|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Afghanistan||05||05 - Health and income support||AFN||8,000,000,000||101,662,492|
|Afghanistan||05A||05A - Health support||AFN||8,000,000,000||101,662,492||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).||
(i) The government has so far allocated AFN1.9 billion (0.1% of GDP) in the budget for emergency health needs, such as (a) establishing testing labs, including at border crossings, (b) setting up special wards to boost hospitalization and care capacity, and (c) procuring the most critical medical supplies; (ii) As of April 22, the government has already allocated a total of AFN8 billion (0.5% of GDP) for emergency pandemic response. The authorities plan to spend about 2% of GDP for critical pandemic-related spending during the year, with about one-third directed to health;
|Afghanistan||05B||05B - Income support||AFN||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).||
No amount/estimate: To ease tax compliance, the government extended filing deadlines by 2 months, until May 20 for individual and business taxpayers.
|Armenia||05||05 - Health and income support||AMD||30,000,000,000||61,348,610|
|Armenia||05A||05A - Health support||AMD|
|Armenia||05B||05B - Income support||AMD||30,000,000,000||61,348,610||Asbarez. http://asbarez.com/193112/pashinyan-unveils-economic-aid-package-amid-state-of-emergency/ (accessed 16 April 2020).||
(i) No amount/estimate: Subsidize the interest rates of co-financed loans for companies that borrow money from Armenian banks in the national currency to pay salaries, taxes, bills and purchase raw materials; (ii) a package of AMD30 billion (over USD60 million) for urgent social assistance for the impoverished. See Measure 9: No breakdown.
|Azerbaijan||05||05 - Health and income support||AZN||1,093,500,000||643,235,294|
|Azerbaijan||05A||05A - Health support||AZN||8,500,000||5,000,000||World Health Organization (WHO). http://www.euro.who.int/en/countries/azerbaijan/news/news/2020/3/azerbaijan-steps-up-covid-19-preparedness-and-readiness-measures,-welcoming-who-mission (accessed 15 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020).||
(i) March, Azerbaijan is contributing to global efforts to address COVID-19, coordinating with neighboring countries, and has pledged USD5 million to World Health Organization's strategic preparedness and response plan.
|Azerbaijan||05B||05B - Income support||AZN||1,085,000,000||638,235,294||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020); Caspian News. https://caspiannews.com/news-detail/azerbaijan-takes-measures-to-mitigate-covid-19-impact-on-economy-social-life-2020-4-6-1/ (accessed 15 April 2020); European Bank for Reconstruction and Development (EBRD). https://www.ebrd.com/news/2020/ebrd-and-azerbaijans-central-bank-promote-manat-lending-to-coronavirushit-firms.html (accessed 27 May 2020).||
(i) April 6, AZN1 billion (USD588 million) for the government's subsidization of 10% of the interest for one year of existing company loans; (ii) No amount/estimate: April, Tax exemptions for micro-enterprises and value-added tax (VAT) exemption for some food and medicinal products, as well as the raw materials that are necessary for making such stuff; (iii) No amount/estimate: Lump-sum payments in the amount of living wage - AZN190 (USD112) to 200,000 unemployed citizens of the country. The payment is considered for two months. The social package aims to relieve the impact of the novel coronavirus on the social life of people by multiple tools, including creation of 50,000 paid public jobs, tuition support program for students from socially vulnerable families, financial support program for mortgage and credit guarantee mechanism, program to support communal fees, primarily for electricity consumption of the population, and financial support program for vital passenger transport activities; (iv) May 19, USD50 million, or about AZN85 million (of the USD200 million swap with the European Bank for Reconstruction and Development (EBRD)) is allocated as support to local firms, including smaller viable enterprises experiencing temporary difficulties.
|European Central Bank||05||05 - Health and income support||EUR|
|European Central Bank||05A||05A - Health support||EUR|
|European Central Bank||05B||05B - Income support||EUR|
|European Union||05||05 - Health and income support||EUR||216,199,000,000||239,158,185,841|
|European Union||05A||05A - Health support||EUR||3,880,000,000||4,292,035,398||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020).||
(i) EUR800 million of the EU Solidarity Fund will be available by including a public health crisis within its scope, with a view of mobilizing it if needed for the hardest-hit EU member states; (ii) 19 March, the Commission decided to create a European civil protection stockpile of medical equipment (initial budget of EUR50 million, proposed to increase to EUR80 million) with a 90% Commission grant; (iii) 2 April, the Commission presented legislative proposals for an Emergency Support Instrument for the healthcare sector, (EUR3 billion) from the EU budget.
