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Executive extends until April 30, 2022 deadline to disburse the private labor subsidy

The Government of President Pedro Castillo extended until April 30, 2022 the deadline to manage the disbursement of the subsidy for the recovery of formal employment in the private sector, according to the Emergency Decree No. 110-2021 published this Wednesday, December 15 in the official newspaper El Peruano.

In this way, the Urgency Decree No. 127-2020 is modified, which seeks to preserve and promote the jobs affected by the COVID-19 pandemic and which indicates that the deadline for the management of the referred disbursement expires on 14 of December 2021. The previous rule provides for the return of non-used resources to the Public Treasury until December 31, 2021.

The new provision argues that, to increase the rate of collection of the subsidy, by the employers who have qualified for the granting of the same, it is necessary to modify the terms for disbursement, the return of resources, as well as for the period of validity of the Emergency Decree No. 127-2020.

In this sense, it provides that the validity of the aforementioned decree of urgency will be until May 31, 2022 and that the deadline for managing the disbursement of the subsidy will be up to April 30, 2022.

Once said term has expired, and within the following 10 calendar days, the Banco de la Nación and the private financial entities that have received resources within the framework of this measure, must initiate the return of said amounts to the Public Treasury account.

Urgent Decree No. 127-2020 provides for the allocation of a temporary subsidy to employers who meet certain conditions in order to cover a percentage of payroll pay for workers between 18 and 24 years of age and workers over 25 years of age.

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