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Greek republic
Ministry of Finance
PRESS OFFICE
Victory 5-7
10180 Athens
Tel: 2103332644
email: [email protected]
Monday, November 16, 2020
Press release
The fourth cycle of the Refundable Advance begins, with even more favorable conditions
The Joint Decision of the Ministers of Finance and Development and Investments (Government Gazette No. 281/2020) was published in the Government Gazette (Government Gazette B ‘5047 / 11.14.2020) the day before yesterday, Saturday, on the “Procedure and conditions for the granting of aid in a reimbursable form Advance to companies economically affected by the outbreak and spread of the coronavirus disease COVID-19 in September and October 2020 “.
The fourth cycle of the successful financing scheme provides even more favorable conditions for the beneficiaries and the amount of aid, 50% of which is non-reimbursable, to cover the additional needs to support the real economy in the current phase of facing the health crisis.
More detail:
– Right of participation
In addition to the companies that had the possibility of joining the three previous cycles of the Refundable Advance, the following applies in the 4th cycle:
– All sole proprietorships are now entitled to participate, regardless of whether they have employees or have a cash register (including freelancers and scientists), as long as they show a 20% reduction in turnover in the reference months (September-October) and have a minimum billing. 300 euros.
– Especially companies whose activity has been suspended by state order or whose headquarters are in areas affected by the Mediterranean cyclone “Janos”, have the right to participate in the Refundable Advance 4 regardless of the drop in billing, as long as they have a minimum billing reference of 300 euros.
– New companies that have positive income for the first time after February 2020, are now entitled to participate, based on the reference of the July-August turnover for the bibliographic and the third quarter for the haplographic.
• Amount of reinforcement
– Companies whose activity has been suspended by state order will receive:
(a) sole proprietorships without employees and without a cash register, a fixed amount of 2,000 euros, regardless of the mathematical formula;
(b) for the rest of the companies the mathematical formula is applied, with a minimum of 2,000 euros. In addition, for companies whose activity has been suspended by state order, the threshold is applied in proportion to the number of employees (2,000 euros without employees, 4,000 euros for 5 employees, 8,000 euros for 20 employees, 15,000 euros for 50 employees and 30,000 euros more than 50 employees).
– Companies whose activity has not been suspended by state order will receive:
(a) sole proprietorships without employees and without a cash register a fixed amount of 1,000 euros, regardless of the mathematical formula;
(b) for the rest of the companies the mathematical formula is applied, with a minimum of 1,000 euros.
Half (50%) of the amount of the aid is non-refundable, provided that the company maintains the same level of employment until March 31, 2021.
For the remaining 50% of the aid, for the period until December 31, 2021, an interest-free grace period is foreseen, during which the beneficiary company is not obliged to reimburse any part of the capital or interest, while a After the grace period has elapsed, the amount is paid in forty (40) monthly installments of equal interest.
• Application process
– A necessary condition for submitting the request for a refundable advance is that the interested company has previously submitted to the electronic platform “myBusinessSupport” (https://www.aade.gr/mybusinesssupport) the VAT billing data, in order to companies subject to VAT, or gross income, for businesses not subject to VAT, from previous months. For this, companies are invited to send the relevant data immediately.
– So, Within the next few days, the application platform will be opened for the granting of the Refundable Advance 4, where the amount of the aid to which the company is entitled will be presented directly, if it meets the inclusion criteria.
It should be noted that the expression of interest form that had to be submitted in an earlier stage has been abolished, as happened in the three previous rounds of the Refundable Advance.
The application platform will remain open until November 30, 2020.