|European Union||05B||05B - Income support||EUR||212,319,000,000||234,866,150,442||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 21 May 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1007 (accessed 12 June 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_997 (accessed 12 June 2020).||
(i) Mobilised European Globalisation Adjustment Fund to support dismissed workers and those self-employed (up to EUR179 million available in 2020); (ii) EUR100 billion to finance the short-term unemployment mechanisms through the loans provided by the EU Commision to EU member states (SURE mechanism) backed by EUR 25 billion of guarantees voluntarily committed by Member States to the EU budget. On May 20, a Regulation establishing SURE entered into force. Countries will be able to use loans also in support of some health-related measures, esp. in the workplace. SURE will become available once all Member States have provided the required guarantees proportionally to gross national income, and will remain available until end-2022 (with the possibility to adjust this deadline) ; (iii) no amount/estimate: March 19, EU Comission intends to allow State aid for struggling businesses and enable Member States to use the full flexibility foreseen under State aid rules. On May 8, the European Commission adopted a second amendment to extend the scope of the State aid Temporary Framework to recapitalization and subordinated debt measures to further support the economy in the context of the coronavirus outbreak. The amended Temporary Framework will be in place until the end of December 2020, except for recapitalization measures which has an extended period by the end of June 2021. The Commission will assess before these dates if they need to be extended; (iv) March, EUR37 billion unallocated funds of cohesion policy funding 2014-2020 will be eligible for Coronavirus crisis related expenditure within the Corona Response Investment Initiative. Member States can use them to support public investment for hospitals, SMEs, labor markets, and stressed regions. The Coronavirus Response Investment Initiative Plus (CRII+), proposed on 2 April, complements the CRII by further enhancing flexibility in the use of cohesion funds. This enhanced flexibility is inter alia provided through transfer possibilities across the three cohesion policy funds (the European Regional Development Fund, European Social Fund and Cohesion Fund), transfers between the different categories of regions (e.g. less vs more developed), flexibility regarding thematic concentration, the possibility for a 100% EU co-financing rate for the accounting year 2020-2021, and simplified procedural steps; (v) European Green Deal investments will remain a priority as part of the EU's efforts to kickstart its economy post-crisis. One of its three sources of funding is a grant, the A Just Transition Fund, which will receive EUR7.5 billion of fresh EU funds. In order to tap into their share of the Fund, Member States will, in dialogue with the Commission, have to identify the eligible territories through dedicated territorial just transition plans. They will also have to commit to match each euro from the Just Transition Fund with money from the European Regional Development Fund and the European Social Fund Plus and provide additional national resources. Taken together, this will provide between EUR30 and EUR50 billion of funding. It will, for example, support workers to develop skills and competences for the job market of the future and help SMEs, start-ups and incubators to create new economic opportunities in these regions. It will also support investments in the clean energy transition, for example in energy efficiency. Another source of funds for this initiative is a public sector loan facility with the European Investment Bank backed by the EU budget to mobilise between EUR25 and EUR30 billion of investments. It will be used for loans to the public sector, for instance for investments in district heating networks and renovation of buildings; (vi) June 8, European Innovation Council (EIC) Accelerator Pilot fund issued grants of EUR140 million to innovative companies [update]; (vii) Proposed modifications to its 2020 budget to make EUR 11.5 billion available for the hardest hit regions, and to support businesses, including those outside of EU borders. These modifications are stopgap measures to provide support while waiting for the European Commission to ratify a budget containing the "Next Generation EU" recovery instrument [update].
|Georgia||05||05 - Health and income support||GEL||350,000,000||115,103,853|
|Georgia||05A||05A - Health support||GEL||350,000,000||115,103,853||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
May 7, Additional funds of about GEL350 million will be directed to health spending including lab testing and quarantine expenditures as well as increased costs associated with hospitalization, medical treatment, and medical supplies.
