By Vangelis Dourakis

A new cycle of audits for illegal subsidies is launching the Ministry of Development: the decision has already been published in the Government Gazette, a development that “lights green” for … further in the competent mechanisms. The “microscope” of the authorities will pass those companies that have received state aid, and of course those who prove to have not exploited the funds for the purpose they received, will pay “expensive”.

The decision signed by the Minister of Development Takis Theodorikakos and has been valid since September 23rd (the day of its publication in the Government Gazette), it concerns a wide range of investment projects that have been subject to older and newer development laws, such as Law 4887/2022, Law 4399/2016, Law 3908/2011 and Law 3299/2004.

What obligations will those who received aid will have

Businesses that have been reinforced, depending on the law being subject, are obliged to submit specific information at different intervals after their investment is completed.

The basic change, compared to the previous control system, is the now universal electronic submission of data.

In particular:

  • Businesses subject to Law 4887/2022 will use the Developmental Information System (MS-AN).
  • For older laws (Law 4399/2016, Law 3908/2011, Law 3299/2004) the procedure will be done through the State Aid Information System – Investment Law (ECSR -EP).

The data must be submitted at the latest within two months of completing each year of operation after the investment is completed.
This is true for the whole period of the long -term obligation (eg six years for Law 4887/2022, seven years or five years for Law 4399/2016).

For businesses that had already submitted their details in print or electronically in the wrong field, two months of publication of the new decision to re -submit them, this time, is given through the new electronic systems. Non -timely electronic submission is considered to be an obligation to commit and shall be fined.

Decisions for Annual Investment Monitoring

The new regime was considered it appropriate to adopt, after finding hundreds of investment projects-“ghosts”, “frozen” projects that never proceeded and companies that have ceased to exist: More than 1,400 investment plans for which the reinforcements were given but the reinforcements were made to EUR 480 million.

Indeed, the first 55m euros have been undertaken by the AADE from investments of older development laws that have not been completed.

In this context, an annual monitoring obligation is introduced for the first time to certify the completion and start of the productive operation of investment projects of Development Laws 2004, 2011, 2016 and 2022.

The relevant check will be carried out sampling, at a percentage ranging from 10% to 20% of all debtors and focuses In the following areas:

  • Legal status and operation of the business.
  • Size of the company
  • Financial data
  • Keeping jobs for which there was a relative commitment
  • Special terms set out in the original decision.

Who will do the controls of investment plans

For this reason it is foreseen to recommend Three -member Sampling Committees. Their role is to certify the completion and launch of the productive operation of investment, even if the final inspection has been carried out by a private (such as a Certified Auditor-Logist).

These committees will be set up according to the entity of investment projects: Committees of the Ministry of Development will control plans subject to it and regions, except Macedonia.

Committees of the Ministry of the Interior (Macedonia – Thrace): They will control plans subject to it in all three regions of Macedonia.

The lists of investment projects to be inspected will be drawn up each year, with criteria that include the size of the investment, the activity sector, the place of installation and the type of aid.

After their establishment, the committees will have a 45 -day deadline to complete the check.

The sanctions framework is still reinforced as the imposition of fines is not provided in the event of non -submission or submission of inaccurate data, ensuring complete compliance with investment obligations.