Slovenia
Measures taken in response to coronavirus (COVID-19) pandemic
Adoption date |
Type of measure |
Beneficiaries' sector specification |
Description of measure |
02/04/2020 |
Public loans |
All non-financial sector |
Slovene Entreprprise Fund may grant the SMEs moratorium of payments arising from obligations from loan contracts of maximum 12 months (Article 81 of the Act Determining the Intervention Measures to Contain the COVID-19 Epidemic and Mitigate its Consequences for Citizens and the Economy. |
20/03/2020 |
Public moratoria |
All non-financial sector |
A law for the moratorium of payments arising from all obligations from loan contracts of maximum 12 month for companies, individual enterpreneurs, farmers has been addopted . |
28/04/2020 |
Public guarantees |
Non-financial corporations |
Ministry of Finance announced establishment of guaranty scheme for companies and mechanism for purchasing companies debts. |
20/03/2020 |
Tax deferrals |
All sectors |
Taxpayers can opt to postpone payment of tax liabilities (applicable to all withholding tax and income tax advance payments) for up to 24 months or to pay the liability in 24 monthly instalments, if there are reductions in revenue due to the COVID-19 pandemic. |
20/03/2020 |
Tax deferrals |
All sectors |
Delay of the deadline for submission of the tax return of the advance payment of personal income tax on income from the activity and tax return of CIT for 2 months |
20/03/2020 |
Tax deferrals |
All sectors |
Deferral of payment of SSCs for self-employed persons who have no other employees and for farmers for three months. The total value of deferred contributions, excluding interest on late payment, will have to be paid by 31 March 2022 at the latest. |
02/04/2020 |
Tax deferrals |
All sectors |
Defferal for advance payment of CIT and PIT on income from the activity for April and May (until April 2021 when tax returns for 2020 are due) . |
02/04/2020 |
Public guarantees |
All non-financial sector |
Government guarantees on moratorium of payments arising from all obligations from loan contracts of maximum 12 month for companies, individual enterpreneurs, farmers and individuals (Article65. Act Determining the Intervention Measures to Contain the COVID-19 Epidemic and Mitigate its Consequences for Citizens and the Economy; ZIUZEOP). |
02/04/2020 |
Tax deferrals |
All sectors |
Exemption of payment of SSCs for self-employed persons, farmers for three months. |
02/04/2020 |
Tax deferrals |
All non-financial sector |
Exemption of payment of all social security insurance contributions for all employeees that wait for work due to temporary incapacity of employer to provide work for business reasons or "force majeure". |
02/04/2020 |
Tax deferrals |
All non-financial sector |
Exemption from payment of all (employers and employees) pension and disability insurance contributions (including contributions for profesional pensions) for employees that continued working in the employment relationship, for the period from 13.3.2020 to 31. 5.2020. |
25/11/2020 |
Tax deferrals |
All sectors |
The postponment of payments of tax (applicable to all withholding tax and income tax advance payments) or SSCs liabilities for up to 24 months or to pay the liability in 24 monthly instalments. The option to postopne payments is available to legal and natural persons for the income from the activity. |
01/03/2020 |
Direct grants |
All non-financial sector |
To help individuals and companies in pandemic situation of covering lost income and employees of covering lost revenues |
26/03/2021 |
Tax deferrals |
All sectors |
Delay of the deadline for submission of the tax return of the advance payment of personal income tax on income from the activity and tax return of CIT for 1 months |
20/03/2020 |
Public guarantees |
All non-financial sector |
Based on the application of te Creditor / Bank in accordance with the Intervention Meassure Deferred Payment of Borrowers Obligations Act (ZIUOPOK), the Slovene Enterprise Fund issues concent for a moratorium on bannk loans secured by the Slovene Enterprise Fund guarantee |
02/04/2020 |
Reporting requirements |
Insurance sector |
ISA informed insurance companies that a 2-week delay in the submission of the annual Quantitative Reporting Templates and 1-week delay in the submission of the Q1-2020 Quantitative Reporting Templates is acceptable. |
16/03/2020 |
Reporting requirements |
Insurance sector |
Weekly reporting about accepted measures regarding daily business |
16/03/2020 |
Reporting requirements |
Insurance sector |
ISA urges insurance and pension companies to evaluate the impact of COVID-19 on their solvency and liquidity position. |
31/03/2020 |
Dividend distribution policy |
Insurance sector |
