The Department of Finance and Treasury (DoFT) says all complete payments to businesses that qualify will be completed in early 2022.
In regards to the Wage Subsidy Scheme, at the closing date the department received a total of 182 qualified applications. All 182 applications have been assessed and payments have been made to the respective businesses according to their VNPF contributions.
According to the criteria, businesses must pay their employees their total correct wage and VNPF contributions as normal, and then the Government will check VNPF submissions and reimburse the business afterwards for 50% of the wage up to a total of VT 15,000. The table below shows that number of businesses paid for the months of May to October 2021.
According to the criteria, businesses must pay their employees their total correct wage and VNPF contributions as normal. The Government then checks VNPF submissions and reimburse the business for 50% of the wage, up to a total of VT15,000.
A total of 5,239 applications were received under the SBG. To date, approximately 49.3% of the applications received have received their payments.
The DoFT reported a number of issues that resulted in the delay of payments for applicants under these schemes.
Several important documents are required under the Second Policy Stimulus Policy for each scheme, which assessors are required to verify each applicant according to the eligibility criteria.
The first requirement is an Authorization letter.
In accordance with the SBG criteria, all applicants must have an authorization letter, particularly business license holders who do not have bank accounts and want to use another person’s account to transfer their payment to.
The second is business licenses that are issued after the cutoff period eligible are not qualified.
Some of the businesses that have applied did not include a bank confirmation letter. It is a prerequisite that a business must have a bank confirmation letter. Assessors will liaise with the applicant to send their confirmation letters before any payments can be made.
The Department also advised that it is not receiving clients from December 23, 2021 to January 3, 2022.
They will start accepting clients on January 5, 2022.
Photo supplied Caption: A summary graph of payments made to businesses this year.