Payments for 528 thousand independents and companies ATHENS 9.84

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It is now only a matter of time before the process of posting in Taxis the statements and the seven cycles of the “Refundable Advance” received by approximately 528,000 independent professionals and companies. MyBusinessSupport ”from AADE), have the companies that have received financial support through the Refundable Advance rounds and the Special Enhanced Remuneration measure, as well as the 15 companies that have become beneficiaries of the Fixed Fee Subsidy .

After sending payment receipts to beneficiaries, liberal professions and businesses, the countdown begins, that of the payment to the State of the sums reimbursed either as a lump sum with a 15% discount, or in 60 monthly installments (up to end of 2026). The final repayment, of 8,267 billion euros, is reduced to 3 billion euros.

Based on the government’s decision, 64% of the total funds are converted into “non-refundable” amounts. In other words, the debt is canceled and the sums remain acquired by the companies, even tax-free.

Specifically, if the employee retention clause has been met and other conditions provided for in each cycle of a repayable advance, the following are reimbursed:

* For companies having started their activities before January 1, 2019 and having a positive gross profit in 2019:

– It comes back by a quarter (25%), if they have a drop in gross income in 2020, compared to 2019, more than 70% and record losses before taxes.

– A third (33.3%) is returned, if they have a drop in gross income in 2020, compared to 2019, between 30% and 70% and record losses before taxes.

For other companies, 50% is refunded.

For new businesses that started their activities after January 1, 2019 or that had no gross income in 2019:

– It comes back by a quarter (25%), if they have a decrease in gross income in 2020, compared to 2019 (if they had recorded a positive gross income in 2019), more than 30% and losses before record taxes.

– For other companies, a third is paid back (33.3%).

Based on the figure above, it is estimated that:

– 28% of companies will return a quarter (25%),

– 39% of companies will return a third (33.3%),

– 33% will return 50%.

Until today, for cycles 1 to 3 of the Return, it was returned from 50% to 100%, depending on the drop in turnover, while for all companies that participated in cycles 4 to 7 , 50% was returned. However, that changed after the Prime Minister’s announcements at TIF for a reduction in amounts returned to the state.

Thanos paschalis

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