Months 5-6/2020 subsidy for companies in Israel

As we mentioned in this articlethe government has approved a new subsidy for businesses in Israel. This first part concerns companies that invoiced less than 300,000 shekels in 2019. The criteria for obtaining this subsidy:

• Have invoiced less than 300,000 shekels in 2019.
• A drop of at least 40% in sales for months 5-6/2020, compared with 5-6/2019.

What is the amount of this grant?

• The amount of the subsidy is based on your 2019 sales. (see below).

The subsidy in a nutshell

Here are the details of this new grant. Companies and self-employed workers whose sales have fallen by at least 40% over the months 5-6/2020 compared with the same period over the previous year (5-6/2019), can apply for and receive a grant according to the following details: - A business that invoiced less than 300,000 shekels over 2019, will receive a subsidy set according to the following scale:

Sales 2019 (In Nis)	Amount of subsidy
0 – 100,000	3,000 Nis, every 2 months
100,000 – 200,000	4,000 Nis, every 2 months
200,000 – 300,000	6,000 Nis, every 2 months

You can now apply for this grant by logging on to your personal space. Important : This grant is paid as assistance for the months of May and June 2020. If you meet the above-mentioned criteria again, you can apply again at the beginning of September, for the months of July & August 2020.

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How do I apply for the grant?

Click on the following link to connect to the tax site. (You must have your user code): https://secapp.taxes.gov.il/logon/LogonPoint/tmindex.html If you haven't registered yet, you can do so by watching our video by clicking on this link.

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For those who exceeded 300,000 shekels in 2019.

Companies with 2019 annual sales in excess of 300,000 shekels will be able to apply in the next few days for reimbursement of fixed costs. The subsidy will be up to 500,000 shekels (capped at 15% of annual sales). We'll let you know when the option to apply is available.