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ARTICLE · 11 MAY 2020

Special Scheme For Partial Suspension Of Business

Further information has been announced by the Ministry of Labour, Welfare and Social Insurance in regards to the application of the Special Scheme for Partial Suspension of Business for coping with the

CyprusCoronavirus (COVID-19)

Further information has been announced by the Ministry of Labour, Welfare and Social Insurance in regards to the application of the Special Scheme for Partial Suspension of Business for coping with the effects of COVID-19.

Any business can be included in the Special Partial Suspension Scheme if its operations have been partially suspended as long as its turnover has decreased by more than 25% for the period starting from March 16, 2020 until April 2020, compared to the corresponding period in 2019. The reduction in turnover should be solely due to the current situation. In case the company did not have operations in 2019, the comparison for the reduction of turnover will be done by using the months immediately preceding March 2020.

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