Over 1600 employers applied for salary subsidy

ORANJESTAD – It is already 1 week ago that the SVb Aruba announced employers that all those who qualify could apply for the subsidy online.

During this week the employers have been offered service and guidance for this process.

Salary Subsidy is financial aid for local employers who have been affected by the current situation due to the Coronavirus pandemic and have lost over 25% revenue.

Salary subsidyNot all employers are eligible for a wage subsidy. There is a list of requirements that the employer must meet. One of the requirements is that the company anticipates a loss of sales of 25% or more. Companies have to be registered at the SVb and the Tax Department and should continue to pay their taxes and social premiums. The salary subsidy is exclusively to help pay for the income of the employees including the respective social premiums, the responsibility of the employer. Employers who have received a negative notification and do not agree with the decision have until June 2, 2020, to file an objection by sending an email to bezwaarloonsubsidie@svbaruba.org.

Of almost 3200 employers who qualified for the month of May, only 1700 employers took advantage of this subsidy. This means that for the month of May 76% of employees’ salaries are partially covered.

The first payment of the subsidy salary will be completed this week. In order to facilitate employers, the subsidy is paid in advance based on the calculated loss of revenue for the month of May. The real revenue loss will be calculated and verified afterward based on the monthly sales for the corresponding month.

Employers who need more information about the salary subsidy can request this by sending an email to the Service Center at loonsubsidie@svbaruba.org or by Whatsapp +297 527-2801.

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