French businesses temporarily exempt from property payments

The French President introduced a delay in utility and rental payments for small businesses. The country’s authorities are trying to support the economy in connection with the spread of the coronavirus.

French President Emmanuel macron, in a televised address to the nation on March 16, spoke about the measures that will be taken to compensate for business losses from the pandemic, Le Parisien reports.

According to the President, small companies “will not pay any taxes or fees.” Water, gas, electricity and rent bills will be frozen for small and medium-sized businesses.The French authorities will provide guarantees for 300 billion euros to pay the debts of companies in difficult situations. “No business of any size will be on the verge of bankruptcy,” the President assures.

A two-week quarantine has been in effect in France since March 17. Citizens are not allowed to go outside without a valid reason.

Many companies switched to remote work or were forced to suspend their activities. Macron also promised to increase payments of part-time employment.