Who are at risk of repaying the refundable deposit with interest?

by

The deadline for submitting all the supporting documents is until Friday. The interest “runs” from the day they received the money.

By Chrysostomos Tsoufis

Game over for those who received refundable deposit and let Friday pass without having submitted all the required supporting documents. They will then be asked to return the entire refund they received and indeed with interest which runs from the day they got the money.

If they submit the required supporting documents by Friday, then they will be able to enjoy it as well 15% off if they choose to repay the sum assured to them in one lump sum. Otherwise, they will repay their debt in 96 installments, which will appear as a debt on the myAADE digital portal.

The deadline concerns beneficiaries for whom the refundable amount certification is completed after July 15, 2022 and

a) if the certification is completed after the first fortnight of the month, any monthly installments that precede the certification become payable on the last working day of the following month from the month in which the certification is made, together with the current installment thereof, while

b) if the certification is completed during the first fortnight of the month, any monthly installments that precede the certification become payable on the last working day of the month in which the certification takes place.

At the same time, AADE “runs” extensive cross-checks in order to establish whether those who have received it correctly received a refundable advance payment. They are mainly being investigated if they have kept their commitment to maintain employment clause or if they have declared false information.

In her case breach of employment clause (that is, not to make layoffs) they must return the entire amount they have received and indeed with interest. The same applies if the audit shows that the company was not even a beneficiary of the aid.

In case it is found that any business received larger refund than he was entitled to, then he must return the excess amount, also with interest from the date of grant of the aid.

In the event that the title of collection of the refundable amount and the relevant have been issued debt identification and the control shows that:

The company was not a beneficiary of the aid: Then the refundable amount that was confirmed is deleted and at the same time a new collection certificate is issued for the immediate return of the entire aid with interest, as an amount unduly paid.

The company is the beneficiary of a smaller amount of aid: The amount unduly paid by the beneficiary is calculated by AADE. The excess amount that may have been paid against the initial collection title is not returned, but is credited to the debt arising from the new collection title.

In the above cases, businesses lose the 15% discount in the case of a one-off payment.

You May Also Like

Recommended for you