French Government financial support to cover fixed costs
![](https://www.primexis.fr/content/uploads/2021/03/VIGNETTE-TOURISME.jpg)
The enforcement decree regarding the financial support to cover fixed costs for hospitality and tourism sectors has been published on March 24, 2021.
The main items are the following:
- Entities eligible to French solidarity fund for January and/or February 2021
- Turnover decrease in January and February 2021 must be higher than 50 % as compared to the same period in 2019
- Entities must have been incorporated before January 1, 2019
- The Gross Operating Profit (GOP) must be negative for the cumulated period January February 2021
- The monthly turnover (January and February 2019) must be higher than 1m€ or the average turnover must be higher than 12m€ in 2019 (for the company or the group)
The financial support will be equal to 70% of the negative GOP or 90 % for SMEs (as defined by rule CE n°70/2001).
The financial support is capped to 10m€ for the first semester of 2021.
The Gross Operating Profit must be computed by a French Chartered Accountant based on the general ledger and the trial balance for the eligible periods.
January & February 2021 financial support can be requested after a 15 days period following the deposit of the February 2021 solidarity fund.
The following documents will have to be sent along with the request:
- A sworn statement that the company is eligible for this financial support.
- A confirmation letter from a Chartered Accountant regarding: the January and February 2021 GOP and turnover and the 2019 same period turnover.
The confirmation letter will enforce some French Chartered Accountant diligences in relation with the GOP computation.
–>> For more information : contact our team dedicated to the Hospitality sector