocial by the 7th of each month to avoid incurring a fine on the late amount.
The amount can be paid later, with the possibility of paying in up to six installments. According to the government, the measure aims to alleviate the impact on the cash flow of companies affected by the crisis.
- Extension of tax payments
Individual microentrepreneurs (MEI) and Simples Nacional companies can postpone the payment of federal taxes for the months of March, April and May 2020 to October, November and December, respectively.
The measure is already in force and aims to reduce expenses for companies economically affected due to the Covid-19 pandemic.
- Debt extension
The deadline for paying loans and real estate financing installments made at Banco do Brasil, Bradesco, Caixa Econômica Federal, Itaú Unibanco and Santander were extended by up to 60 days.
Individuals and legal entities with loans and financing obtained through the five banks are entitled to this benefit. The measure is already in force.
To be eligible, you must contact the bank to renegotiate the expiration date. This action aims to relieve family budgets and companies' cash flow.
- Credit for payment of salaries
Small and medium-sized companies that earn between R$360 and R$10 million annually will have a line of credit available to pay their employees' salaries for two months. The interest rate will be 3,75% per year, with a six-month grace period and a 36-month payment period.
Companies that seek this aid will not be able to lay off employees for two months. According to the Central Bank, the objective is to boost companies' cash flow and guarantee the maintenance of 12 million jobs. The measure is awaiting the creation of a provisional measure to be implemented.
- Suspension of contract and reduction of working hours
Companies will be able to negotiate with their employees to reduce working hours or temporarily suspend employment contracts. The objective is to guarantee the maintenance of jobs in the country.
The government is expected to announce the details of the measure in the coming days. The possibility is being studied that the worker may receive part of the unemployment insurance while his income is reduced.
- Increased liquidity in the financial system
Among the measures announced are the additional release of R$68 billion in banks' compulsory deposits, the study of loan permission from the Central Bank backed by Letras Financeiras from securitized credit portfolios, the provisional repurchase of external debt securities and loans with backed by corporate debt securities.
The objective is to increase the supply of credit in the market, releasing approximately R$1,2 trillion in liquidity into the Brazilian economy. According to moves by the federal government, the measures should be implemented gradually in the coming months.
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