We addressed a note to insurance companies in which we express our expectations for temporarily suspend all discretionary dividend distributions and share buybacks. |
Other measure |
Banking sector |
With the aim of increasing the resilience of the financial system to financial shocks, maintainting financial stability, preventing disruptions to the financial system and reducing the build-up of systemic risks from the Covid-19 epidemic, the Bank of Slovenia has introduced a temporary restriction on profit distributions by banks and saving banks established in Slovenia. The purpose of the measure is to retain capital at banks so that the Slovenian banking system is better able to withstand potential losses, and to continue supplying credit to businesses and households. The macroprudential measure pursues an intermediate objective of macroprudential policy, namely to limit the systemic impact of misaligned incentives with a view to reduce moral hazard- |
|
Other measure |
Other |
In light of the impact of the Covid-19 epidemic on the real economy and the financial system, Bank of Slovenia is recommending a temporary restriction on the distribution of distributable profit and retained earnings generated in 2019 and 2020 by leasing companies, with the aim of increasing the resilience of the financial system to financial shocks, maintaining financial stability, preventing disruptions to the financial system in Slovenia and reducing the build-up of systemic risks. |
|
13/03/2020 |
Buffer usability |
Banking sector |
LSIs can fully use capital buffers. LSIs can temporarily operate bellow P2G level. LSIs can use capital instruments that do not qualify as CET1 capital to meet P2R. All supervisory measures and decisions remains, implementation dates for SREP qualitative measures are postponed for at least 6 months. |
13/03/2020 |
Liquidity measure |
Banking sector |
LSIs can temporarily operate under LCR levels. |
24/03/2020 |
Borrower-based measure |
Banking sector |
Bank of Slovenia allowed for a milder DSTI assessment for new borrowers whose incomes temporarily declined during the epidemic. |
24/03/2020 |
Special provisioning policy |
Banking sector |
Bank of Slovenia encourages banks (recommendation was extended also to LSI banks) to avoid excessive procyclical effects when applying the IFRS 9 international accounting standard. |
23/04/2020 |
Reporting requirements |
Banking sector |
Bank of Slovenia prepared postponement of the reporting dates for the reports under its competence. |
09/03/2020 |
Reporting requirements |
Fund industry |
Additional reporting requirements on daily redemptions in UCITS funds. |
06/04/2020 |
Dividend distribution policy |
Fund industry |
SMA issued an opinion (based on the recommendation of Slovenian Financial Stability Board) addressed to the asset management companies (UCITS and AIF). In the opinion, SMA advised companies to be highly prudent in case of distribution of profits and retained earnings, so that the capital adequacy of companies will not be jeopardize even if the Covid -19 crises continues. |
02/04/2020 |
Reporting requirements |
All sectors |
Deadline for the publication of annual reports and semi annual reports of public companies was exceptionally prolonged until 31. 5. 2020. This proposal was included in Intervention Measured Act |
06/04/2020 |
Dividend distribution policy |
Securities and markets |
SMA issued an opinion (based on the recommendation of Slovenian Financial Stability Board) addressed to the investment firms and LJSE. In the opinion, SMA advised companies to be highly prudent in case of distribution of profits and retained earnings, so that the capital adequacy of companies will not be jeopardize even if the Covid -19 crises continues. |
06/04/2020 |
Dividend distribution policy |
Infrastructure |
SMA issued an opinion (based on the recommendation of Slovenian Financial Stability Board) addressed to the KDD-Central Securities Clearing Corporation. In the opinion, SMA advised companies to be highly prudent in case of distribution of profits and retained earnings, so that the capital adequacy of companies will not be jeopardize even if the Covid -19 crises continues. |
20/08/2020 |
Dividend distribution policy |
Insurance sector |
We addressed a note to insurance companies in which we recommend to temporarily suspend all discretionary dividend distributions and share buybacks, till the submission of the insurance company Auditor's Report for the year 2020 to the Regulator, but not longer than by 30.04.2021 |
05/03/2021 |
Dividend distribution policy |
Insurance sector |
We addressed a note to insurance companies in which we recommend to temporarily suspend all discretionary dividend distributions and share buybacks by 30.09.2021 |