We are delighted to share with you the changes that the Department of Finance have made regarding the ESP. Most notably, the conditions have been relaxed meaning that more businesses will be considered for payments.
The new condition is that businesses can demonstrate that they have been affected by the economic down turn. The Department of Finance is asking businesses to demonstrate this by presenting a VAT payment receipt from 2019, and for the same period in 2020, highlighting in an accompanying statement the effects of this reduction in income. Any business with a valid business license may now apply for the ESP.
Finance will be assessing each application individually and will reply to you to advise you if your application has been successful.
How do I apply if I have already submitted my application?
If you have already applied for the ESP, you will simply need to email the Department of Finance (firstname.lastname@example.org) and let them know you have already submitted and application, AND include in this email:
- A 2019 and comparable 2020 VAT receipt
- A short explanation what the nature of your business is and how the economic has affected your business
- Include updated VNPF receipts and schedules for April, May, June 2020 to receive your monthly payments
Additional requirements to receive the April, May and June payments
If you submitted your application and are now waiting on April, May and June’s payments you need to submit to Finance the following additional paperwork:
- VNPF March, April and May receipts and Schedule if paid;
- List of employees who have received payment in the month of March (with employees’ signatures);
- List of employees whose employment status has changed since the date of submitting your ESP application for the month of March.
If it’s all a bit confusing?
We totally understand that things have changed a few times and that in these stressful times this may all be a bit confusing. If you would like support in your application, please come in to the VCCI office, call us on 27523 or email to email@example.com and we can assist you.