|Georgia||05B||05B - Income support||GEL||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
No amount/estimate: (i) April 24, The ‘Anti-Crisis Economic Action Plan’ listed the government’s initiatives to support the population and businesses along with the measures already implemented or announced by the government, such as the payment for gas, electricity and utilities for the for users consuming up to 200 kW of electricity and/or up to 200 m3 natural gas monthly; (ii) The government introduced the State Program for Maintaining Prices of Primary Consumption Food Products. The program envisages subsidies for certain imported products to keep their local price stable (rice, pasta, buckwheat, sunflower oil, sugar, milk powder, beans, wheat, and wheat powder) for the period from 15 March to 15 May 2020; (iii) Bank loan service holidays for individuals; income and property tax holidays for hotels (until Nov 1, 2020); (iv) Within the frame of the new program “Co-financing Mechanism for Supporting Family-owned, Small and Medium-size Hotel Industries”, Enterprise Georgia (the agency of the Ministry of Economic and Sustainable Development of Georgia) will co-finance up to 80% of the annual interest rate on loans issued to family-owned, small and medium-sized hotels; (v) The custom clearance term for vehicles imported before 1 April 2020 was extended to 1 September 2020 for car importers; and (vi) VAT refunds will become automatic and will accelerate.
|Hong Kong, China||05||05 - Health and income support||HKD||287,550,000,000||37,031,074,938|
|Hong Kong, China||05A||05A - Health support||HKD||30,000,000,000||3,863,440,265||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 6 May 2020).||
Establishment of a new Anti-Epidemic Fund (HKD30 billion or 1% of gross domestic product [GDP]) to enhance anti-epidemic facilities and services.
|Hong Kong, China||05B||05B - Income support||HKD||257,550,000,000||33,167,634,673||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 6 May 2020). News.gov.hk. https://www.news.gov.hk/eng/2020/06/20200602/20200602_205003_920.html?type=category&name=covid19 (accessed 11 June 2020). News.gov.hk. https://www.news.gov.hk/eng/2020/06/20200608/20200608_192340_279.html?type=category&name=covid19 (accessed 11 June 2020).||
(i) Tax and fee reliefs and other one-off relief measures (HKD79.5 billion or 2.8% of GDP); (ii) Cash payout to permanent residents aged 18 or above (HKD71 billion or 2.5% of GDP); (iii) Employment subsidy scheme (HKD80 billion or 2.8% of GDP); (iv) Sector-specific relief measures (HKD21 billion or 0.7% of GDP); (v) Temporary job creation (HKD6 billion or 0.2% of GDP); (vi) cash payouts to permanent residents aged 18 and above (HKD71 billion or 2.5% of GDP). (vii) No amount/estimate: June 2, Introduction of a subsidy scheme for employment agencies that provide foreign domestic helper placement services from the Anti-Epidemic Fund. [update] (viii) June 8, Authorities announced further support for the travel industry by enhancing the Green Lifestyle Local Tour Incentive Scheme (increased funding of HKG50 million) and extending the subsidy initiative for tourist guides (for 6 monyhs until April 27, 2021). [update]
|Kazakhstan||05||05 - Health and income support||KZT||7,700,000,000,000||18,677,986,659||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020). OECD. https://www.oecd.org/coronavirus/en/ (accessed 21 May 2020) KPMG. https://home.kpmg/xx/en/home/insights/2020/04/kazakhstan-government-and-institution-measures-in-response-to-covid.html (accessed 21 May 2020)||
(i) The President announced a significant anti-crisis package now totaling KZT 5.9 trillion. The anti-crisis package includes cash payments to the unemployed (USD95 per month per person), a 10% increase in pension and social benefits, and additional spending to strengthen the health sector (As of May 20: (a) KZT14.8 billion for the construction of three quarantine modular complexes in Nur-Sultan, Shymkent and Almaty; (b) KZT40.6 billion for incentive measures for healthcare workers participating in quarantine activities; (iii) KZT19.5 billion for health organizations treating coronavirus patients; (c) KZT8 billion in salaries will be paid to doctors, police officers and other specialists) and support employment and business; (ii) An additional KZT1.8 trillion will be allocated to support employment under an “Employment Roadmap” program; and (iii) No amount/estimate: SMEs and individual entrepreneurs are also eligible for new tax incentives; (iv) No amount/estimate: May 14, VAT rate has been reduced from 12% to 8% until 1 October 2020 with the exception of food and drugstores, transportation services, consulting services and information technology.
