Practical information for businesses

MOEA Covid-19 Corporate Bailout Instruction (Part 1)

PART 1 - Bailout Package Explanation

The details of the bailout plan for Covid-19 crisis is provided by Taiwan MOEA to help enterprises and industries to relieve the impact of the global economic recession, and also to turn this crisis into opportunity by helping the industries to upgrade their services.

Plan:
GUARANTEE EMPLOYEE'S SALARY:
- Salary and Operation Expense Subsidy

SUBSIDIZE CORPORATE EXPENSE:
- Bank Loan Program

MOEA Covid-19 Corporate Bailout Instruction PART 1

MOEA Covid-19 Corporate Bailout Instruction (Part 2)

PART 2 - Conditions to Benefit from the Bailout Package

This part concerns subsidies' conditions and application process for Service/Technique upgrade and for Industry transformation.

Plan:
INDUSTRIAL UPGRADING:
- Traditional Manufacturing's innovative R&D plan
- Manufacturing SMEs' real-time counseling plan
- SMEs' innovative R&D plan
- R&D's plans
- Innovation Platform

INDUSTRIAL TRANSFORMATION:
- Environment Improvement (public commercial areas, markets and night markets)
- Digital Channel (Delivery service for F&B sector, E-commerce service for retailers)

RETAIN TALENT (to be continued)
- Service Industries (Food service and retailer)
- Manufacturing (and technical service industries related)

MOEA Covid-19 Corporate Bailout Instruction PART 2

Taiwan government bailout plan helps the service industry and manufacturing

The government bailout plan encourages enterprises to level up the business. The service and manufacturing industry could receive up to 20 million appropriations to subsidize their R&D expenditure!

The Taiwan government is helping the F&B sector with 3.3 Billion TWD (NT$) (110 million USD) to assist on setting up food delivery systems and stores to become digital (among many other initiatives).

Full article (Chinese)

Third automatic 30-day extension for foreigners entering Taiwan on or before March 21 with visa waiver, visitor visa, or landing visa (no application required) (overstayers excepted)

MOFA announces that all travelers who entered Taiwan on or before March 21, 2020, on a visitor visa, a landing visa, or through a visa-waiver program and who have not overstayed their legal stay period will now be granted a third automatic 30-day extension (The duration of stay has thus been extended to 90 days in total). No application is required. The total period of stay cannot exceed 180 days. (The day after the entry date will be counted as the first day of stay). These conditions are subject to change and may be adjusted as circumstances require.

In addition, the National Immigration Agency (NIA) has announced the Expanded Overstayers Voluntary Departure Program. Foreign nationals who have overstayed their visas and turn themselves in from March 20 to June 30 are entitled to penalty relief measures: They will not be detained or receive an entry ban, and will be given only a minimum fine.

Full article

MOEA launches hotline to help businesses access economic stimulus funds

SUMMARY

Taiwan's Ministry of Economic Affairs (MOEA) on Friday launched a free hotline to help businesses determine whether they are eligible for special funding amid government efforts to mitigate the impact of the coronavirus pandemic and connect them with designated contacts at the government agencies handling the funds.

The services available to businesses include loan deferments, subsidized training programs and discounts on utilities.
The hotline, which will offer services in Chinese and English, is open seven days a week from 8:30 a.m. to 6:30 p.m., the ministry said.

Full article

Government reiterates support for struggling service businesses,

Taiwan's government will focus on supporting struggling businesses in the services sector to get through the new coronavirus epidemic rather than distribute money directly to consumers. it plans to spend a total of NT$150 billion on novel coronavirus relief plans.

The Measures are still pending until a budget covering the amount to be spent is approved.


- Licensed enterprises that reported a drop of at least 50 percent in their revenues in two consecutive months will be eligible for subsidies if they didn’t reduce work hours, lay off workers or cut the salaries of their employees.

- It include grants covering 40 percent of the regular salary of a full-time employee each month from April to June

- In addition, businesses with 50 percent declines in revenue will also be entitled to 30 percent discounts on electricity bills, while those reporting at least 15 percent revenue drops will get 10 percent discounts on water and electricity bills.

Full article
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