New NSRF – Payments within 80 days

The government intends to make the payment process of the new NSRF easier and shorter for the beneficiaries, as provided by the bill of the Greek Ministry of Development and Investments, the public consultation of which was completed last Monday, January 10, 2022 and, in the following period, will pass through the Parliament.

According to its provisions, limits will be set regarding the amounts of financing, for which the presentation of insurance and tax information will be required, while the disbursements will be made in the strict period of 80 days, so that there are no delays in the aid payments, which, in the new NSRF 2021-2027, are a total budget of 26.3 billion euros, of which approximately 20.9 billion euros are Community funds and 5.3 billion euros are the contribution of Greece.

In particular, according to the draft law, the managing authority, if funding is available, must pay the beneficiaries the full amount, due within eighty days, after the date of submission of the relevant payment request by the beneficiary, except in cases where this deadline may be terminated, if the information submitted by the beneficiary don’t allow the Managing Authority to verify the validity of the information submitted.

Funding is provided as soon as possible and in the total amount of the public contribution. No amount and for no reason is withheld, nor is any special charge or other charge of equivalent effect collected, which would result in the reduction of these amounts.

Another provision stipulates that payments will be made only with the mandatory submission of receipts of tax and insurance awareness, in accordance with the applicable provisions on tax and insurance awareness for the collection of money, but without the condition of withholding. However, proof of tax and insurance awareness will not be required for the payment of transactions up to the amount of 10,000 euros.

This provision facilitates very small and small enterprises, the subsidies of which concern small amounts, and, until today, found it difficult to receive the money, due to the obligation to provide tax and insurance information.

In the case of PPPs, payments are made to a secured account created specifically for this purpose in the name of the beneficiary for use under the PPP agreement. The amount to be paid to the beneficiaries for the implementation of the operations, co-financed by the NSRF Programs and the Programs of Immigration and Home Affairs Funds, will not be subject to any deduction, or withholding, due to debts to the State or to any other public sector body, as well as to insurance companies, or it will not be subject to confiscation by the State or third parties and no other special charge or other fee of equivalent effect, which would result in the reduction of the amount due to beneficiaries, will be collected.