|Kazakhstan||05A||05A - Health support||KZT|
|Kazakhstan||05B||05B - Income support||KZT||OECD. https://www.oecd.org/coronavirus/en/ (accessed 1 May 2020).||
No amount/estimate: May 20, residents in Almaty can defer utility payments for March and April until the end of 2020 with no fines or penalty. Reimbursement of utilities expenses for April and May in amount of KZT15,000 will also be provided for socially vulnerable groups.
|Kyrgyz Republic||05||05 - Health and income support||KGS||2,312,775,100||31,000,000|
|Kyrgyz Republic||05A||05A - Health support||KGS||1,193,690,374||16,000,000||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 7 May 2020).||
May, The authorities will safeguard health spending at around budgeted levels and create space for increasing health and other spending. In collaboration with international organizations, the authorities have recently adopted a health sector contingency plan, with an estimated cost of USD16 million to provide training for health-care workers, procure personal protective equipment and medical tests, and to put in place a communication plan about measures to contain COVID-19.
|Kyrgyz Republic||05B||05B - Income support||KGS||1,119,084,726||15,000,000||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 May 2020).||
May, To mitigate the impact on the economy, the authorities have approved the first package of anti-crisis plan economic measures of USD15 million including the postponement of tax payments, time-bound exemptions of property and land taxes, and temporary price controls on 11 essential food items. They are preparing a second package of economic measures of about USD540 million, including support food security program to the vulnerable groups, and subsidized credit to banks to provide funding to small and medium-size enterprises through soft loans.
|Mongolia||05||05 - Health and income support||MNT||4,838,793,142,824||1,755,400,000|
|Mongolia||05A||05A - Health support||MNT||198,193,703,412||71,900,000||ADB. https://www.adb.org/sites/default/files/project-documents/54174/54174-001-rrp-en.pdf (accessed 26 May 2020).||
March, Health sector measures (USD71.9 million).
|Mongolia||05B||05B - Income support||MNT||4,640,599,439,412||1,683,500,000||ADB. https://www.adb.org/sites/default/files/project-documents/54174/54174-001-rrp-en.pdf (accessed 26 May 2020).||
March: (i) Measures supporting citizens (USD154.6 million), which includes (a) Personal Income Tax exemption (USD63.2 million); (b) Job retention allowance (USD18.4 million); (c) Child money program (USD12.4 million); (d) VAT refunds (USD14.4 million); (e) Erdenes Tavan Tolgoi Dividends Payout (USD46.2 million). Erdenes Tavan Tolgoi is a state-owned enterprise where each Mongolian citizen owns a share ; (ii) Support to vulnerable businesses and fiscal stimulus measures (USD1,567.9 million), which includes (a) Exemption on social insurance (USD288.2 million); (b) Social insurance penalty exemption (USD4.2 million); (c) Corporate Income Tax exemption (USD10.8 million); (d) Exemption for tax penalties and fines (USD5.4 million); (e) Rental relief (USD7.2 million); (f) Import tax and duties exemption of food products (USD3.6 million); (g) Cashmere sector support (USD118.1 million); (h) Discount on agricultural equipment (USD12.3 million); (i) Capital projects (of which two-thirds does not yet have financing) (USD1,079.1 million).
|Pakistan||05||05 - Health and income support||PKR||1,200,000,000,000||7,231,847,611||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 8 & 15 May 2020); Government of Pakistan, Finance Division. http://www.finance.gov.pk/press_releases.html (accessed 12 June 2020).||
(i) March 24, A relief package worth PKR1.2 trillion has been announced by the federal government: (a) PKR200 billipn relief to daily wage workers, including PKR75 billion of approved cash disbursements to 6.2 million workers; (b) PKR150 billion, cash transfers to low-income families; (c) PKR100 billion, accelerated tax refunds to the export industry; (d) PKR100 billion, financial support to SMEs, in the form of relief on electricity bill payments, bank lending support, and subsidies and tax incentives; (e) PKR280 billion, resources for an accelerated procurement of wheat; (f) PKR50 billion, financial support to utility stores; (g) PKR70 billion, relief in fuel prices; (h) PKR110 billion, electricity bill payments relief; (i) PKR100 billion, emergency contingency fund; (j) PKR25 billion, Transfer to the National Disaster Management Authority (NDMA) for the purchase of necessary equipment to deal with the pandemic; (k) PKR15 billion total support for health and food supplies; (ii) June 10, The Economic Coordination Committee approved an amount of PKR480.566 million (part of the fiscal stimulus package) to cover the risk allowance of health care workers performing duties related to COVID-19 [update]; (iii) June, PKR50 billion agriculture package for farmers and crop growers (part of the PKR1.2 trillion package), likely consisting of reduction of electricity tariff for tube-wells, reduction of import duty on fertilizers, reduction of mark-up and waiver of agricultural loans, and deregulation of the import and export of agricultural products and livestock [update].
