UPDATE: Salary Subsidy for Employment Retention - August 2020 Application
Tax Newsflash Aruba
The Social Insurance Bank of Aruba (hereinafter: SVB) issued an updated notification regarding the start of the salary subsidy application process for the month of August 2020. In this newsflash we will provide you with an update on the process of this salary subsidy application.
The application period for the salary subsidy for the month of August 2020 starts tomorrow Friday, 21 August 2020 at 8.00 AM and will end on Thursday, 27 August 2020 at 11.59 PM (Aruba time).
SVB indicates that it will not accept any applications after the application deadline on 27 August 2020 by 11.59 PM. As informed in our previous newsflash, the application and application form must be completed and uploaded correctly on the digital portal MiSVb of the employer.
An employee may authorize someone else to sign on his or her behalf. If this is the case, the employee needs to authorize this person with an authorization letter signed by the employee and the authorized representative. In addition, the employee must attach a copy of the identification of the employee and authorized representative to the authorization letter. This authorization letter needs to be kept on file by the employer. Do not send the letter to SVB. Behind the signature of the authorized representative the employee must note ‘Authorized’.
Payment of subsidy
SVB indicates that the advance for the salary subsidy of August 2020 will be transferred to the bank account of the employer, registered at SVB, starting August 31, 2020. SVB indicates that the employer will receive an email notification when the transfer is made. It is important for the employer to ensure that all its bank information and details are up to date and accurately registered at SVB to avoid any issues or delays when transferring the advance for the salary subsidy of August 2020.
We trust that you will find this newsflash helpful. Let us know if you have questions and if you would like further information.
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