The repayment of the repayable advance in 96 installments starts July

The extension until the end of July for the one-time repayment or payment of the first of the 96 installments of the repayable advance was announced from the podium of the General Assembly of the Panhellenic Hoteliers Federation by the Minister of Finance, Christos Staikouras. After the issuance of the decisions, the independent authority for state revenues AADE will proceed with the issuance of the liquidations with the amounts that must be returned to the state by the approximately 700,000 companies and professionals.

The Minister of Finance also assured that the low VAT rates in catering and transport will be maintained until the end of 2022.

The amounts

The amounts of the refundable deposit are cut by up to 75%. The write-off of the amounts is scaled according to the reduction of the turnover and the time of starting the activity. In particular, companies that have started operations before January 1, 2019, did not open a branch from April 1, 2019 to December 31, 2020, have positive gross income in 2019 and have complied with the job retention clause return:

– 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.

– 33.3% of the aid, provided that the reduction of revenues from sales of goods and services of 2020 of the company amounts to at least 30% and up to 70% in relation to revenues from sales of goods and services of 2019 and the company records losses before taxes in 2020.

– 50% of the aid to the other companies.

Businesses 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 and have complied with the job retention clause return:

– 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.

– 33.3% of the aid for the other companies.