Interest-free will be the installments for the repayment of the seven cycles of the repayable advance, which was received by approximately 700,000 companies and freelancers. It should be noted that according to the initial forecast, the refund would be interest-bearing.
The countdown began with the publication in the Government Gazette of seven ministerial decisions that essentially pave the way for the AADE to start the relevant procedures. The repayment will be made in 60 interest-free monthly, with the first being paid until January 31, 2022, while there is a provision that in case of a lump sum payment until December 31, 2021, a 15% discount is provided.
The final amount of aid that companies and professionals will be asked to repay is reduced up to 75% and will appear on any other debts of the company, on the website of AADE www.aade.gr in the option “myAADE / my account / Personalized information / Debt Details out of Settlement and Payment “.
At the same time, a new extension is given until December 31, 2021 for the submission of the supporting documents by the beneficiaries.
In particular, according to ministerial decisions:
1. The amount of aid shall not be charged at interest rates.
2. A grace period is granted for the period up to 31 December 2021, during which the beneficiary undertaking is not obliged to repay any part of the aid.
3. The total amount of the aid is displayed with any other debts of the company, on the website of AADE www.aade.gr in the option “myAADE / my account / Personalized information / Debt Details out of Settlement and Payment”.
4. After the expiration of the grace period, the repayable amount of the received aid is payable in sixty (60) equal interest-free monthly installments, each of which is payable on the last working day of the month. The date of payment of the first installment is the last working day of the month following the end of the grace period.
Alternatively, the possibility of a lump sum payment of the received aid is provided, before the end of the grace period, ie before 31 December 2021, with a 15% discount on the repayable amount of the received aid. The amount is paid within the above deadline and the discount is valid until this deadline.
The amounts returned
5. It is possible to repay part of the aid received (repayable amount), as follows:
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:
aa) Repayment of only 25% of the aid, provided that the reduction of revenues from sales of goods and services of the company in 2020 exceeds 70% in relation to revenues from sales of goods and services in 2019 and the company shows losses before taxes in 2020 and if the obligation of par. 1 of article 11. was observed. Especially the companies KTEL. SA and Κ.Τ.Ε.Λ. are not required to meet the pre-tax loss criterion.
bb) Repayment of only 33.3% of the aid, provided that the reduction of revenues from sales of goods and services of the company in 2020 amounts to at least 30% and up to 70% in relation to revenues from sales of goods and services in 2019 and records losses before taxes in 2020 and if the obligation of par. 1 of article 11 was observed. Especially the companies KTEL. SA and Κ.Τ.Ε.Λ. are not required to meet the pre-tax loss criterion.
cc) Repayment of only 50% of the aid, for the enterprises which do not fall under sub-cases aa and bb and if the obligation of par. 1 of article 11 has been observed.
b) For companies that have started operations after January 1, 2019 or opened a branch from April 1, 2019 to December 31, 2020 or have zero gross income in 2019:
aa) Repayment of only 25% of the aid, provided that the reduction of revenues from sales of goods and services of the company in 2020 exceeds 30% in relation to revenues from sales of goods and services in 2019 and the company shows losses before taxes in 2020 and if the obligation of par. 1 of article 11. was observed. Especially the companies KTEL. SA and Κ.Τ.Ε.Λ. are not required to meet the pre-tax loss criterion.
bb) Repayment of only 33.3% of the aid, for the enterprises which do not fall under sub-case aa and if the obligation of par. 1 of article 11 has been observed.
Especially for companies that observe a different year from the fiscal year ending December 31, for cases (a) and (b) above, for the calculation of income and loss for the tax year 2020, the year ending from 01 is taken into account. / 07/2020 until 30/06/2021. For the calculation of the revenues of the tax year 2019, the fiscal year ending from 01/07/2019 until 30/06/2020 is taken into account.
For the fulfillment of the conditions of cases a and b the amount of income from sales of goods and provision of services results from code 500 of the income tax return (E3) of tax year 2019 and 2020, respectively.
