Amendment of Payroll Support Plan for the month June 2020 on St. Maarten.
On July 14th, 2020, the Government of St. Maarten issued a regulation amending the temporary regulation for payroll support concerning the support of payroll expenses that employers can receive for June.
The most important amendments are:
- The list of sectors that are not eligible for payroll support is not applicable for June;
- 20% of their own payroll expense must be carried by the employee and SZV will provide up to a maximum of 60% of payroll support;
- The amount of support is based on the percentual loss in revenue of the employer. For instance, a loss in revenue of 50% means that 50% of the salary expenses are covered by the support, of which 60% will be financed by the SZV, 20% by the employee and 20% by the employer;
- The names of the employers who receive payroll support in June will be published in the National Gazette, local newspapers and on the internet;
- The deadline for requesting payroll support was July 31st, 2020, but on July 29th the Minister of Finance announced that businesses will be able to apply for June payroll support from July 31st until August 14th.
For more information, please contact Maarten Tervoort of Baker Tilly in St. Maarten at firstname.lastname@example.org.