|Pakistan||05A||05A - Health support||PKR|
|Pakistan||05B||05B - Income support||PKR|
|People's Republic of China||05||05 - Health and income support||CNY||7,622,400,000,000||1,086,110,146,790||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); Xinhuanet. http://www.xinhuanet.com/english/2020-04/03/c_138944267 (accessed 15 April 2020); The State Council The People's Republic of China. http://english.www.gov.cn/premier/news/202005/29/content_WS5ed058d2c6d0b3f0e9498f21.html (accessed 1 June 2020).||
(i) CNY1.60 trillion for local governments' infrastructure projects to boost investment amid slowing economic activity and trade headwinds with the United States funded by increase in the ceiling for special local government bonds of 1.3 percent of GDP. The main buyers of such bonds have been state-owned policy banks; (iv) By the end of April, local governments had given out more than CNY6.5 billion worth of consumer vouchers, essentially government subsidised coupons or discounts that can be spent at designated venues, according to data from 42 cities collated by the Chinese Academy of Social Sciences (CASS); (v) May 28, announced CNY2 trillion in increase in fiscal deficits and issuance of of special treasury bonds worth of CNY1 trillion of which CNY300 billion will be used by local governments for COVID-19 prevention and while the rest to support local governments’ operations. The increase of budget deficits and funds raised from the issuance of government bonds for COVID-19 control will all be channeled to primary-level governments. Companies, especially smaller firms, will truly benefit from these funds, and people who live on social security schemes, subsistence allowance, unemployment benefits, old-age support and those living in difficulties will be able to benefit. About CNY4 trillion covers payment relief for enterprises of their contributions to social security schemes, and taps into the balance of the unemployment insurance fund, interest concessions made by state-owned commercial banks, and price reductions in natural monopoly industries to lower enterprises’ operating costs. This money will be primarily used to support jobs, people’s basic living needs and businesses, and sustain household income. The government also said expenditure on investment projects will rise by 22.4 billion yuan for 2020.
|People's Republic of China||05A||05A - Health support||CNY|
|People's Republic of China||05B||05B - Income support||CNY|
|Republic of Korea||05||05 - Health and income support||KRW||40,000,000,000,000||32,784,564,431|
|Republic of Korea||05A||05A - Health support||KRW||2,100,000,000,000||1,721,189,633||OECD. https://www.oecd.org/coronavirus/en/ (accessed 24 April 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 1 May 2020).||
(i) March 17, The National Assembly approved the budget of KRW2.1 trillion for disease control, i.e., epidemic prevention and treatment, support for medical institution and quarantined people; (ii) April 14, No amount/estimate: Temporary elimination of import tariffs on surgical and sanitary masks and melt blown filters until June 30, 2020.
|Republic of Korea||05B||05B - Income support||KRW||37,900,000,000,000||31,063,374,798||OECD. https://www.oecd.org/coronavirus/en/ (accessed 24 April 2020).||
(i) February, The government announced emergency support of KRW20 trillion for households and damaged industries, such as tourism and export industries; (ii) In March 17: The National Assembly approved (a) loans and guarantees for small businesses, indirect support of wage and rent for small merchants (KRW4.1 trillion), (b) consumption coupons for the poor, emergency family care and employment retention support (KRW3.5 trillion), and (c) support for issuing local gift certificate, local government grants for infection prevention (KRW1.2 trillion); (iii) March 31, The government announced an emergency relief payment plan of KRW9.1 trillion (USD7.4 billion) to address the virus outbreak. The government plans to pay relief checks to households in the bottom 70% income bracket (around 14 million households), of up to KRW1 million (USD820) per household. For this, a second supplementary budget was submitted to the National Assembly and passed on April 30; and (iv) No amount/estimate: Some local governments have announced cash support for people (a) Gyeonggi province announced KRW100,000 (USD82) to all residents, and (b) Seoul and Daejeon have a similar plan without specific criteria.
