The extension of the grace period and the deadline for one-time payment of the repayable part of the Repayable Advance, as well as the extension of the repayment installments were announced on Wednesday by the Ministry of Finance and the AADE.
The Government and the Ministry of Finance, in cooperation with the Ministry of Development and Investment, and with the assistance of the Independent Public Revenue Authority (AADE), respond to the needs of companies that have been negatively affected by the pandemic crisis. in order to further facilitate them in the midst of this difficult situation, they proceeded to modify the decisions for all rounds of the Refundable Advance, in order to ensure an extension of the repayment for the beneficiaries and an extension of the repayment installments.
In particular, with the issuance of relevant decisions (Government Gazette B 2614, 2615, 2626, 2659, 2669, 2670 and 2674) the grace period for the return of the repayable part of the Refundable Advance is extended, until June 30, 2022 and the date of payment of the first dose is shifted to July 29, 2022.
In addition, the installments for the repayment of the repaid amount of the received aid are increased from sixty (60) to ninety six (96) equal monthly installments, which are interest-free.
At the same time, the deadline for the alternative possibility of a lump sum payment of the repayable amount of the received aid is extended accordingly, with a 15% discount on the repayable amount, until July 29, 2022.
It is recalled that the repayable part of the aid has been reduced and amounts to the following percentages on the received aid, provided that the employee retention clause provided in each Repayable Advance cycle was observed:
a) For companies that have started operations before January 1, 2019, did not open a branch from April 1, 2019 to December 31, 2020 and have positive gross income in 2019, at:
• 25% of the aid, if the reduction of the gross income of the company in 2020 exceeds 70% compared to 2019 and the company shows losses before taxes,
• 33.3% of the aid, provided that the reduction of the gross income of the company in 2020 amounts to at least 30% and up to 70% compared to 2019 and shows losses before taxes and
• 50% of the aid, for all other companies.
b) For new companies that have started operations after January 1, 2019 or for companies that opened a branch from April 1, 2019 to December 31, 2020 or have zero gross income in 2019, at:
• 25% of the aid, if the reduction of the gross income of the company in 2020 exceeds 30% in relation to the income of 2019 and the company presents losses before taxes,
• 33.3% of the aid, for all other companies.
Notices for the payment of the refund amount will be posted in the information system of AADE “myAADE”, in the option “Register & Communication / e-Notifications”, while a relevant e-mail will be sent to the e-mail address stated by the obligor. Businesses will be able to see their debts from the repayable part of the aid in the information system of AADE (“myAADE”) in the option “Debts, Payments & Repayments”.
It is reminded that the payment of debts is possible through the IRIS Online Payments system, at myAADE (myaade.gov.gr), with direct credit of the debts.
The Government and the Ministry of Finance continue to provide practical support to companies affected by the effects of the pandemic, monitoring developments and needs in the real economy and intervening where necessary.
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