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Extension of rent reduction until August

Businesses that remain closed due to the pandemic restraining measures can extend their rent reduction period (40% reduction) at least until the end of June and in many cases until the end of August. The extension period also applies for businesses in the tourism, catering, transport, culture and sports sectors.

In addition, the same possibility is given to the companies that opened in May, including retail.

All employees whose employment contracts are in temporary suspension status also reserve the right to reduce the rent for their main residence and the student residence of their dependent members.

For the property owners who rent real estate to affected by the pandemic businesses and employees, the deadlines for the payment of their tax and social security payments are suspended. They can also offset part of the lost income with tax liabilities after July.

Original Source: DealNews

Adaptation/Summary: Kiki Athanasiadis