|Taipei,China||05||05 - Health and income support||TWD||210,000,000,000||6,969,681,884|
|Taipei,China||05A||05A - Health support||TWD||36,100,000,000||1,198,121,505||EY. https://www.ey.com/en_gl/tax/how-covid-19-is-causing-governments-to-adopt-economic-stimulus--; https://bit.ly/2A2ytcS; https://bit.ly/3cjQfGU; https://bit.ly/2YMAO66 (all accessed 8 May 2020).||
(i) February 25, Taipei,China's authorities passed the statute for prevention and rehabilitation of severe infectious pneumonia (the Statute). The Statute, which was enacted accordingly, is in response to the recent COVID-19 outbreak and aims to alleviate its impact on the domestic economy and society. The budget connected with the statute is TWD60 billion (approximately USD2 billion); April: (ii) The approved budget connected with the Statute is now TWD210 billion (approximately USD7 billion); (iii) Of the TWD60 billion budget, the authorities will spend NTD19.6 billion in transforming hospitals into isolation venues, establishing quarantine and testing venues for the virus, requisitioning medical materials and allocating funds as subsidies for schools and the transportation industry to battle the virus contagion; (iv) April 23, The Cabinet allocated the bulk of a special TWD150 billion (USD4.98 billion) budget to revitalizing the domestic economy, which has been hard hit by the COVID-19 coronavirus pandemic. Of the budget, NTD16.5 billion will be used to help fund the country's health response and recovery efforts amid the COVID-19 pandemic; (v) May 8, The authorities has given final approval to the NTD150 billion (USD5.02 billion) special budget to finance measures to support the economy amid the global COVID-19 pandemic.
|Taipei,China||05B||05B - Income support||TWD||173,900,000,000||5,771,560,379||News articles: https://bit.ly/2A2ytcS; https://bit.ly/3cjQfGU (both accessed 8 May 2020); https://bit.ly/2ZPydJn (accessed 27 May 2020); KPMG. https://bit.ly/2LvD7ms (accessed 14 May 2020); Executive Yuan. https://english.ey.gov.tw/Page/61BF20C3E89B856/07dd64bc-5609-426c-bcb0-9aec3aabcab7 (accessed 5 June 2020).||
(i) Under the TWD60 billion budget, the authorities will assign NTD40.4 billion to subsidize a wide range of industrial sectors that have been hit by the COVID-19 spread, such as the service industry, the manufacturing industry, the tourism industry, the transportation industry, the agriculture/fishing industry, and the arts/cultural industry; (ii) Of the TWD150 billion special budget, NTD133.5 billion will go toward helping with the recovery of local businesses and other entities and providing relief to self-employed workers, according to the Directorate General of Budget, Accounting and Statistics (DGBAS); (iii) No amount/estimate: Aiming at alleviating the impact of the coronavirus (COVID-19) pandemic, the authorities introduced several supportive tax measures including (a) deferral of tax payments or by installments for affected enterprises and individuals, (b) extension of tax filing and payment deadline under special circumstances (e.g. quarantine or isolation), and (c) corporate income tax 200% deduction on certain salary expenses; (iv) No amount/estimate: May 27, The Ministry of Transportation and Communications will provide travel subsidies to encourage domestic travel effective July 1. The ministry is planning campaigns that will subsidize the group travel sector to the tune of NTD600–NTD700 (USD20–USD23) per person per day, while the independent travel sector will enjoy a subsidy of NTD1,000 per room per night; (v) No amount/estimate: The authorities announced a "triple stimulus" voucher program that allows people to purchase NTD3,000 (USD100) worth of vouchers for just NTD1,000. By encouraging spending and stimulating the economy, the program will help the economy to turn the crisis into opportunity and safely weather the coronavirus pandemic [update].