Aid to employers
Aid to employersLast update: 15/07/2021
The CTTR (Total Temporary Layoff) and Partial Exemption from Employers' Contributions are extended until December 2021, 30 September 2021, with, however, access conditions taking into account the economic recovery.
Businesses in Monaco that are encountering proven financial difficulties may request a review of their situation with a view to staggering tax payments (corporate tax and/or VAT only). The businesses concerned nonetheless have a responsibility to comply with their reporting obligations by the legal deadlines. For more information on this measure: How-to-declare-and-pay-VAT
Yes. Employers and self-employed workers in the Principality who are experiencing a significant drop in business as a result of the coronavirus epidemic and are unable to make the next payments due may submit a request to the Monaco Social Security Funds Collection Office, describing the nature of the difficulties encountered and full contact details, including the registration number of the self-employed worker and/or company.
Please note that employers must, in all cases, continue to complete the usual declarations. This measure covers Social Services Compensation Fund (CCSS), Independent Pensions Fund (CAR) and unemployment insurance contributions, as well as Sickness, Accident and Maternity Insurance for the Self-Employed (CAMTI) and Independent Pensions Fund for the Self-Employed (CARTI) contributions.
Reviews are carried out on a case-by-case basis. A response will be sent by email as soon as possible.
More information on www.en.caisses-sociales.mc
The Welcome Office's Covid19 Business Unit remains open to businesses in difficulty due to the global crisis. For any request, write to [email protected]
The Prince’s Government is putting in place a social safeguard clause. If you are an employer and you hire an individual who has worked in Monaco for more than 20 years and recently lost their job due to COVID-19, you will be exempted from paying social security contributions. There are currently nearly 5,000 employees who have worked in the Principality for more than 20 years.
Paid leave accrued while an employee was subject to strengthened provisions for total temporary layoff (CTTR) between 01/05/20 and 30/04/21 will be transferred to the CTTR scheme.
Employees can decide either to take paid leave accrued during the CTTR period as holiday days or to convert it to monetary compensation.
Employees will receive 10% of the total amount of the Partial Activity Payment that they received between 01/05/20 and 30/04/21.
Since the amount used as the basis for calculating the payment to the employee is not subject to social security contributions, the amount to be paid in lieu of paid leave accrued under CTTR will not be subject to such contributions either.
Employers will receive reimbursement of 80% of the amount of the Partial Activity Compensation that they received between 01/05/20 and 30/04/21.
Reimbursements will be paid by the State based on declarations submitted using the online service to be launched shortly in accordance with the conditions that will be announced at that time.