The control of the conditions is carried out automatically by AADE.
6. AADE processes the data at its disposal and calculates the repayable amount, in accordance with this article and article 11.
7. The amount of the refund after its payment is shown as income in the state budget in the Detailed Revenue Accounts (ALE) 1590305001 “Returns of transfers in the form of individual repayments” and 1590305002 “Returns of transfers in the form of private transfers companies in legal form “. Especially in the case of companies that have received aid from the PDE, the repayable amount of the aid is accounted for in the income of the PDE.
8. In case of late payment of the amounts due, the general provisions of KEDE apply.
9. In the case of a one-time refund of the above repayable amount after its payment and if it is made on time and in any case before 31 December 2021, the amount of the refund reduces the amount of aid granted and
(a) where the aid has been granted under the Temporary Framework, it shall not be included in the cumulative threshold for the Temporary Framework of paragraph 1 of Article 5 or,
(b) if the aid has been granted under the de minimis Regulation, it shall not be taken into account for the purpose of calculating the cumulation limit of paragraph 1 of Article 5.
10. Especially for the companies that have been proven proven by the fires that broke out in areas of the Greek territory from May 1 to September 2, 2021, as they have been delimited by the data under DAEFK-KE. /13758/Α325/20.8.2021 (Î’ ‘3905), Δ.Α.Ε.Φ.Κ.-Κ.Ε / 13975 / Α325 / 20.8.2021 (Î’’ 3898), Δ.Α.Ε.Φ. Κ.-Κ.Ε / 13665 / Α325 / 17.08.2021 (Î’ ‘3863) and Δ.Α.Ε.Φ.Κ.-Κ.Ε / 11203 / Α325 / 09.07.2021 decisions of the Ministers of Finance, Development and Investments , Interior, Infrastructure and Transport, the refundable amount is non-refundable. For this purpose, statements are sent to AADE and GDOU from the relevant region or in case of agricultural holdings by ELGA, with the details (Tax Identification Number, Name, Headquarters – branch) of the enterprises or agricultural holdings confirming that the enterprises or the agricultural holdings included in them have been affected by the fires of the previous paragraph. Exceptionally for the companies that have a headquarters or a branch in the Municipalities of Mantoudi – Limni – Agia Anna and Istiaia-as – Edipsos of the Regional Unit of Evia of the Region of Central Greece, who were affected by the fire of August 3, 2021, non-returnable.
11. The General Tax Office of the Ministry of Finance, in cooperation with AADE and the Ministry of Development and Investment, shall ensure the updating of the State Aid Accumulation Information System. “
2. Paragraph 2 of Article 11 is replaced by the following:
«2. If the company is supported under the Temporary Framework, it must submit, through the electronic platform “myBusinessSupport”, by December 31, 2021 the supporting documents provided in Annex II.B. of this, which is an integral part of this. In particular, the Single Certificate of Judicial Solvency, for the courts of first instance that have an electronic system, is sought ex officio, with the provision of relevant data by the AADE. “
3. The Annex II.B. is replaced by the following:
«Β. required documents
The company, if it has been strengthened under the Temporary Framework, must, in accordance with the provisions of par. 2 of article 11 hereof, submit the following supporting documents by 31 December 2021:
1. Responsible statement of the company’s accountant certifying that the company on 31.12.2019 (depending on the legal form and type of books of the company), according to the items listed in point A of Annex I “Definition of a Troubled Company”:
– or had not lost more than half of its subscribed capital due to accumulated losses,
– had not lost more than half of its capital, as shown in the company accounts, due to accumulated losses.
The above is not required in the case of independent sole proprietorships, as well as in the case of small and very small enterprises.
In addition, if it is a large company, certify that in the last two years:
the debt – to – equity ratio of the company was not higher than 7,5 and
– the corporate financial coverage ratio (EBITDA interest coverage ratio) was not below 1.0.
2. Single Certificate of Judicial Solvency. “
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